Many banks continued to reduce deposit interest rates for terms, some banks changed the interest rate table twice in a short time.
In the latest interest rate table, Nam A Commercial Joint Stock Bank (Nam A Bank) has reduced interest rates on savings deposits at counters and online for tenors.
Accordingly, for customers depositing at the counter, Nam A Bank adjusted the interest rate for a 6-7 month term to 7.2%/year; the interest rate for a 14-month term is 7.1%/year and for a long-term period of 15 months or more, it is only 6.9%/year. These interest rates decreased from 0.25 - 0.4 percentage points compared to the previous one. This is the second time this bank has lowered its deposit interest rate in about 2 weeks.
For online savings customers, Nam A Bank also reduced interest rates for terms over 6 months to 7.9%/year; tenors from 10-12 months to 7.6%/year. These interest rates dropped by about 0.7 percentage points compared to the end of May.
Talking to Nguoi Lao Dong Newspaper, a representative of Nam A Bank said that the reduction in deposit interest rates is in line with the general trend of the market, contributing to lowering input costs in order to reduce further lending interest rates. support businesses, people, and the economy. At the same time, in the context of low credit demand, lowering deposit rates is also inevitable to add room to reduce loan interest.
Not only Nam A Bank, as noted, but many other banks also recently reduced deposit interest rates.
The International Commercial Joint Stock Bank (VIB) also updated the new interest rate table in the direction of a further reduction of 0.1 - 0.2 percentage points compared to the previous one. The savings interest rate at VIB's counter for a 7-8 month term is 7.4 %/year; a 9-11 month term is 7.5 %/year. The highest deposit interest rate at this bank is currently 8.2 %/year for a 12-month term.
Saigon - Hanoi Commercial Joint Stock Bank (SHB) also dropped 0.1 percentage points with some tenors. Currently, the highest deposit interest rate at this bank is 8%/year for an 18-month term, while for terms of less than 12 months, the highest interest rate is only 7.5%/year.
Another bank that also reduced input interest rates is Viet Capital Bank, with a reduction of 0.2 percentage points for the 6-month term to 7.2%/year and the 9-month term to 7.7%/year...
The level of deposit interest rates is continuing to go down in the context that the credit demand of the economy has not increased as expected.