What is the highest deposit interest rate in Ha Tinh?

From May 25, 2023, deposit interest rates at banks in Ha Tinh tend to decrease. The highest deposit interest rate listed at the counter is 8.1%/year for some terms.

According to research, capital mobilization interest rates of banks have continuously decreased sharply since February, especially after the reduction of operating interest rates and deposit interest rate ceilings by the State Bank of Vietnam (SBV). Most recently, since May 25, after the SBV decided to reduce the ceiling interest rate for deposits with terms of less than 6 months, many banks in Ha Tinh continued to lower interest rates for many deposit terms.

From May 26, 2023, Vietcombank Ha Tinh Branch simultaneously reduced 0.4%/year for all deposit terms.

During this period of deposit interest rate reduction, "big guys" such as Vietcombank, Agribank , BIDV and VietinBank also "joined in" with a reduction of up to 0.4%/year for terms of 6 months or more, bringing the highest interest rate to only 6.8 - 7%/year.

Ms. Nguyen Thi Ngoc Ha - Head of Customer Service Department (Vietcombank Ha Tinh Branch) said: "With the goal of accompanying the economy, lowering lending interest rates to support production and business, from May 26, 2023, Vietcombank has reduced deposit interest rates for terms from 12 - 36 months to 6.8%/year (previously 7.2%/year). Similarly, other deposit terms have also been adjusted down by 0.4%/year compared to before".

According to Ms. Nguyen Thi Ngoc Ha, although deposit interest rates tend to decrease, savings are still an effective and safe investment channel, so customers still trust them. However, at this time, there has been a change in customers' choice of deposit terms. Specifically, previously many customers chose to deposit for a long term of 12 - 24 months, but now they tend to deposit for a short term of 6 months. Accordingly, the total capital mobilized by the branch up to this point has reached about 12,000 billion VND.

Transaction activities at HDBank Ha Tinh Branch.

For the joint stock commercial banking system, there has been an average decrease of 0.5%/year for terms under 6 months, corresponding to the decrease of the State Bank of Vietnam. For terms of 6 months or more, these banks have decreased by an average of 0.2 - 0.3%/year compared to 2 weeks ago.

At HDBank Ha Tinh Branch, from May 25, 2023, the interest rate for deposits from 1 to less than 6 months has been adjusted down from 5.5%/year to 5%/year; for 12-month term, it has been reduced from 8.3%/year to 8.1%/year.

Similarly, Bac A Bank Ha Tinh Branch has changed the deposit interest rate framework. According to Ms. Phan Thi Minh Thai - Head of Customer Service - Treasury, Bac A Bank Ha Tinh Branch, from May 25, 2023, the capital mobilization interest rate at the branch has decreased to 8.1%/year for terms of 18, 24 and 36 months; for terms of 12 months, it has decreased to 7.9%/year, for terms of 6 months, it is 7.7%/year... (this interest rate does not include the actual agreement of the bank with regular customers, VIPs, and large-value deposits).

Customers come to deposit savings at Bac A Bank Ha Tinh Branch.

Currently, the highest interest rate on bank deposits listed at the counter in Ha Tinh is 8.1%/year (for terms of 12, 18, 24 and 36 months). The adjustment to reduce the ceiling interest rate on VND deposits with terms from 1 to less than 6 months and reductions in some other terms has helped banks reduce input costs, thereby creating favorable conditions to reduce lending interest rates, increase access to capital for businesses and people, contributing to promoting economic growth.

It is worth noting that although the mobilization interest rate has decreased, the capital mobilization channel of the bank is still growing. Many people still choose savings as an ideal investment channel when real estate and securities investment sources are not stable. Ms. Nguyen Thi Hong (Thach Linh ward, Ha Tinh city) said: "I think that currently, savings are still profitable and safe. Therefore, recently, my family decided to deposit 300 million VND, with a term of 12 months, at a joint stock commercial bank in the area."

Reducing capital mobilization interest rates will create room for banks to reduce lending interest rates, supporting the economy.

The continued reduction of deposit interest rates by local banks is expected to be a “catalyst” to reduce lending interest rates, supporting the economy as soon as possible. According to many businesses, in recent months, although banks have taken steps to reduce lending interest rates, the reduction has not yet met the expectations of the business community, cooperatives, and production and business households in the area.

In the context that organizations and individuals participating in production and business are facing many challenges such as: decreasing orders, increasing production costs while product prices do not increase, and difficulties in expanding the market, it is important that banks have solutions to further reduce lending interest rates as soon as possible.

According to data from the State Bank of Vietnam, Ha Tinh Branch, as of May 31, 2023, the total mobilized capital of credit institutions in the area is estimated at VND 89,300 billion, an increase of 5.97% compared to the end of 2022. Currently, credit institutions in the area are applying short-term VND lending interest rates ranging from 4.5 - 10.5%/year, medium and long-term lending interest rates ranging from 10.2 - 13.5%/year. Short-term USD lending interest rates are commonly from 2 - 4.5%/year; medium and long-term lending interest rates are commonly from 5.5 - 6.5%/year.

Thu Phuong

Source: https://baohatinh.vn/thuong-mai-dich-vu/lai-suat-tien-gui-cao-nhat-o-ha-tinh-la-bao-nhieu/249235.htm