NIC Asia Bank Increases Interest Rate on Fixed Deposit (FD) Up to 11.10 Percent

NIC Asia Bank has raised the interest rate on Fixed Deposit (FD) account to 11.10 percent. The bank has also increased the interest rate on savings accounts to 8.10 percent.

According to the new interest rate published with effect from November 20, the bank has increased the rate as compared to September.

The interest rate on individual Fixed Deposit (FD) accounts has been increased by 2.5 percent as compared to September, while the interest rate on some savings accounts has been increased by more than 3 percent.

The interest rate on the new premium super miraculous monthly Fixed Deposit (FD) account (normal) with a minimum balance of Rs 500 has been fixed at 11.10 percent. Similarly, even in a customized account of the same name, the interest rate will be 11.10 percent.

Similarly, NIC Asia has fixed the interest rate at 11.10 percent for Fixed Deposit (FD) products for a period of 1 to 10 years.

The minimum balance in the Fixed Deposit (FD) account "The NIC Asia Ambassador" should be 10 million, with an annual interest of 11.10 percent. Similarly, the minimum balance in the Fixed Deposit (FD) "The Pride of NIC Asia" should be Rs 5 million, with an interest rate of 11.10 percent.

The interest rate on a three-month personal fixed deposit (FD) has been fixed at 10.10 percent. The interest rate on 3 to 11 month fixed deposit (FD) has been fixed at 10.60 percent.

Similarly, interest rates on three-month Institutional Fixed Deposit (FD) accounts are offered at 10.10 percent, 3 to 11 months at 10.60 percent, and 1 to 10 years at 11.10 percent.

NIC Asia Bank's base rate for August stood at 6.89 percent. It is said that the interest rate of most loans will be determined by adding a 6 percent premium to the base rate. This means that the minimum interest rate on bank loans has reached an average of 13 percent.