Saturday, January 28, 2023 12:14:47 AM - Markets open
VN-INDEX 1,117.10 +9.02/+0.81%
HNX-INDEX 220.76 +0.89/+0.40%
UPCOM-INDEX 74.99 +1.01/+1.37%
Banks continue lower deposit interest rates
VietNamPlus - 9/8/2021 4:54:13 PM
 (0 ratings. You must sign in to rate.)
The deposit interest rates at major banks has continued to decrease since the beginning week of September.
With its adjustment from 5.6 percent to 5.5 percent annually for 12-36 month-term savings, the Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank) are maintaining the lowest rates in the banking sector, like the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
Meanwhile, the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) keep its deposit interest rate at 5.6 percent for savings from 12 months. Interest rates for savings with terms from 1-3 months are varied from 3.1-3.4 percent per annum, while the rate for 6-9-month savings is 4 percent per year.
Reductions between 0.2-0.4 percent has been seen in deposit interest rates for different saving terms in joint stock commercial banks.
Statistics from the State Bank of Vietnam showed that the interest rates have been at the lowest level in many years.
However, some banks have still kept deposit interest rates at over 7 percent per annum for large savings, including the Asia Commercial Bank (7-7.3 percent), Techcombank (7.1 percent), and MSB (7 percent).
Economist Nguyen Tri Hieu held that in order to help businesses overcome COVID-19 impacts, it is necessary to set up credit complex in association with a Credit Guarantee Fund with a total loan limit of 300 trillion VND with the engagement of banks at a participation rate of about 3 percent of each bank's outstanding loans./.
Read original article here
Newer News
24/01 Cashless payments continue to grow in popularity
16/01 Insurance companies benefit from interest rate hike in 2023 [Sửa | Xóa]
11/01 Ministry calls for easing government control on fuel prices
11/01 Banking industry difficulties forecast to continue in 2023: analysts
09/01 Remittances boost HCM City growth
09/01 Enterprises in HCM City receive credit disbursement, but rates remain high
04/01 MoF aims to develop the insurance market
27/12 Banks required to cut rates to support economic recovery
27/12 Remittances are forecast to increase by 4.4% in 2022
27/12 Improved forex market helps central bank buy greenback
Older News
06/09 Reference exchange rate down 3 VND after National Day holiday
23/08 Reference exchange rate up 11 VND at week’s beginning
20/08 Reference exchange rate revised up 12 VND
16/08 Reference exchange rate up 8 VND at week’s beginning
12/08 Reference exchange rate down 26 VND on August 12
10/08 State budget collection up 15.6 percent in seven months
06/08 Reference exchange rate up 3 VND on August 6
03/08 Reference exchange rate revised down 4 VND
30/07 Reference exchange rate goes down
23/07 Reference exchange rate revised down by 6 VND
Newsletter Signup
Top Stories
Shares make large gains on banking, securities stocks
Trading in tight range ahead of Tết holidays
Enterprises in HCM City receive credit disbursement, but rates remain high
Market opens the new year on a positive note
Remittances are forecast to increase by 4.4% in 2022
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,117.10 +9.02/+0.81%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.