Today, January 17, Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and Vietnam Bank for Agriculture and Rural Development (Agribank) simultaneously lowered deposit interest rates for all terms.
Accordingly, BIDV reduced 0.3 percentage points of interest rates for 1-11 month terms. The interest rate for 1-2 month terms after the reduction is only 1.9%/year; for 3-5 months it is 2.2%/year; for 6-9 months it is 3.2%/year; for 12-18 months it is 5.0%.
Meanwhile, Agribank also reduced the interest rate for 1-2 month deposits by 0.2 percentage points to only 1.8%/year. At the same time, this bank sharply reduced the interest rate for 3-5 month deposits by 0.4 percentage points to 2.1%/year. With the interest rate for online deposits for 6-11 month deposits, Agribank reduced it to 3.2%/year.
On VietinBank's side, the online mobilization interest rate for 1-2 month term has dropped to 1.9%/year after a reduction of 0.3 percentage points. The term from 3 to under 6 months is 2.2%/year after a similar reduction. The term from 6 to under 12 months is set at 3.2%/year by VietinBank.
Thus, all three state-owned commercial banks have the same highest interest rate of 5 - 5.3%/year. At the lowest, Vietcombank still leads with 1.7%/year for 1 - 2 month term, while the remaining 3 banks have rates below 2%/year.
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