Commercial banks average base rate of fell by 2.48 percent

Kathmandu, March 18

The average base rate of commercial banks has declined.

 According to the data released by Nepal Rastra Bank on Tuesday for the first seven months of the current fiscal year, the average base rate of commercial banks on Magh was limited to 6.97 percent. The average base rate of commercial banks was 9.45 during the same period last year.

In this regard, the average base rate has decreased by 2.48 percent compared to last year. Similarly, the weighted average interest rate on deposits of commercial banks stood at 4.86 percent and on loans at 8.89 percent during the review period. During the same period last year, the weighted average interest rate on deposits of commercial banks was 6.7 percent and on loan it was 11.99 percent. In this regard, the weighted average interest rates on both deposits and loans of commercial banks have declined significantly.

As the average base rate taken by the bank will maintain the interest rate, it is unlikely that the interest rate will increase immediately. Similarly, the weighted average interest rate on 91-day treasury bills has also declined compared to last year. It was 3.91 percent last year and now it is 1.13 percent in Magh.