Kathmandu-Nepal's commercial banks have published new interest rates for the first month of the fiscal year 2083-84, Shrawan, with most lenders lowering deposit rates while a few have retained the rates offered in Asar.

According to the published rates, the average maximum interest rate on individual fixed deposits has declined to 4.167 percent for Shrawan from 4.258 percent in Asar.

Among the banks that revised their rates, Rastriya Banijya Bank made the largest reduction, cutting its individual fixed deposit rate by 0.75 percentage points to 4.00 percent from 4.75 percent.

Global IME Bank lowered its rate by 0.50 percentage points to 4.00 percent from 4.50 percent, while NMB Bank reduced its rate by 0.25 percentage points to 4.50 percent.

Other banks that reduced their rates include Citizens Bank, which set its maximum individual fixed deposit rate at 3.95 percent, Kumari Bank at 3.85 percent, and Standard Chartered Bank Nepal at 3.85 percent.

Nabil Bank and Prabhu Bank are offering the highest maximum interest rate on individual fixed deposits for Shrawan at 4.55 percent. Both banks have also maintained their institutional fixed deposit rate at 3.01 percent.

Nepal Investment Mega Bank, Sanima Bank and Machhapuchchhre Bank have also retained a maximum individual fixed deposit rate of 4.50 percent.

Kumari Bank and Standard Chartered Bank Nepal are offering the lowest maximum individual fixed deposit rate for the month at 3.85 percent.

The average interest rate on institutional fixed deposits has also declined, falling to 3.116 percent in Shrawan from 3.18 percent in Asar. However, Nepal Bank has increased its institutional fixed deposit rate from 3.00 percent to 4.00 percent.

A total of 14 commercial banks have left their interest rates unchanged for Shrawan, continuing the rates offered in Asar.

Bankers attribute the continued decline in deposit rates to improving liquidity conditions in the banking system, allowing lenders to gradually lower interest rates.