National Cooperatives Bank has Set the New Interest Rate

Kathmandu : National Cooperative Bank Limited has changed the interest rates of both savings and loans. Cooperative Bank has changed the interest rates of savings and loans with effect from Tuesday. The National Co-operative Bank, which has fixed 3.50 percent interest even for zero balance in ordinary savings, has maintained 4 percent interest rate for 1000 balance.

Even though the minimum balance in regular savings is 1000, the cooperative bank which has set 9.50 percent interest has set 10 percent interest for regular savings for 3 years to 5 years. 10% interest rate is fixed for term deposits less than 2 years and 10.25% interest rate for 2 years to 5 years.

Similarly, the cooperative bank, which has set an interest rate of 9 to 11 percent for agricultural loans for 3 months to 5 years, has set an interest rate of 13 percent for term loans i.e. periodic loans and 12 percent for hire purchase loans. The day after the Nepal Central Bank introduced a strict regime for higher purchase loan companies, the National Cooperative Bank has changed the interest rate.