Bank Interest Rates in Nepal
Bank Interest Rates in Nepal: Since 1937 the Nepal Bank Limited has started service in Nepal. It is the first commercial bank of Nepal. Nowadays there are more than 27 commercial banks. Which performing services like deposits, loans, remittance, checkbook, credits cards, debit cards, mobile banking, internet banking, shares & insurances.
Which Bank is Paying High Interest Rates in Nepal
The bank interest rates in Nepal are decided by Nepal Rastra Bank. But the commercial banks can increase or decrease the interest rates without exceeding the maximum or minimum rates set by Nepal Rastra Bank.
However, we have pointed both the maximum & minimum interest rates on the savings accounts. And also the maximum interest rate on fixed deposit for personal & institutional accounts.
To get the maximum interest rate in many banks you have to choose the special or premium account type that means you have been charged for account opening or maybe some amount will be on hold until you operate the account.
We suggest for maximum interest rate kindly choose those bank which has a high interest rate on the Normal savings account. Generally, the normal savings account is zero balance account which doesn’t require a minimum balance to open a bank account.
The bank interest rates in Nepal are always changing so we update the rates every month, for more information watch the table below.
| Banks | Normal Savings% | Special Savings% | FD Personal% | FD Institutional% |
|---|---|---|---|---|
| Nepal Bank Ltd. (NBL) | 3.5 | 5 | 8.25 | 7 |
| Agriculture Development Bank Ltd. (ADBNL) | 5 | 5.5 | 8.25 | 7 |
| NIC ASIA Bank Ltd. (NIC) | 3.5 | 5.5 | 8.25 | 7 |
| Rastriya Banijya Bank Ltd. (RBB) | 3.5 | 5.5 | 8.25 | 7 |
| Himalayan Bank Ltd. (HBL) | 3.5 | 5 | 8.25 | 7 |
| Nepal Bangaladesh Bank Ltd. (NBB) | 5.5 | 5.5 | 8.25 | 7 |
| Machhapuchhre Bank Ltd. (MBL) | 4 | 5.5 | 8.25 | 7 |
| Nepal SBI Bank Ltd. (NSBI) | 3 | 5 | 8.25 | 7 |
| Prabhu Bank Ltd. (PRABHU) | 3.5 | 5.5 | 8.25 | 7 |
| Nabil Bank Ltd. (NABIL) | 3 | 5 | 8.25 | 7 |
| Mega Bank Nepal Ltd. (Mega) | 4 | 5.5 | 8.25 | 7 |
| Nepal Investment Bank Ltd. (NIBL) | 3 | 5 | 8.25 | 7 |
| Everest Bank Ltd. (EBL) | 5 | 5 | 8.25 | 7 |
| Global IME Bank Ltd. (Global) | 3 | 5 | 8.25 | 7 |
| Bank of Kathmandu Lumbini Ltd. (BOK) | 5.5 | 4 | 8.25 | 7 |
| Nepal Credit and Commerce Bank Ltd. (NCC) | 5.5 | 5.5 | 8.25 | 7 |
| Kumari Bank Ltd. (Kumari) | 4.75 | 5.5 | 8.25 | 7 |
| Sanima Bank Ltd. (Sanima) | 3.5 | 5.5 | 8.25 | 7 |
| Laxmi Bank Ltd. (Laxmi) | 4.5 | 5.5 | 8.25 | 7 |
| Sunrise Bank Ltd. (Sunrise) | 3.5 | 5.5 | 8.25 | 7 |
| NMB Bank Ltd. (NMB) | 4.5 | 5.5 | 8.25 | 7 |
| Siddhartha Bank Ltd. (SBL) | 4.75 | 5.5 | 8.25 | 7 |
| Citizens Bank International Ltd. (Citizens) | 4.5 | 5.5 | 8.25 | 7 |
| Prime Commercial Bank Ltd. (Prime) | 5.5 | 5.5 | 8.25 | 7 |
| Civil Bank Ltd. (Civil) | 5.5 | 5.5 | 8.25 | 7 |
| Century Commercial Bank Ltd. (Century) | 3.5 | 3.5 | 8.25 | 7 |
| Standard Chartered Bank Nepal Ltd. (SCBNL) | 3.5 | 5 | 8.25 | 7 |
As you can see Nepal SBI Bank Ltd, Nabil Bank Ltd, Nepal Investment Bank Ltd & Global IME Bank Ltd interest rates are LOW, where Nepal Bangladesh Bank Ltd, Bank of Kathmandu Lumbini Ltd, Nepal Credit and Commerce Bank Ltd, Prime Commercial Bank Ltd & Civil Bank Ltd interest rates are HIGH for this quarter. Updated on 01-05-2020
Bank Products And Services
Many commercial banks are offering free account opening & some banks are charging for the service. Most of the bank offers free checkbook, debit card, ABBS, mobile & internet banking.
The banks are offering many types of accounts. Such as saving, fixed, current, dmat, salary, FCY known as foreign currency account USD, GBP & EUR.
As well they are serving a variety of loans. Such as personal loan, home loan, vehicle loan, business loan, education loan, gold loan, mortgage loan & property loan.
Each citizen of our country has the right to open a bank account. Even Nepalese citizens residing in a foreign nation can open online bank accounts in Nepal without appearing in the bank.
As well the foreign citizen or NRN non-residential Nepalese can also open a bank account in Nepal. For foreign citizens, they must be residing, earning, or trading in this country. For NRN they need an NRN ID card.
To open a bank account, you need a photograph, identity proof & address proof which is compulsory. Maybe the bank will demand other relevant documents.
You can visit the bank physically or Nowadays many banks have the facility to open an online bank account. Just you have to fill the online form & submit it on their sites you’ll get your account number instantly by email or SMS.
The Best Bank By Comparing The Services
Let’s talk about not only the interest rates but, also about the services of the banks. Many banks are paying high interest but their services are so bad. I’m not going to point the bad services bank’s name here. But I am going to tell you the banks having good services in my opinion.
Nepal Investment Bank
To be honest, in terms of service the first name comes in mind is Nepal Investment Bank. There are many instant services where the customer has not to wait for a week or months. Like a password reset of internet banking or mobile banking. Check on demand instantly. Especially the ATM machine works great each time.
Nabil Bank
The second name that comes in my mind is Nabil Bank which services also very good. Especially for debit cards & credit cards, where the bank always offering discounts & cashback to the customer. On many online sites, you get a heavy discount with Nabil bank. Surprisingly, it supports payment on many Nepalese as well on Indian shopping sites too.
NMB Bank
The third one is NMB Bank which has a high interest too. The bank is best for its debit cards which support most of the ATMs of our country without any transaction charges. Now many banks are offering such a transition charge free debit card. But still, the NMB debit card is the best. Even withdrawal in India is also a minimum transaction fee among theses all banks.
SANIMA Bank
The fourth one is Sanima Bank if you are NRN or staying out of country forget those three banks which have been discussed above. Sanima bank started by NRNs & they better know the banking problems while staying out of the country. So Sanima Bank enters the banking industry with solutions. The service offered by Sanima Bank is far better than other banks such as account opening, account types, domestic/international debit cards, domestic/international credit cards, sanima express remittance, loan facilities.
[SSB]
Im retired, would like to invest 1 cr in FD, where can I earn 1000k per month. Do suggest which bank provides highest ineterst as well as safe bank.
Mr. Mukunde Ale none banks of Nepal can pay so high-interest rate as you are expecting if you fixed deposit of 1 corer you can’t get 1000k per months, considering to current fixed deposit rate(9.25%) you can get around 77k per months. If you are going to fixed deposit such a big amount kindly talk to the bank manager before fixing I am sure the bank will definitely pay you more than 11% interest rate.
Our suggestion kindly goes with any class A banks such as Nabil Bank Ltd, Himalayan Bank Ltd, Sanima Bank Ltd, NIC ASIA Bank Ltd, Machhapuchhre Bank Ltd. Amoung of these, you can choose NIC ASIA Bank which is safe & also provides high-risk cover insurance facility with the account.
YOU MAY VISIT TO ADBL NEAR BY YOUR LOCATION AND WILL BE PROVIDED 9.75% INTEREST RATE ON MORE THAN 5 LACS DEPOSIT IF PERMISSION GRANTED BY BOD AND MANAGER OF THE PARTICULAR BRANCH.
HURRY UP !!
What is the shortest term of fixed deposit in any bank in Nepal.
Mr. Bishnu Usually the shortest terms for a fixed deposit in Nepal is about 3 months. Some banks have also introduced the shortest tenure than 90 days but still, now there is no shortest Tenure than 90 days in Nepal. Now you can online fixed deposit your hard earned money in many banks of Nepal.
I would like to deposit 10 lakh in fd .Can you please let me know which bank is the highest interest provider in recent days and send me the link as well cause I live in Australia. I ’d like to how interest is calculated and how much i will be paid monthly if I keep it for longer periods .
Hi Reagan, if you put 10 lakhs to any bank in fixed deposit at 8.25 of interest rates which are highest nowadays, each month you’ll get around before tax a Rs 6875 after tax (5%) deduction you’ll get Rs 6531 per month. Keep in mind the earned interest amount will be added to you saving account after every three months, not each month.
Our suggestion kindly goes with NIC ASIA Bank which is safe & trusted also provides high-risk cover insurance facilities like accidental insurance, critical illness, medical insurance with the bank account. https://www.nicasiabank.com/product/accounts–deposits/new-premium-super-chamatkarik-fixed-deposit
I live abroad in Qatar since 17 yrs and will be living for next couple of years. So, I’m unaware of nepal banks. Your blog helped me understand much of it but still have few concerns. I am looking forward to open a bank account where I can get following facilities. Appreciate if you could advise.
1. Easy internet and mobile banking
2. Enticing interest rates
3. Online purchases like AliExpress, Amazon, & Ebay
4. Convenient ATM services
Mr. Pawan Dangol our suggestion kindly go with SANIMA Bank Ltd. If you are staying in abroad then you can apply for online account opening from here https://eaccount.sanimabank.com/home. If you will come to Nepal & stay at least 10 days then you can apply for 3 in 1 account from here https://eaccount.sanimabank.com/three-in-one-account-first/7. Where you’ll get SAVING, SHARE TRADING & DEMAT account. So, you can buy or sell SHARE hassle free from anywhere through their online service.
As your concern
1. Mobile & ibanking is excellent.
2. Interest rate is high on normal saving account as well on fixed deposit.
3. Using the SANIMA Debit Card (NPR) you can purchase online in Nepal (Daraz, sastodeal, giftmandu etc) & India (Amazon.in, flipkart, Snapdeal etc). If you still want to purchases form international shopping sites like AliExpress, Amazon, & Ebay then you have to apply for SANIMA VISA Dollar Debit Card, VISA Dollar Credit Card or VISA Dollar Travel Card.
4. The SANIMA Debit Card (NPR) can be used to any ATM machine of any banks in Nepal without any transaction fee & card annual charge is also low.
If we put Rs 100000 for fix deposit for 2 years
How much we will get per month’s
Plz reply in Rs.. So I can understand
Mr. Manoj if you fixed deposit 100000 to any bank at 9.25 of an interest rate for 2 years you will get after tax Rs 17575. Each month you’ll get around before tax a Rs 770 after tax(5%) you’ll get Rs 732 per month. Keep in mind after three months the earned amount will be added to you saving account, not each month.
I want to deposit 2500000 on fix deposited.which bank gives the highest interest rate ? Plzz guideline me.
Can i add my interest that comes from Fixed deposit to the same Fixed ac. ? cause i dont want my interest in Saving ac. I mean Automatically when the interest comes out….
Hi Sushma, yes you can add your earned interest amount to the same fixed deposit account automatically, you don’t have to visit the bank physically. Now, this feature is available in sunrise bank only. You have to open a new account “SUNRISE RECURRING DEPOSIT” where you can add your earned interest on a weekly or monthly basis to your fixed account. https://www.sunrisebank.com.np/personal-solution/fixed-deposits/sunrise-recurring-deposit
what if we need interest for personal use ? can we tell bank to stop the process and deposit interest in saving account?
Hello R. Chetri, if you keep the amount to FD account the interest will pay to your savings account automatically if its RECURRING DEPOSIT account then you have to talk to a bank representative.
Sir, can you tell me in brief what are the document provided by bank after deposit money in fixed deposit for future reference ??
Mr. Rahul most of the bank will provide a fixed deposit receipt (click for sample) and one extra account number other than a savings account. Some banks also providing passbook.
Hi Admin,
Thanks for complete information about rates that banks are offering now.
Although i got additional information from the comment section ahead, i would like to ask if I could invest 250K on fixed Deposit any of bank in nepal, the maximum rate they can offer now( corona crisis) is only 8.75% . How much I will get return as interest each month if i invest it for one year?
My second concern:
May be you can also assume some probability, most of the banks are average profit condition because of corona pandemics. Will the FD rate go down again or rise up? What do you suggest me when will be the best time for investment and in which bank?
Thanks in advance.
Best Regards
SM
Hi Sadishma, investing 250K on fd at 8.75% you will get Rs 1822, after tax(5%) deduction Rs 1731 per month. As your second concern, it will be better to invest after lockdown ends the possibility of an increment in interest rate up to 1%. Our suggestion now you can fixed for 90 days to Machhapuchhre Bank & highly recommended open SMART BACHAT KHATA for saving to get all the insurance benefits better than all other banks.
If you still need more interest rates go with Lumbini Bikas Bank 9% interest provided by the bank.
Namaste,
Whats an average Mortgage interest rate offered by Banks in Nepal.
Also, could you please confirm if I am right to understand that there is only Variable Interest rate offered to Mortgage customers ,never Fixed Interest rate?
Hi P Rai, the average mortgage rate is 8% + additional premium up to 5%. The banks offer both fixed and variable interest rates but there is a trick if your interest payment type is OD (overdraft) which means your loans will renew each year then the mortgage interest rate will be variable. if you choose interest payment type as installment then the mortgage interest will be fixed.
I’ve heard about himalyan bank and siddharth bank proving 11% fd interest. Is it true?
No, it’s not true Ashish jee the interest rate on FD in both banks is 8.25% the maximum you can get 8.75% nowadays in the corona pandemic.
Great content. Can you also do comparison on Class-B banks? Specially for saving accounts. I used to have High-Yield Saving Account with 6.5% interest rate paying me monthly, but due to pandemic they change it to Normal Saving.
Thanks, Reejan jee for your suggestion definitely we will publish a complete article on the comparison between class B banks.
The central bank of Nepal,Nepal Rastra Bank has directed all A class banks to to maintain interest rate not more than 9.25% annually on fixed deposit. However the rate has been slashed to 8.25%-8.75% owing to current COVID -19 pandemic .
Rise in Interest rate is expected after current pandemic .
Hi Satish
Thank you very much for your words of wisdom & advice.
Please correct me if I am wrong.
“Higher the deposit than higher the interest”
If I am looking to deposit In excess of 1 crore than what will be the highest rate I am likely to get in A class banks?
Yes, Suman jee you are right but in this pandemic situation FD interest rate is 8.25% the highest you can get is 8.75% in any class A bank. Kindly go with NIC Asia bank under “New premium super chamatkarik fixed deposit”(Diamond) account.
I Have Budget Of 20 Lakhs,I am Looking For The Best Bank ,Which Can Provide High Interest Rate For Fixed Deposit..Can You Please Suggest Me For Better Interest
Hi Dwoz, if the interest rate is a priority then kindly go with Manjushreefinance or Gurkhasfinance where you’ll get up to 9.75% on FD in two or above two years.
Hi admin,
Just one question, is there any Americans bank in Nepal that utilizes US routing numbers to receive payment by direct deposit from US?
Thanks in advance
Greetings
Hello, Deepak jee these is no American banks in Nepal but you can direct deposit from the US to Nepal. If I am not wrong you want to send USD from the US & want to receive USD as well in Nepal. There is two way which you can proceed, Frist one is “Sanima INTERNATIONAL REMITTANCE” using swift code in corresponding banks in the US. The second is to use wire transfer services from any banks of the US.
Before proceeding any methods you need FCY Foreign Currency Account in Nepal. If You want to open the FCY account while staying in US kindly follow the link.
Hi , thanks for reply. Actually I am receiving compensation benefits from federal state of US and receiving pay check by post , after i got check it should be cash out but it takes long time to get cash. So I want a bank which uses US bank routing so that they can pay my benefits directly to my account. They dont tranfer via SWIFT . Is there any option sir. Hope you understand my case .thanks
Deepak Jee, depositing FCY cheque in Nepalese banks can take more than 6 weeks because the cheque has been sent back to the origin bank they will verify after you got a deposit to your Nepal’s account. Sorry to inform you, our Nepal banking system does not support US routing numbers.
Dear Sir,
I want to start FD with 2Lakh and every year 1 want to add 1 lakh on it. Further rather taking interest I also want to continue that interest in same FD. Is it possible?
If I start with 1 lakh and add every year 1 lakh for 25 years and the interest generated from the beginning will be also added to FD then how much I will receive after 25 years?
And for this which bank will be best?
Thank you.
if I invest 2 lakh 60 thousand on fixed Deposit at 8.75% interest per year. How much I will get and if i invest 1 lakh 60 thousand?
is kumari bank good and trusted bank?
Hello Hari, for 2.6 lakh@8.75 You will get 22750 after tax deduction 21612 will deposit to your account, for 1.6 lakh you will get 14000 after tax deduction 13300 per year.
Be assured KUMARI Bank is a more trusted bank.
Hlw. Sir. I know it’s a different topic. But just wanted to know like if i kept money on fixed deposit of 1000000rs in any one of the bank for 1 yr. But the bank goes failures. Then what will be the options and how much does NRB gives is?
Thanks Shuraj jee asking for this question, actually there is nothing to worry about bankrupt. If something goes wrong, the bank will pay lowest depositor frist then higher depositor. If the bank run out of money then NRB will pay you because the bank assets like loan, investments, property, buildings and the projects are still running. There is no doubt and be assured the bank will pay you the whole amount with the interest.
Dear Sir,
Banks offer same rate for fixed deposit starting from 3 months to a year. Can we just open a FD for 3 months, collect money with interest. Again open another FD for other 3 months and close account. Again open another FD with the added interests for 3 months?
Hi Rashmi jee, absolutely you can go with your idea, but it will be more beneficial if you open an FD/SAVING RECURRING DEPOSIT account. Where your earned interest will automatically add to your FD account each month/week/day. Different types of recurring deposit account offered by various banks like Sunrise, Nicasia, Himalayan, Everest, and many more.
Hello sir
If we deposit money in fix deposit,Yearly or half yearly interest is more beneficial?
Also what is the biggest interest paid bank in Nepal?
Hi Sot, if you can manage time for visiting a bank kindly fixed deposit for 3 months only. After every three months, you have to fixed the earned interest & amount again. Repeating the process again & again will be more beneficial.
Hi, what’s the best bank to deposit GBP fixed 12 months worth 9000GBP, which bank pays the most interest and can be withdrawn from UK when the fixed deposit time ends please. I have NRN id so I am able to open the foreign currency account from UK. Thank you
Hi Nirajan Pokhrel, for GBP FD accounts interest rates is not been disclosed by many banks they only disclose the FCY (foreign currency account) interest rates for saving accounts. Actually, FCY FD interest rates is negotiation based so before Fixing the amount talk to the bank representative. Yes, you can open a FCY from the UK kindly go with Sanima bank online account opening. The whole process is explained in this article How To Open A Foreign Currency Account in Nepal.