KATHMANDU

Machhapuchchhre Bank has reduced the interest rate. The bank has publicly announced the reduced interest rate, which will be effective on Mangsir 26.

Along with the reduction in interest rates, the bank has set the interest rate at 9.60% for personal deposits and 7.60% for institutional deposits.

Previously, in the month of Mangsir, Machhapuchchhre Bank had increased the interest rate to 10.60% for personal deposits and 8.60% for institutional deposits. The reduced interest rate will be effective on December 26.

Previously, NIC Asia, Kumari, and NMB Banks had also reduced their interest rates. Other banks are also preparing to reduce the interest rates under pressure to do so.