Sangrila Development Bank has also Reduced The Interest Rate

Kathmandu: As the commercial banks have started publishing notices on reducing the interest rates, the development banks have also started reducing the interest rates. Sangrila Development Bank has reduced the interest rate with effect from 13th of December, 2023 A.D.

Earlier, this bank has fixed the interest rate from minimum 5.60 percent to maximum 7.60 percent in ordinary savings account, whereas publishing a notice on 13th of December, it has fixed the interest rate in ordinary savings account from minimum 4.80 percent to maximum 6.80 percent. The bank has set an interest rate of 7.80 percent on golden remittance.

Similarly, the bank has set interest rates up to 9.55 percent for individuals and 7.55 percent for institutions on fixed deposits. Earlier, the bank had fixed interest rate of 10.60 percent for individuals and 8.60 percent for institutions on fixed deposits.