24 banks reduce interest rates, one bank adjusted it down 7 times

24 domestic commercial banks have reduced interest rates in the past month. Illustrative photo.

Accordingly, after 1 month since the meeting to implement the Prime Minister's direction to find solutions to reduce interest rates, support businesses and people to access credit easily (February 25), 24 commercial banks adjusted to reduce interest rates, including Ban Viet, Hang Hai, Vietnam Thuong Tin, Saigon Cong Thuong, Quoc Te, Bao Viet, Kien Long, Bac A, Viet A, Thinh Vuong and Phat Trien (PGbank), Xuat Nhap Khau, Loc Phat, Nam A, Saigon - Hanoi ( SHB ), Quoc Dan (NCB), VCBNeo, BIDV, Techcombank, Vikki Digital Technology, Vietnam Modern (MBV), Phuong Dong (OCB), Cong Thuong, An Binh, Agriculture and Rural Development.

Since the beginning of March, 19 domestic commercial banks have reduced interest rates, including: Kien Long, Bac A, Viet A, PGbank, Loc Phat, Quoc Dan, Saigon-Hanoi, Nam A, VIB, VCBNeo, Eximbank, BIDV , Techcombank, Vikki, MBV, OCB Vietnam Industry and Trade, Vietnam Agriculture and Rural Development, An Binh.

Joining in the interest rate reduction on February 25, the Bank of Vietnam (BVbank) reduced 0.1-0.4% for terms from 6 to 60 months for deposits at the counter. For online deposits, this bank reduced 0.1% for terms from 6 to 8 months; 0.25% for terms from 9 to 12 months; 0.35% for terms from 15 to 18 months, and 0.4% for terms from 24 months.

Maritime Commercial Joint Stock Bank (MSB) reduced 0.2% for terms from 13-36 months for over-the-counter deposits. For online deposits, MSB reduced 0.2% for terms from 1-5 months and 12-36 months.

From February 26 to 28, Vietnam Commercial Bank (Vietbank), Saigon Commercial Bank, International Bank ( VIB ), and Bao Viet reduced their rates by 0.1-0.2% for short terms of 1-4 months and 12 months. Vietbank reduced the most for online deposits by 0.4% for 2-month terms.

On March 1, Bac A reduced 0.1% for terms from 1-11 months and reduced 0.2% for terms from 12-36 months for counter deposits.

On March 3, Viet A Bank, Loc Phat Bank (LPBank), Thinh Vuong and Development Bank (PGbank) all announced interest rate reductions. Of which, from March 3 to 12, PGbank reduced interest rates twice, by 0.2% for 24-36 month terms (first time on March 3) and by 0.1% for 9, 12, 13 month terms (second time on March 12).

From February 26 to March 21, Kien Long (KienlongBank) reduced interest rates 4 times. For individual customers depositing online, the reduction is 0.6-1.05% for terms of 1-60 months, and 0.2-0.35% for terms of 1-60 months at the counter. For corporate customers, the reduction is 0.2-0.35% for terms of 1-60 months.

From February 25 to March 24, the Export-Import Commercial Joint Stock Bank (Eximbank) reduced interest rates seven times for a number of programs. For over-the-counter deposits, the “Long-term Deposit with Peace of Mind” program reduced interest rates by 0.6-0.8% for terms of 15-36 months; Savings deposits reduced by 0.1-0.2% for terms of 6-24 months for regular customers and reduced by 0.3-0.4% for terms of 6-12 months for customers over 50 years old.

For online deposits, this bank reduced 0.1-0.2% for terms under 6 months and reduced 0.3-0.8% for terms from 6-36 months...

Source: https://hanoimoi.vn/24-ngan-hang-giam-lai-suat-co-ngan-hang-dieu-chinh-giam-7-lan-696941.html