Your savings account is the financial foundation of your everyday life. But not all savings accounts are created equal — in Nepal, interest rates on savings accounts vary significantly across banks, and choosing the right one can make a meaningful difference to your annual interest earnings.
This guide covers how savings account interest rates work in Nepal, what factors to compare, and how to use our updated rate tables to find the best savings account for your needs.
How Savings Account Interest Works in Nepal
In Nepal, savings account interest is typically calculated on the minimum monthly balance or the average daily balance, depending on the bank’s product terms. Interest is credited to your account quarterly in most cases.
NRB has historically set a minimum interest rate floor for savings accounts. As of the latest NRB directive, commercial banks must pay a minimum rate on regular savings accounts, though in practice many banks pay significantly above the floor rate to attract deposits.
Types of Savings Accounts in Nepal
- Regular Savings Account: Standard account for everyday transactions. Lower minimum balance, lower interest rate.
- Premium/High-Yield Savings: Requires maintaining a higher minimum balance but earns a higher interest rate.
- Remittance Savings Account: Designed for families receiving remittances from abroad. Often offers the highest savings interest rates — sometimes 1–2% above regular rates.
- Women’s Savings Account: Special accounts with preferential rates for female account holders.
- Senior Citizen Accounts: Higher rates for customers above 60 years.
- Student/Youth Accounts: Low or zero minimum balance for students.
Current Savings Account Rates in Nepal
Regular savings account rates at commercial banks in Nepal typically range between 3% to 7% per annum as of Baishakh 2083. Remittance savings accounts offer the highest rates — up to 8–10% at some BFIs.
View our live Savings Account Interest Rate table for the latest bank-wise comparison.
How to Choose the Best Savings Account in Nepal
- Compare interest rates: Use our rate table to identify which bank pays the most for your balance tier.
- Check minimum balance requirements: High-rate accounts often require maintaining NPR 25,000–1,00,000 minimum balance. Failing to maintain this can attract fees or reduce your rate.
- Evaluate ATM and digital banking: Easy access to your money is as important as the interest rate.
- Consider proximity: If you deposit frequently, branch and ATM network matters.
- Look at the bank’s overall health: Check NPA ratios on our NPA page before opening an account.
Remittance Savings: The Hidden High-Rate Option
If you or your family receives money from abroad, you could qualify for a Remittance Savings Account which earns significantly higher interest than a regular savings account. Some banks offer 8–10% interest on remittance savings — double the rate of a regular savings account. See our Remittance Savings Rate comparison.
Calculate Your Savings Interest
Use our Savings Interest Calculator to estimate how much interest your balance will earn in a year at different banks.
FAQs
Is savings account interest taxed in Nepal?
Yes. Interest above NPR 10,000 per year from savings accounts is subject to 5% TDS in Nepal.
Can I open multiple savings accounts in Nepal?
Yes. There is no restriction on the number of savings accounts you can hold across different banks. Many Nepalis maintain accounts at 2–3 banks for different purposes.
What is the minimum balance for a savings account in Nepal?
Minimum balance requirements vary widely — from zero (digital/student accounts) to NPR 1,00,000 for premium accounts. Most regular savings accounts require NPR 5,000–25,000.
Best Savings Account Rates in Nepal — Baishakh 2083 Quick Comparison
Based on officially published rates for Baishakh 2083, here are the top savings accounts by interest rate across all NRB-licensed BFIs:
| Bank / FI | Class | Account Name | Rate (% p.a.) |
|---|---|---|---|
| Reliance Finance | Class C | Remittance savings | 6.00% |
| Best Finance | Class C | Remittance saving | 5.75% |
| ADBL | Class A | Matribhumi / Remittance Savings | 5.36% |
| Himalayan Bank | Class A | Himal Remit Savings | 5.00% |
| Prime Bank | Class A | Baideshik Remit Savings | 5.00% |
| Nepal Bank | Class A | Remittance Saving / Remit IPO | 4.76% |
| ADBL | Class A | Platinum / Ba Amma Savings | 4.39% |
| NIC ASIA Bank | Class A | Sarbashrestha Remit A/C | 4.25% |
| Prime Bank | Class A | Jeevan Suraksya / Supreme Bachat | 4.01% |
| Himalayan Bank | Class A | Subidha / Exclusive Privilege | 4.00% |
📊 Top 10 savings accounts by interest rate, Baishakh 2083. See the full comparison of all BFI savings rates.
Key insight for Baishakh 2083: The highest savings rates consistently come from remittance savings accounts rather than regular accounts. If you or your family receives remittances from abroad, you can earn 4.00%–6.00% p.a. simply by routing funds through an NRB-approved remittance channel into these dedicated accounts — significantly more than the 2.75% earned on a regular savings account.