KATHMANDU: Global IME Bank has raised its interest rate on personal term loans, effective today.

The bank, which previously offered a maximum rate of 5.75% in Magh, has increased it to 6% in Falgun.

This move comes in the midst of ongoing protests connecting Global IME Bank to the Pathibhara cable car dispute, with activists calling for a boycott of the bank’s financial services.

In contrast, Laxmi Sunrise Bank has reduced its interest rate from 5.75% in Magh to 5.5% in Falgun.

The other 18 commercial banks have chosen to keep their current rates unchanged.