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    Nepal Breaking NewsEconomy | FinanceNumber of deposit accounts in Nepal rise upto 36 million (120% of...

    Number of deposit accounts in Nepal rise upto 36 million (120% of the population)

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    By mid-June, the number of depositors opening accounts in banks and financial institutions had risen to 36.36 million, according to the NRB. The NRB stated this on Friday when it released the β€˜Study Report on Financial Access in Nepal.’ Deposit accounts now for 120 percent of the population.

    According to the National Reserve Bank, 67.34 percent of the population has a bank account. Nepalis with bank accounts accounted for 60.9 percent of the population as of mid-July 2076. Thus, 7% of citizens have established a new bank in the recent year.

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    People’s attention is still drawn to savings accounts. Despite the fact that banks provide more money on term deposits, the number of citizens to hold money in banks for an period of time is very low. Only 3.1 percent of deposit accounts are term deposits, whereas 90.6 percent are savings deposit accounts.

    However, the number of borrowers is extremely small. According to the National Reserve Bank of Nepal, are now 1.682 million 845 loan accounts in Nepal. Even so, one person is responsible for a large number of loan accounts. According to NRB data, just 4.63 percent of deposit accounts are credit accounts, indicating that many people’s money is being invested in a small number of persons.


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