Thursday, July 7, 2022 6:01:21 PM - Markets open
VN-INDEX 1,166.48 +16.87/+1.47%
HNX-INDEX 271.86 -0.06/-0.02%
UPCOM-INDEX 86.38 +0.16/+0.19%
Banks continue lower deposit interest rates
VietNamPlus - 9/8/2021 4:54:13 PM
 (0 ratings. You must sign in to rate.)
The deposit interest rates at major banks has continued to decrease since the beginning week of September.
 
With its adjustment from 5.6 percent to 5.5 percent annually for 12-36 month-term savings, the Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank) are maintaining the lowest rates in the banking sector, like the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank).
 
Meanwhile, the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) keep its deposit interest rate at 5.6 percent for savings from 12 months. Interest rates for savings with terms from 1-3 months are varied from 3.1-3.4 percent per annum, while the rate for 6-9-month savings is 4 percent per year.
 
Reductions between 0.2-0.4 percent has been seen in deposit interest rates for different saving terms in joint stock commercial banks.
 
Statistics from the State Bank of Vietnam showed that the interest rates have been at the lowest level in many years.
 
However, some banks have still kept deposit interest rates at over 7 percent per annum for large savings, including the Asia Commercial Bank (7-7.3 percent), Techcombank (7.1 percent), and MSB (7 percent).
 
Economist Nguyen Tri Hieu held that in order to help businesses overcome COVID-19 impacts, it is necessary to set up credit complex in association with a Credit Guarantee Fund with a total loan limit of 300 trillion VND with the engagement of banks at a participation rate of about 3 percent of each bank's outstanding loans./.
VNA
 
Read original article here
 
Newer News
14:26 Banks to have credit expansion at end-Q3 2022
01/07 Flexible adjustment needed in growth economy
25/06 Roadmap needed to remove credit room
24/06 Current credit room no longer suitable
24/06 Central bank sold roughly $7 billion to stabilise forex market
23/06 State Bank of Vietnam unwilling to dismantle credit room
22/06 Credit room management at banks under pressure
22/06 Vietnam Techcombank breaks record with the closing of a USD 1 bn offshore syndicated loan facility
21/06 Central bank stands ready to pump more foreign currencies to market: official
15/06 Vietnam's credit growth expands by over 17 percent
Older News
06/09 Reference exchange rate down 3 VND after National Day holiday
23/08 Reference exchange rate up 11 VND at week’s beginning
20/08 Reference exchange rate revised up 12 VND
16/08 Reference exchange rate up 8 VND at week’s beginning
12/08 Reference exchange rate down 26 VND on August 12
10/08 State budget collection up 15.6 percent in seven months
06/08 Reference exchange rate up 3 VND on August 6
03/08 Reference exchange rate revised down 4 VND
30/07 Reference exchange rate goes down
23/07 Reference exchange rate revised down by 6 VND
 
Newsletter Signup
Top Stories
Shares pierce May-bottom on weak investor sentiment
Vietnam’s CPI up 2.44% in six months
HPG: Hoa Phat wants to invest big in two infrastructure projects
Legal framework for securities, corporate bond investment, business strengthened: SBV Governor
Steel prices cool down as input costs drop
Market Update
Last updated at 3:04:59 PM
VN-INDEX 1,166.48 +16.87/+1.47%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.