KATHMANDU, Oct. 17 -- The commercial banks have reduced the interest rate on deposits for the month of mid-October to mid-November (Kartik). The maximum interest rate on personal term deposits of 20 commercial banks has decreased by an average of 0.21 percentage points in mid-September to mid-October (Ashoj) compared to Kartik.

In the month of Ashoj, the average interest rate on the maximum personal term of these commercial banks was 6.39 percent. However, it decreased to 6.18 percent in Kartik. In Bhadra, the average interest rate on maximum personal term deposits was 6.50 percent.

According to a public notice, Sanima bank has increased its maximum interest rate on personal term deposits in Kartik compared to Ashoj. Similarly, 10 banks...