Savings interest rates decrease across the board
On the morning of April 3, some banks adjusted their VND savings interest rates down by 0.3 - 0.8% per year. This is the third consecutive reduction by banks within 1 month.
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) reduced the interest rate for VND savings deposits with terms of less than 6 months to 5.5%/year, 6-8 months to 7.3%/year, 9-11 months to 7.4%/year, 12 months to 7.6%/year... The highest interest rate of this bank is 8%/year for a term of 36 months.
Asia Commercial Joint Stock Bank (ACB) has reduced the interest rate for deposits in VND for terms of less than 6 months to 4.9 - 5.5%/year, 6 months to 6.7%/year, 12 months to 7.1%/year, and 13 months or more to 7.5%/year. Military Commercial Joint Stock Bank (MB) has reduced the interest rate for deposits of less than 6 months to 5.4 - 5.5%/year, 6 months to 7%/year, 12 months to 7.4%/year, and 36 months or more to 7.2%/year...
National Citizen Commercial Joint Stock Bank (NCB) has a deposit interest rate of 5.5%/year for terms under 6 months, 8.4%/year for 6-9 months, 8.45%/year for 10-13 months, and 8.55%/year for 15-30 months.
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Banks simultaneously reduced deposit interest rates on the morning of April 3. |
In addition, Saigon Commercial Joint Stock Bank (SCB) has also adjusted the interest rate for terms under 6 months down to 5.5%/year. However, the interest rate table of this bank still shows an interest rate of 9%/year for terms of 12 months. Saigon Commercial Joint Stock Bank for Industry and Trade (Saigonbank) has reduced the interest rate for short terms under 6 months down to 5.5%/year. The highest interest rate of this bank is 8.6%/year for terms of 13 months.
The reason why banks simultaneously reduced interest rates comes from the State Bank's decision to reduce operating interest rates by 0.3 - 0.5%/year, effective from April 3, in which interest rates for terms under 6 months decreased from 6%/year to 5.5%/year./.