From today (May 25), according to a new decision by the State Bank, the maximum interest rate that banks apply to deposits with terms from 1 month to less than 6 months will officially decrease from 5.5%/year to 5.0%/year.
Since yesterday, many commercial banks have started to reduce deposit interest rates and many units have also simultaneously adjusted their deposit interest rates on the morning of May 25.
Surveying the current interest rate tables of banks, up to 28 banks have changed their interest rate tables. Of which, most have reduced 0.5% points for terms from 1 month to less than 6 months to the ceiling of 5%/year and kept the same for long terms.
Accordingly, in the Big4 group, Agribank and Vietinbank both adjusted the 3-month term interest rate down from 5.1% to 4.6%/year, this level far exceeds the maximum interest rate ceiling of 5%/year of the State Bank.
Also for this term, BIDV adjusted down from 5.1% to 5%/year. On the other hand, for the 6-month term, this bank increased from 5.8% to 6.2%/year.
This “big guy” also adjusted the interest rate term for terms over 6 months. Accordingly, the 12-month term decreased by 0.3 percentage points from 7.2% to 6.9%/year, the 24-month term decreased by 0.4 percentage points from 7.2% to 6.8%/year.
Other private commercial banks also simultaneously adjusted their 3-month interest rates down according to the ceiling of 5%/year regulated by the State Bank.
Specifically, ACB reduced from 4.8% to 4.1%/year; Bac A Bank reduced from 5.5% to 4.9%/year; Eximbank reduced from 5.5% to 5%/year; GPbank reduced from 6% to 5%/year; HDbank reduced from 5.5% to 5%/year; Hong Leong Bank reduced from 5.2% to 4.7%/year, NCB reduced from 5.5% to 5%/year, BaoViet Bank reduced from 5.5% to 5%; Techcombank reduced from 5%/year to 4.7%/year...
In addition to the 3-month term, terms of 6 months or more have also been adjusted down by a series of banks.
At BaoViet Bank, the 6-month term has been adjusted down from 7.8% to 7.5%/year. The 12-month term has been reduced from 8.4 to 8.1%/year.
With a 24-month term, customers depositing money at this bank will receive interest of 7.7%/year instead of 8.1%/year previously.
Banks that reduced interest rates for 6-month terms include GPBank, which reduced from 8.1% to 7.8%/year; HDBank, which reduced from 6.8% to 6.6%/year.
Meanwhile, Oceanbank increased from 7.6% to 7.9%/year; Vietcapitalbank increased from 7.2% to 7.9%/year in this term.
Currently, small-scale banks such as ABBank, VietABank, GPBank, VietABank still have the highest interest rates on the market, with listed interest rates from 8.5%/year or more.
In a meeting with Deputy Prime Minister Le Minh Khai yesterday (May 24), leaders of commercial banks such as Agribank, Vietinbank, BIDV, Vietcombank, MB, Techcombank agreed to continue to "save", reduce operating costs, make efforts to continue to reduce deposit interest rates, and move towards reducing lending interest rates; directing credit to areas with access to capital, priority areas to promote production and business...
Deputy Prime Minister Le Minh Khai also requested the State Bank and the banking system to continue implementing solutions to reduce operating costs and lower deposit interest rates to establish a reasonable interest rate level to support businesses in accessing capital, overcoming difficulties, and developing production and business.
Receiving the Deputy Prime Minister's direction, Deputy Governor Dao Minh Tu said that in the coming time, the State Bank will continue to direct the commercial banking system to reduce operating costs in order to continue to lower interest rates, share profits with businesses; review and reduce fees; create synchronization for banks; restructure debts, "more urgently"...
Source
Comment (0)