On the morning of February 26, numerous commercial banks lowered their deposit interest rates following a meeting with the State Bank regarding the implementation of measures to stabilize deposit interest rates, support production and business development, and foster growth.
At Maritime Commercial Joint Stock Bank (MSB), the maximum savings interest rate is currently 5.6% per annum, applicable to terms of 12 months or longer, with interest disbursed at the end of the term. Vietnam Export Import Commercial Joint Stock Bank (Eximbank) had previously set the interest rate for long-term deposits ranging from 15 to 34 months at 6.2% to 6.5% per annum. However, on the afternoon of February 25, it released a revised interest rate schedule effective from February 26, which indicates that the highest mobilization interest rate is now 5.8% per annum for a 24-month term. The rates for 15 and 18-month terms are 5.6% and 5.7% per annum, respectively, while the rates for 36 and 60-month terms are 5.1% and 5.2% per annum.
At the Joint Stock Commercial Bank for Industry and Trade of Vietnam (BVbank), the interest rate for a 12-month term has decreased from 6.05% per annum to 5.8% per annum, the 15-month term from 6.25% per annum to 5.9% per annum, the 18-month term from 6.35% per annum to 6% per annum, and the 24-month term from 6.45% per annum to 6.05% per annum. Notably, the 36-month term has been removed from the current interest rate schedule.
Numerous banks are implementing new deposit interest rates, which are decreasing by 0.1% per annum, with rates ranging from 4.5% to 5.7% per annum for terms of 12, 24, and 36 months.
Reported by Thanh Hong - Translated by Vi Bao
