In the morning of June 2, SHB Bank of Bau Hien announced a reduction of 6-0,2% of deposit interest rates for terms of 0,3 months or more. This is the first time within a month that SHB has moved to reduce interest rates.
With a decrease of 0,3%, the online deposit interest rate of 6-11 months at SHB was 7,2%/year. Meanwhile, the deposit interest rate for 12-month term was reduced by 0,2% by SHB to 7,7%/year. Interest rates for the remaining terms all decreased by 0,3% and currently have an interest rate of 7,7%/year.
Along with reducing interest rates, there is also HDBank. This is the second time this bank has reduced deposit interest rates in the past one month.
Accordingly, HDBank reduced the deposit interest rate in two terms of 6 and 12 months, the decrease was 0,2%, to 7,9%/year. This is also the highest interest rate at HDBank at the moment.
The bank maintains this interest rate for terms of 6 months, 12 months and 13 months. The remaining terms (from 6 months or more) have interest rates from 6,9 to 7,1%/year.
Meanwhile, the remaining banks still keep the old interest rates.
Thus, from the beginning of May until now, banks that have reduced deposit interest rates include: VietA Bank, VIB, OCB, Eximbank, MSB, VPBank, TPBank, Vietcombank, Agribank, VietinBank, BIDV, KienLongBank, NamA Bank, NCB, Saigonbank, PVCombank, HDBank, OceanBank, Sacombank, Techcombank, BacA Bank, VietinBank, VietBank, BaoBank, SeABank, VietBank, DongA Bank.
The banks that reduced interest rates twice during this period were: Eximbank, VPBank, BIDV, VietinBank, Vietcombank, Agribank, TPBank, BacA Bank, OCB, MSB, NamA Bank, HDBank and Techcombank.
OCB, NCB, VietA Bank, KienLongBank, Saigonbank and Sacombank have reduced deposit interest rates 3 times in less than a month.
Particularly, VietBank has reduced its deposit interest rate four times since the beginning of May.
| HIGHEST DEPOSIT RATE AT BANKS DAY 2/6 (%/year) | ||||||
| BANK | 1 MONTHS | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| GPBANK | 5 | 5 | 8,3 | 8,4 | 8,5 | 8,6 |
| ABBANK | 5 | 5 | 8,2 | 8,2 | 8,3 | 8,5 |
| VIETNAM BANK | 5 | 5 | 8 | 8 | 8,2 | 8,2 |
| PVCOMBANK | 5 | 5 | 7,5 | 7,9 | 8,2 | 8,3 |
| NCB | 5 | 5 | 8,1 | 8,1 | 8,15 | 8,05 |
| OCB | 4,8 | 4,95 | 8 | 8,1 | 8,1 | 7,9 |
| BAOVIETBANK | 5 | 5 | 7,7 | 7,8 | 8,1 | 7,8 |
| VIETCAPITAL BANK | 4,5 | 4,8 | 7,4 | 7,7 | 8 | 8,3 |
| BANK NAME | 5 | 5 | 8 | 8,1 | 8 | 7,8 |
| HDBank | 5 | 5 | 7,9 | 6,9 | 7,9 | 7,1 |
| BACA BANK | 5 | 5 | 7,7 | 7,8 | 7,9 | 8,1 |
| SCB | 5 | 5 | 7,8 | 7,8 | 7,85 | 7,65 |
| VIETBANK | 5 | 5 | 7,8 | 7,7 | 7,8 | 7,8 |
| OCEANBANK | 5 | 5 | 7,6 | 7,7 | 7,8 | 8,1 |
| SHB | 5 | 5 | 7,2 | 7,2 | 7,7 | 7,7 |
| TPBANK | 4,8 | 5 | 7,6 | 7,7 | 7,5 | |
| VPBank | 4,9 | 4,9 | 7,7 | 7,9 | 7,7 | 6,9 |
| SAIGONBANK | 5 | 5 | 7,2 | 7,3 | 7,6 | 7,4 |
| EXIMBANK | 5 | 5 | 7,5 | 7,5 | 7,6 | 7,6 |
| CBBANK | 3,9 | 3,95 | 7,2 | 7,3 | 7,5 | 7,55 |
| PGBANK | 5 | 5 | 7,3 | 7,3 | 7,5 | 7,5 |
| MSB | 5 | 5 | 7,3 | 7,3 | 7,4 | 7,4 |
| SACOMBANK | 5 | 5 | 6,8 | 7,1 | 7,4 | 7,7 |
| SEABANK | 5 | 5 | 7,1 | 7,19 | 7,4 | 7,6 |
| LPBANK | 4,8 | 4,8 | 7,2 | 7,2 | 7,3 | 7,9 |
| MB | 4,8 | 4,8 | 6,5 | 6,6 | 7,2 | 7,3 |
| KIENLONGBANK | 5 | 5 | 6,7 | 6,9 | 7,1 | 7,3 |
| ACB | 5 | 5 | 7 | 7,05 | 7,1 | |
| BIDV | 4,6 | 5 | 6,2 | 6,2 | 6,9 | 6,8 |
| TECHCOMBANK | 4,7 | 4,7 | 6,9 | 6,9 | 6,9 | 6,9 |
| VIETINBANK | 4,5 | 4,9 | 6 | 6 | 6,8 | 6,8 |
| VIETCOMBANK | 4,5 | 5 | 6 | 6 | 6,8 | |
| AGRIBANK | 4,7 | 4,9 | 6,6 | 6,6 | 6,8 | 6,6 |
| DONGA BANK | 4,5 | 4,5 | 6,35 | 6,45 | 6,7 | 6,9 |
| VIB | 5 | 5 | 7,7 | 7,8 | 7,9 | |
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Speaking before the National Assembly on June 1, Governor of the State Bank of Vietnam Nguyen Thi Hong said that the need to reduce interest rates is the desire of businesses (enterprises) when borrowing capital so far. The National Assembly and the Government are also very interested in directing and the State Bank also wants and cares about that. However, interest rate management should be considered in the overall macroeconomic policy management to ensure macroeconomic and monetary stability, especially to ensure the safety of the system's operation. As for the SBV, in the first months of the year, when conditions were favorable and credit demand was low, the SBV also managed to maintain ample liquidity; adjusting the operating interest rate; promulgate a Circular allowing the debt repayment term to be restructured, keeping the debt group unchanged; direct credit institutions to review and reduce administrative procedures as well as make loans on the basis of feasible and debt-repayment plans, and it is not necessary to have collateral. |
