Vietnam Export Import Commercial Joint Stock Bank (Eximbank - HoSE: EIB) has just adjusted down deposit interest rates for terms of 1-60 months from February 27.
Accordingly, the bank adjusted the interest rate down by 0.2-0.4 percentage points. Specifically, for non-term deposits, customers with an end-of-day balance of less than VND5 million will enjoy an interest rate of 0.2%/year, customers with an end-of-day balance from VND5 million to less than VND100 million will enjoy an interest rate of 0.5%/year.
For term deposit interest rates, the interest rate is 2.7%-2.9%/year for terms from 1 month to 2 months, the interest rate for 3-month terms is 3%/year and the interest rate is 3.3%/year for terms from 4-5 months.
The bank adjusted the interest rate to 3.8%/year for a 6-9 month term; 4.5%/year for a 10-11 month term. For a 12 month term, the interest rate is 4.8%/year; for a 13 month term, it is 4.9%/year; for a 15 month term, it is 5%/year. The interest rate for a 24-36 month term at the bank is 5.1%/year.
The highest interest rate that Eximbank offers is 5.2%/year for a 60-month term. In the online deposit interest rate table, the bank offers an interest rate 0.1%/year higher than the interest rate table at the counter.
Vietnam Prosperity Joint Stock Commercial Bank (VPBank) previously also adjusted its deposit interest rates down by 0.4-0.6 percentage points at many terms. Specifically, the bank adjusted its interest rates down from 3-3.3%/year to 2.5-2.7%/year, at 1-month terms.
Banks reduced interest rates by 0.5-0.6 percentage points for 3-month terms to 2.7-2.9%/year. For 6-month and 9-month terms, interest rates were reduced from 4.2-4.6%/year to 4.2-4.4%/year. Deposit interest rates were reduced from 5%/year to 4.5-4.7%/year for 12-month terms.
For deposits of 50 billion VND or more, the interest rate applied is 4.7%/year. For deposits under 10 billion VND, the interest rate applied is 4.5%/year.
For 24-month and 36-month terms, VPBank has adjusted the interest rate down from 5%/year to 4.6-4.8%/year. Of which, deposits under VND10 billion have an interest rate of 4.6%/year. Deposits under VND50 billion have an interest rate of 4.7%/year. Customers depositing from VND50 billion have an interest rate of 4.8%/year. For online mobilization interest rates, VPBank has adjusted down by 0.4-0.6 percentage points, 0.1% higher than at-the-counter deposits.
Thus, since the beginning of February until now, 22 banks have reduced deposit interest rates including: Techcombank, ACB, VIB, BVBank, KienLong Bank, NCB, Viet A Bank, SeABank, ABBank, Bac A Bank, PGBank, Sacombank, Dong A Bank, GPBank, MB, CBBank, VietBank, VPBank, LPBank, Sacombank, Eximbank. Of which, VIB and Eximbank are the banks that have reduced deposit interest rates 3 times since the beginning of February .
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