The group of 4 state-owned banks (Vietcombank, VietinBank, BIDV, Agribank) has just continued to adjust long-term deposit interest rates after reducing the 3-month interest rate to the ceiling regulated by the State Bank yesterday.
For deposits at the counter, Vietcombank is the bank that offers the highest interest rate among the Big 4, maintaining 7.2%/year for a 12-month term. Meanwhile, BIDV, Agribank and VietinBank have all reduced it to only 6.8%/year.
In this group, Agribank has the lowest interest rate. The bank has adjusted the 12-month deposit interest rate to 6.8%/year, and continued to reduce the term from 13 months to 6.6%/year.
BIDV and VietinBank apply 6.8%/year for all terms of 12 months or more.
Since yesterday, the Big 4 group has adjusted short-term interest rates to lower than the ceiling of 5%/year set by the State Bank, with the same rate of 4.1%/year for 1-month term and 4.6% for 3-month term. Interest rates at state-owned banks are currently the lowest in the banking system.
Updating the interest rate table at other banks, most units have reduced interest rates according to the regulation on deposit interest rates for terms of 1 to less than 6 months, maximum 5%/year.
Accordingly, at ABBank, interest rates for terms under 6 months have been adjusted down to a maximum of 5%/year. The bank also reduced interest rates for deposits with terms of 6 months or more by 0.3-0.7 percentage points.
Specifically, the 6-month term interest rate decreased by 0.3 percentage points to 8.2%/year; the 12-month term interest rate decreased by 0.5 percentage points to 8.3%/year; the 36-month term interest rate decreased by 0.7 percentage points to 8.5%/year.
Vietbank also adjusted interest rates for terms of 6 months or more. Of which, it decreased by 0.3 percentage points for terms of 12 months, at 7.8%/year. Currently, the highest interest rate at Vietbank is for terms of 13 months, at 7.9%/year.
On the contrary, VietABank only reduced interest rates for terms under 6 months from 5.5%/year to 5%/year while keeping interest rates for terms over 6 months unchanged.
Currently, the highest interest rates on the market belong to small-scale banks such as ABBank, VietABank, GPBank, VietABank, with listed interest rates from 8.5 - 8.6%/year.
According to the State Bank, continuing to adjust down the operating interest rates is a flexible solution, suitable to current market conditions to support the economic growth recovery process according to the policy of the National Assembly and the Government, thereby continuing to orientate the reduction of the market lending interest rate level, contributing to removing difficulties for bank borrowers.
At the same time, the adjustment to reduce the ceiling interest rate on VND deposits for terms from 1 to less than 6 months also helps credit institutions reduce input costs, thereby creating favorable conditions to reduce lending interest rates, increase access to capital for businesses and people, contributing to promoting economic growth.
The monetary authority said it will continue to closely monitor domestic and international developments, forecast inflation and market interest rates to manage interest rates appropriately; continue to have solutions to encourage credit institutions to reduce costs to reduce lending interest rates to support businesses to recover and develop production and business .
Source
Comment (0)