return icon Vietnamnet.vn

Banks lower interest rates following SBV’s policy rate cut

By March 17 noon, most of the commercial banks in Vietnam had lowered their interest rates on savings accounts with terms of less than 6 months after the State Bank of Vietnam (SBV) announced its policy rate cut a day earlier.

Banks lower interest rates following SBV’s policy rate cut hinh anh 1

Vietcombank cuts its deposit interest rate to 4.7 percent from 4.8 percent a year for the three-month term. 

 

 

Vietcombank cut its deposit interest rate to 4.7 percent from 4.8 percent a year for the three-month term while those for 1 – 2 month terms and terms of 12 months and longer were kept unchanged at 4.3 percent and 6.8 percent, respectively.

Vietinbank reduced it for terms of three months to less than six months by 0.05 percent to 4.75 percent a year while those for 1 – 3 month terms stayed at 4.3 percent a year.

The rates at Viet Capital Bank dropped to 4.7 percent from 4.85 – 4.9 percent for terms of one month to less than six months. The bank’s highest rate is now 8.5 percent a year for 13 month term.

Sacombank also announced a new rate table, down to 4.3 – 4.7 percent from 4.9 – 5 percent, depending on the maturities ranging from one month to less than six months.

ABC lowered its rate for the three-month term to 4.75 percent, two-month term to 4.55 percent and one-month term to 4.5 percent. Its highest rate of 7.45 percent is applicable to 36-month term deposits.

VIB also cut it by 0.4 percent to 4.6 percent a year for terms of one month to less than six months.

The SBV announced to reduce the ceiling interest rate to 4.75 percent from 5 percent a year for deposits with terms of one month to less than six months and to 0.5 percent from 0.8 percent for less-than-one-month terms, effective from March 17.

The central bank also cut its policy rates in an attempt to support the economy which has been hurt by the COVID-19 outbreak. Accordingly, the benchmark refinance rate was lowered to 5 percent from 6 percent and the discount rate to 3.4 percent from 4 percent.

At the same time, the overnight lending rate in the inter-bank market declined to 6 percent from 7 percent and the open-market-operation (OMO) rate, to 3.5 percent from 4 percent./.

Central bank cuts interest rates to buffer COVID-19 impact

Central bank cuts interest rates to buffer COVID-19 impact

The State Bank of Vietnam (SBV) will cut its policy rates starting from March 17 in an attempt to support the economy which has been hurt by the COVID-19 outbreak.

VN State Bank considers cutting prime interest rate

VN State Bank considers cutting prime interest rate

The State Bank of Vietnam (SBV) is to make decision soon on cutting the prime interest rate, the bank’s Deputy Governor Dao Miinh Tu said at a meeting on March 12.

MORE NEWS

VIETNAM BUSINESS NEWS MAY 26

Vietnamese economy to do well in 2022: experts

VIETNAM NEWS HEADLINES MAY 26

Two die in elevator accident at Hanoi building

Will Vietnamese "unicorn" Coin98 be listed on Coinbase?

If this turns out to be true, US investors will have easier access to Coin98. This would open a new development period for Vietnamese Blockchain startups.

VN jumps eight notches in WEF’s Travel & Tourism Development Index

Vietnam’s travel and tourism sector has jumped eight steps despite two years of slowdown caused by the pandemic, according to the World Economic Forum’s (WEF) latest study.

VN real estate bonds shackled by rules

Although experts believe that rating agencies are an indispensable element of a healthy and transparent market, and a significant fundraising channel, real estate developers may suffer hurdles due to stringent bond issuance rules.

Vietnam Int’l Fashion Tour helps promote national culture, tourism

The debut version of the Vietnam International Fashion Tour (VIFT) will get underway in 2022 and 2023 across five cities and provinces, with the aim of popularizing the country’s culture and tourism to the world, said organisers.

Foreigners’ joint ownership of seaports, airports in Khanh Hoa mustn’t be allowed

When discussing the draft resolution on special policies on a trial basis in Khanh Hoa province on May 24, many National Assembly deputies showed concern about the foreign ownership of seaports and airports.

Vietnam-Asia DX Summit 2022 opens in Hanoi

The Viet Nam-Asia Digital Transformation (DX) Summit 2022 opened in Ha Noi yesterday, where experts are examining ways to further utilise the...

Reaching growth target a challenge for this year: NA chair

National Assembly Chairman Vuong Dinh Hue yesterday day expressed his concern that this year’s growth target will be hard to reach.

Hai Phong tops Public Administration Reform Index for first time

Hai Phong and the Ministry of Justice topped the Public Administration Reform Index (PAR Index) of 2021, based on feedback collected from more than 79,000 people about administration reforms in 63 localities and 17 ministries in Vietnam.

Thai retail corporation to sell some 1,000 tonnes of lychees

Thailand's retail corporation Central Retail in Vietnam plans to put on shelves about 1,000 tonnes of lychee this year, with first batches of the fruit from Bac Giang province transported to its supermarkets after a ceremony on May 25.

Facebook ads in Vietnam to be charged 5 percent VAT from June 1

Facebook ads in Vietnam will be subject to a 5 percent value added tax (VAT) beginning from June 1.

Base.vn owner successfully calls for $3.5 million of capital

The investment in True Platform is one of the largest ever seed-round investment deals in a technology startup in Southeast Asia.

Hanoi to spend VND60 billion for civil servants to study for master’s, doctoral degrees

Under a project on improving the quality of its personnel, Hanoi plans to spend VND61 billion to send civil servants and public employees to training courses for master’s and doctoral degrees in Vietnam and overseas.

Japan helps Vietnam with earth observation satellite project

JICA has signed a loan agreement with the Vietnamese Government to provide a Japanese ODA loan worth over 18,870 million yen for the Disaster and Climate Change Countermeasure project using the earth observation satellite.
back_to_top