Interest rate can be changed on monthly basis
Should publish interest rate for deposit and loan before starting of the month. And interest rate should be on annual basis
Can change interest rate anytime if Bank rate and Policy Rate changes
Interest rate change can only be within 10% than of before
Interest rate on institutional fixed deposits, including Auction, should be at least 1% lower than the interest rate of general public fixed deposits
Minimum & maximum interest rate in all deposit account (domestic currency) should not exceed 5% except in call deposit account. But for ssf account and endowment fund (अक्षयकोष) min-max of 5% is not necessary
Min-Max interest rate difference in saving deposit ac : maximum 2%
Remittance FD 1% higher than prevailing FD rate
Call deposit interest rate: 50% of minimum published int rate in saving accounts. No cheques allowed in call accounts
FD account duration: Minimum 3 months for Individual & 6 month for corporate
No premature of corporate FD account before 6 months
fixed deposits cannot be accepted in such a way that the customer can withdraw the amount at any time while keeping the pre-determined interest rate intact before the maturity period expires.
Interest rate must be paid even if the account gets dormant
Base Rate: should calculate monthly and report to nrb within 7 days of month end. Monthly and avg of last three-month base rate should be published in own website
Penal interest in loan: not more than 2% annual. Penal only on due principal amount. No extra interest shall be charged on penal interest.
published premium rate can be increased every six months but can decreased anytime required.
NO loan should be provided on interest rate lower than last three months average base rate. But concession for loan to subsidized loan from government or related entity.
Loan premium rate of same nature of loan product should not be more than 2%
Loan interest rate must be published in Adjustable Interest Rate (BR+PR) & Fixed Interest Rate.
Premium rate should not be increased in any manner once declared and premium rate must be clearly written in offer letter. But if fund diversion or try to damage to collateral can charge extra penal interest.
Discount of 1% in interest rate for loan provided to deprived sector, Senior citizens, Dalits, freed Kamaiyas, widows, Haliyas, war victims, single women, and differently-abled individuals
Under fixed interest rate: interest rate must be fixed for first 7 years and can be changed in next every 5 years, if necessary, upon written agreement with customer
Deprived sector wholesale lending to microfinance should be BR+2%
Interest rate difference between deposit and loan should not exceed 4.0% for A class BFI. This must be maintained every month otherwise penal as
No branch opening except in local bodies where no A class banks are available
No refinance except for earthquake victims
No cash dividend except for bonus tax purpose
No penal for trouble declared BFI and up to 2 years after recovery of trouble
If interest rate difference (loan & deposit) exceeds at any point it must make within limit within same quarter
Interest rate change must be informed to customer through SMS or Email
Deposit interest must be calculated on daily balance and paid on quarterly basis
For every change related to minimum balance and interest rate it must immediately published in national newspaper
Deposit, loan interest rate, base rate, interest rate difference (loan-depo) for last 3 years must be published in website
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