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23 Jan, 2023

Fixed deposit in Nepal

What is a fixed deposit?

A fixed deposit, or FD, is an account with higher interest rates than a regular savings account.

The name "fixed deposit" refers to the deposit of a fixed amount for a fixed time in a bank. You will get the interest in return either after the maturity of the FD or periodically.  

Fixed Deposit is an excellent way to build your savings while earning interest on your money. It is also considered a reliable option for investment in Nepal where the risk factors are minimal compared to other investment options.

Now, let’s discuss the types of FD that we can invest in.

Two types of Fixed Deposit in Nepal 

  • Normal fixed deposit

In a normal FD, you need to deposit the total amount at once, for a fixed period. 

  • Recurring fixed deposit

Recurring fixed deposits allow you to deposit a certain amount periodically. Many banks allow deposits to be made monthly or quarterly.

However, withdrawal is only allowed at maturity for both of the FD types.

Fixed Deposit Tenure and Minimum Deposit Amount in Nepal

Banks in Nepal let you open a fixed deposit account by depositing a minimum amount for a certain period, according to their scheme.

Average minimum deposit: Rs 10,000

Minimum deposit Tenure: 3 months

Maximum deposit tenure: 5 years

With Saral Banking Sewa's Fixed deposit comparison tool, you can compare different Fixed deposit accounts provided by all commercial and national-level development banks in Nepal. You can compare and choose the most suitable option for you.

The comparison metrics include minimum deposit, interest rate, deposit tenure, etc. To find the highest interest rate on a fixed deposit account in Nepal, click here.

What are the penalties for premature withdrawal?

Premature withdrawals from fixed deposit accounts are subject to a penalty fee. The penalty amount can vary as per the bank's policies. (As per the rules of STC) 

Highest Interest rate in Fixed Deposit In Nepal

There is a Fixed Deposit comparison tool provided by Saralbanking Sewa, from which you can compare interest rates. With this tool, you can compare remittance fixed deposits, normal fixed deposits, etc.

List of the Highest Interest Rates on Fixed Deposits in Nepal 

Here is the list of the Highest Interest rates provided by all commercial and national-level development banks of Nepal.

Normal Fixed Deposit Highest Interest Rate 

Bank and Product NameInterest rate per annum
Garima Bikas Bank Individual Fixed Deposit12%
Muktinath Bikas Bank Individual Fixed Deposit 12%
Nabil Bank Individual Fixed Deposit11%
Global IME Bank Individual Fixed Deposit11%

Compare Interest rates of Normal Fixed Deposit 

Remittance Fixed Deposit Highest Interest rate

Bank and Product NameInterest rate per annum
Prime Bank Remittance Fixed Deposit14%
Muktinath Bikas Bank Remittance Fixed Deposit (1 year only)13%
Lumbini Bikas Bank Remittance Fixed Deposit13%
Agricultural Development bank Remittance Fixed Deposit 13%

Compare Interest rates of Remittance Fixed Deposit 

If you feel the need for a callback for detailed information on any bank’s fixed deposit product, we are just a call away from you.

WhatsApp/Viber: 9851361107

Landline: 01-5269107 

Saral Banking Sewa- “Saral-ify” your banking experience. 

Our Team actively seeks ways to ‘Saral-ify’ your overall banking experience. We all have experienced a lack of knowledge of financial products.

Our financial decisions and actions depend on a solid financial literacy foundation.

With Saral Banking Sewa, you can choose the best financial products such as loans, credit cards, fixed deposits, savings accounts, and many more. This is done through a safe, simple, and easy-to-use platform. 

Our platform enables you to compare numerous financial solutions with ease and provides you with unbiased recommendations. 

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