Several banks have announced reduced interest rates for the month of Baisakh. In comparison to the rates in Chait, many banks have lowered their average interest rates. Currently, among the twenty banks in operation, thirteen have reduced their interest rates. Banks that have reduced interest rates include Nepal Bank, Laxmi Bank, Machhapuchhre Bank, Prabhu Bank, Rastriya Banijya Bank, Global IME Bank, Siddhartha Bank, Prime Commercial Bank, Kumari Bank, Sanima Bank, SBI Bank, Citizens Bank, and NIC Asia Bank. These banks have reduced their maximum average interest rates to 0.19% to 19% per annum on personal deposits compared to Chait. In personal deposits, these banks have announced a maximum interest rate of 7.25% per annum for the month of Baisakh, compared to a maximum of 25% per annum in Chait. Agriculture Development Bank, Standard Chartered Bank, Nabil Bank, Himalayan Bank, and Nepal Investment Mega Bank have maintained consistency in their interest rates from Chait. However, Everest Bank and NMB Bank have increased their interest rates for Baisakh compared to Chait. https://ujyaaloonline.com/story/100546/2024/4/12/in-april-many-banks-reduced-interest-rates