VND interbank interest rates increase for some terms

The State Bank said that last week, the average interbank VND trading interest rate increased, in which the average interest rate for 1-week, 3-week and 3-month terms increased from 0.16% to 0.45%; for overnight, 2-week, 6-month and 9-month terms, the average interest rate increased from 0.73% (2-week term) to 1.67% (overnight term).

The remaining terms decreased by 1 month, 2 months and 12 months, with the respective decreases being 0.11 percentage points, 0.71 percentage points and 0.49 percentage points.

Illustration photo. (Source: Internet).

Meanwhile, the average USD trading interest rate decreased slightly for 1-week, 3-week and 1-month terms; the average interest rate for 12-month term decreased relatively with a decrease of 0.75 percentage points.

The average interest rates for the remaining terms increased, of which the overnight and 3-month terms increased slightly; the average interest rates for the 2-week, 2-month and 6-month terms increased from 0.42 percentage points (2-week term) to 1.46 percentage points (6-month term). There were no transactions for the 9-month term during the period.

Also according to the State Bank, last week, VND mobilization interest rates were stable compared to the previous week. Currently, the common interest rate for non-term deposits is 1-2%/year; for terms under 1 month 2%/year; for terms from 1 month to under 12 months 8.8-9%/year, for terms from 12 months or more 10-12%/year.

Common USD mobilization interest rates are 2%/year for individual deposits and 0.5% - 1%/year for economic organization deposits.

Regarding VND lending interest rates, implementing the direction of the Governor of the State Bank, up to now, all banks have issued documents to adjust and reduce interest rates on old loans to a maximum of 15%/year. For new loans, many credit institutions have implemented production and business lending programs with interest rates of 11-15%/year and lending to priority sectors at 10-13%/year.

In addition, during the week, Lien Viet Post Bank launched a credit package of 500 billion VND with an interest rate of 11.5%/year to support businesses in purchasing and temporarily storing rice for the 2012 summer-autumn crop.

Currently, the common lending interest rate for agriculture, rural areas, exports, small and medium enterprises, and supporting industries is 10-13%/year; lending to other production and business sectors is 12-15%/year.

USD lending interest rates decreased slightly compared to last week, commonly at 5-7%/year for short term; 6-8%/year for medium and long term./.

According to Vietnam+ (NT)