Interbank interest rates rose to nearly 11% per year.

The State Bank of Vietnam has just announced interbank interest rates for June 1st, with increases ranging from 0.4% to 3% per year compared to the end of May, including some maturities reaching nearly 11% per year.

According to the State Bank of Vietnam, the average interbank interest rate on June 1st increased sharply for short-term maturities under one month, ranging from 0.7% to 3.7% per year. Specifically, the overnight rate rose to 10.66% per year, the one-week rate to 9.77% per year, and the two-week rate to 8.09% per year. Interest rates for maturities of one month or more increased more slowly, by about 0.4% per year, such as the one-month rate to 7.53% per year, the three-month rate to 7.86% per year, and the six-month rate to 7.53% per year.

Transaction volumes decreased compared to the end of May, but remained concentrated in short-term maturities. For example, overnight transactions were at VND 809,334 billion (down VND 200,000 billion), and 1-week transactions were at VND 2,320 billion (down VND 30,000 billion)...

Interbank Vietnamese Dong interest rates have risen sharply.

PHOTO: NGOC THANG

Current savings interest rates offered by banks are quite diverse and competitive across various channels. At Vietcombank , the online interest rate on the app for priority customers is 3.2%/year higher than the rate published on the website for a 6-month term. Specifically, the interest rate on the app is 6.6%/year, while on the website it is 3.5%/year. Furthermore, priority customers can choose an upfront interest rate of 6.38%/year. For a 12-month term, the interest rate is 6.8%/year, 0.9%/year higher than the rate published on the website.

Some banks are offering high interest rates, such as Saigonbank, which is listing an online savings interest rate of 7.9% per year for a 13-month term. This is the highest rate in the bank's listed interest rate schedule and is among the highest in the market today. Sacombank applies online interest rates for terms from 12 to 36 months with rates ranging from 7% to 7.1% per year. Vikki Digital Bank applies a 13-month savings interest rate of 7.9% per year for deposits of 999 billion VND or more. For the 6-month term, some banks offer high savings interest rates such as Bac A Bank (7.05% per year), MBV (7% per year), PGBank (6.9% per year)... For the 12-month savings term, many banks are offering interest rates above 7% per year, such as VIB, PGBank, MBV...

Source: https://thanhnien.vn/lai-suat-lien-ngan-hang-len-gan-11-nam-185260603092543466.htm