The State Bank said that since the beginning of the year, deposit interest rates at commercial banks have been relatively stable, with some banks continuing to adjust them down to support liquidity and stimulate loan demand.
In July, some banks such as Bac A Bank reduced the rate by 0.1 percentage points for all terms and deposit types. VIB reduced the rate by 0.1%/year for 36-month term deposits at the counter, with amounts from 1 to under 5 billion VND. Bao Viet Bank also reduced the rate by 0.15-0.2%/year for terms of 6-13 months.
Previously, banks such as Loc Phat reduced 0.2%/year for 18-60 month terms when depositing online, or Quoc Dan Bank adjusted a reduction of 0.1% depending on the deposit term.
On the lending side, interest rates continued to decline. As of now, the average lending rate for new loans is 6.23%/year, down 0.7 percentage points compared to the end of 2024.
At the Government-locality online conference, State Bank Governor Nguyen Thi Hong said that the operating interest rate will continue to be maintained at a low level to guide the market to reduce lending interest rates, supporting businesses and people. At the same time, the State Bank directed credit institutions to reduce costs, promote technology application, and digital transformation to reduce lending interest rates; operate exchange rates flexibly and appropriately, contributing to stabilizing the foreign exchange market, fully meeting the legitimate foreign currency needs of the economy .
In the coming time, the State Bank will continue to closely monitor the domestic and foreign economic situation to proactively, flexibly and effectively operate monetary policy; control interest rates and exchange rates in accordance with market developments, the macro economy and the target of stabilizing inflation.
Source: https://nld.com.vn/ngan-hang-nha-nuoc-noi-ve-xu-huong-lai-suat-1962507230753435.htm
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