(NLDO) – A few days after the request to reduce interest rates, a series of banks have posted new savings interest rates, far from the 6%/year mark.
On March 6, according to a reporter from Nguoi Lao Dong Newspaper, many banks simultaneously reduced deposit interest rates for all terms, especially long terms.
According to Wigroup's statistics, the 24-month deposit interest rate is currently only mobilizing at 6.1%/year at Oceanbank; banks mobilizing at 5.9%/year are VCBNeo, Vikki Bank, BVBank...
Some banks that previously mobilized over 6%/year for long-term deposits such as BVBank, Saigonbank, Vikki Bank, and BacABank no longer maintain this mark.
Most banks have adjusted their savings interest rates to below 6%/year, such as BacABank reduced from 6% to 5.8%/year; BaoVietBank reduced from 5.8%/year to 5.5%/year; Saigonbank reduced from 6% to 5.8%/year; TPBank reduced from 5.8% to 4.9%/year...
For many other terms, some banks also adjusted interest rates down such as Eximbank, VIB, Kienlongbank, LPBank... In general, mobilization interest rates are decreasing quite rapidly after the Prime Minister's telegram and the direction of the State Bank.
Interest rates fall rapidly at some commercial banks
At the regular press conference of the Government in February 2025 on March 5, the Standing Deputy Governor of the State Bank Dao Minh Tu informed that up to now, statistics show that 12 banks have reduced their interest rates, some banks have reduced them very deeply. On average, the deposit interest rate of some banks has decreased by up to 0.7%. Many banks have launched very suitable credit packages at this time, especially consumer loans and social housing loans for the poor and low-income people.
Previously, after the 2025 Lunar New Year holiday, some banks increased their interest rates for some terms. According to Mr. Dao Minh Tu, the goal and viewpoint at this time is to create favorable conditions to support businesses and borrowers at positive interest rates. Therefore, immediately after the Prime Minister's telegram, the State Bank directed banks to adjust interest rates down.
Mr. Dinh Duc Quang, Director of Currency Trading, UOB Vietnam Bank, analyzed that some information about commercial banks sharply increasing deposit interest rates after Tet is just a local development. The largest commercial banks continue to apply 12-month term deposit interest rates around 4.8-5%/year; the group of joint stock banks has a 12-month interest rate of about 5.5%, stable in recent months. This is a suitable interest rate in the context of VND depreciating about 5% compared to USD in 2024.
In the coming time, the State Bank will closely monitor interest rates to ensure that it can both create initiative for commercial banks and share with businesses by reducing costs and reducing lending interest rates for all terms. The State Bank will proactively operate its tools to create conditions for commercial banks to have liquidity and capital sources, without having to increase mobilized capital.
Source: https://nld.com.vn/nhieu-ngan-hang-niem-yet-lai-suat-tien-gui-roi-khoi-moc-6-nam-1962503061329323.htm
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