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The base rate is the minimum interest rate set by commercial banks, which forms the foundation for determining loan interest rates. In simple terms, a bank’s loan interest rate is calculated by adding a premium to its base rate. This premium varies depending on the type of loan, borrower profile, and other factors.
Base rates fluctuate every month based on market conditions, and as per the Nepal Rastra Bank (NRB) regulations, banks are required to publish their updated base rates on a monthly basis. Moreover, the applicable loan interest rate for any given month is often derived as an average of the base rates from the previous three months.
This dynamic system ensures that interest rates remain reflective of current market conditions while offering transparency to borrowers. By understanding the trends in base rates, individuals and businesses can make more informed decisions when applying for loans or managing financial strategies.
Navigating the financial terrain in Nepal requires a clear understanding of base rates across different commercial and development banks. These base rates, which form the foundation for loan interest rates, directly influence the cost of borrowing. In this article, we provide an extensive comparison of the base rates from leading banks in Nepal as of 2024, equipping you with the knowledge needed to make informed financial decisions.
(Average Base rate of Last Three Months)
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| Bank Name | Bhadra - 2081 | Shrawn - 2081 | Ashad - 2081 | Jestha - 2081 | Baishak - 2081 | Chaitra - 2080 | Falgun - 2080 | Magh - 2080 | Poush - 2080 | Mangshir - 2080 | Kartik - 2080 | Ashwin - 2080 |
| Siddhartha Bank | 7.93% | 8.20% | 8.31% | 8.51% | 8.71% | 8.98% | 9.22% | 9.41% | 9.50% | 9.63% | 9.71% | 9.83% |
| Nepal Bank Limited | 7.54% | 7.87% | 7.88% | 7.96% | 8.08% | 8.27% | 8.57% | 8.83% | 9.05% | 9.39% | 9.65% | 9.89% |
| Nepal Investment Mega Bank | 7.64% | 7.82% | 8.03% | 8.26% | 8.52% | 8.81% | 9.14% | 9.41% | 9.66% | 9.83% | 9.99% | 9.79% |
| Prime Commercial Bank | 8.57% | 8.77% | 9.04% | 9.30% | 9.68% | 10.05% | 10.31% | 10.43% | 10.52% | 10.68% | 10.78% | 10.76% |
| Global IME Bank | 7.77% | 8.09% | 8.40% | 8.59% | 8.84% | 9.09% | 9.38% | 9.6% | 9.8% | 10.01% | 10.07% | 10.09% |
| Standard Chartered Bank | 6.22% | 6.38% | 6.36% | 6.74% | 7.01% | 7.36% | 7.52% | 7.73% | 8.01% | 8.22% | 8.47% | 8.67% |
| Himalayan Bank | 8.86 % | 9.08 % | 9.28 % | 9.52% | 9.84% | 10.1% | 10.35% | 10.59% | 10.77% | 10.86% | 10.85% | 10.88% |
| Sanima Bank | 7.83 % | 8.03% | 8.2% | 8.41% | 8.66% | 8.97% | 9.27% | 9.44 % | 9.59% | 9.77 % | 9.92% | 10.06% |
| NIC Asia Bank | 9.22% | 9.24 % | 9.13% | 8.86 % | 8.86 % | 9.13 % | 9.67 % | 10.1% | 10.39% | 10.7% | 10.96% | 10.76% |
| NMB Bank | 7.98% | 8.42% | 8.7% | 8.94% | 9.15% | 9.41% | 9.71% | 9.95% | 9.9% | 9.81% | 9.85% | 10.08% |
| Prabhu Bank | 7.95% | 8.2% | 8.35% | 8.49% | 8.75% | 9.06% | 9.3% | 9.42% | 9.66% | 9.94% | 10.17% | 10.18% |
| Citizens Bank | 8.42% | 8.57% | 8.85% | 9.07% | 9.29% | 9.58% | 9.85% | 10.16% | 10.39% | 10.64% | 10.68% | 10.68% |
| Nabil Bank | 7.42% | 7.63% | 7.86% | 8.1% | 8.36% | 8.61% | 8.86% | 9.07% | 9.3% | 9.45% | 9.58% | 9.54% |
| Agriculture Development Bank | 7.96% | 8.18% | 8.38% | 8.61% | 8.98% | 9.36% | 9.72% | 9.93% | 10.11% | 10.3% | 10.45% | 10.34% |
(Average Base rate of Last Three Months)
| Bank Name | Bhadra - 2081 | Shrawn - 2081 | Ashad - 2081 | Jestha - 2081 | Baishak - 2081 | Chaitra - 2080 | Falgun - 2080 | Magh - 2080 | Poush - 2080 | Mangshir - 2080 | Kartik - 2080 | Ashwin - 2080 |
| Muktinath Bikas Bank | 8.81% | 9.09% | 9.38% | 9.69% | 10.04% | 10.4% | 10.69% | 10.98% | 11.25% | 11.47% | 11.52% | 11.52% |
| Shangrila Development Bank | 9.08% | 9.33% | 9.62% | 9.94% | 10.28% | 10.52% | 10.79% | 10.99% | 11.25% | 11.51% | 11.65% | 11.84% |
| Jyoti Bikas Bank | 9.41% | 9.51% | 9.62% | 9.62% | 9.98% | 10.39% | 10.78% | 11.13% | 11.36% | - | - | - |
| Garima Bikas Bank | 8.72% | 8.99% | 9.26% | 9.87% | 9.99% | 10.32% | 10.59% | 10.89% | 11.27% | 11.55% | 11.69% | 11.74% |
| Mahalaxmi Bikas Bank | 8.96% | 9.39% | 9.54% | 9.7% | 9.87% | 10.11% | 10.36% | 10.71% | 10.89% | 11.16% | 11.23% | 11.39% |
| Lumbini Bikas Bank | 9.46% | 9.77% | 10.1% | 10.4% | 10.72% | 11% | 11.25% | 11.4% | 11.58% | 11.7% | 11.83% | 11.88% |
| Kamana Sewa Bikas Bank | 9.16% | 9.45% | 9.74% | 10.09% | 10.41% | 10.72% | 10.95% | 11.22% | 11.46% | 11.6% | 11.57% | 11.64% |
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When selecting a bank for your borrowing needs, the base rate is a critical factor to consider, but it should not be the only one. It's important to evaluate the overall package offered by the bank, including loan terms, customer service, and additional fees. This comprehensive comparison of base rates across Nepal's major commercial and development banks provides a valuable reference point, helping you to make well-informed financial decisions in 2081. Optimize your financial strategy today with Saral Banking Sewa and ensure you’re always getting the best rates and services available.
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