Muktinath Bikas Bank Lowers Interest Rates on Fixed Deposits; Reverts to Its Own “Accidental” Dashain Offer 

78

Muktinath Bikas Bank Limited (MNBBL) has decreased the maximum on Fixed Deposits.

The bank declared an of 9.5 percent p.a. on FDs with maturities of up to ten years in its interest rate update for Ashwin.

However, the following day, it issued a press statement announcing a 10% rate on FDs.

In a press release issued today, the bank said that the 10% offer incorrect. The bank argues that the news was accidentally circulated on social media and news websites.

According to the NRB mandate, development banks must maintain a margin on regular savings and deposits of no more than 5%. In the event of remitted savings, a 6-percentage-point margin can be maintained.

Despite contradictory public statements, the bank claims that the on FDs is now 9.5 percent.

Muktinath Bikas Bank Lowers Interest Rates on Fixed Deposits; Reverts to Its Own "Accidental" Dashain Offer 

ALSO READ  Is anyone having issues with TMS?
Leave A Reply

Your email address will not be published.