Kathmandu: The popular app, Hamro Patro, has introduced a feature that allows users to compare interest rates across banks. This new feature, named 'Bank Rate', has been added to the app from Monday.
With the help of this feature, users can easily find out the interest rates available for various accounts in a specific bank, which bank offers more interest on deposits, or which bank provides loans at a cheaper interest rate. To know the available interest rates for different accounts in a specific bank, users need to select the bank's name and the type of account.
However, to compare the interest rate of one bank with another, users need to click on the comparison icon (two arrows pointing in opposite directions) located at the top right, and then select any two accounts they wish to compare under 'Compare with'. Bank Rate, kept as a subdomain, allows users to compare the interest rates available for savings accounts just like comparing the interest rates for loans provided by different banks.
For this, users need to click on 'Loan' located in the middle at the bottom. Along with this, an EMI calculator is also provided to know how much the installment of the loan amount will be.
Hamro Patro, which has made the 'Bank Rate' feature public, has announced plans to refine this feature in coordination with the related banks.