Interest Rates Remain Stable in Vietnam: SBV
Local credit institutions had already kept their deposit interest rates less than the ceiling levels in the week ending April 18, according to the State Bank of Vietnam (SBV), the country's central bank.
Savings interest rates popularly stood at 10.38 per cent for three-month term VND deposits, 10.5 per cent for six-month, 10.62 per cent for nine-month, and 10.78 per cent for one-year term, the SBV said in its latest notice.
Regarding lending interest rates, the state-owned commercial banks offered the lowest rates in the last time, 14.6 per cent per annum for short-term and 16.2 per cent for medium- and long-term loans.
Meanwhile, joint stock commercial banks are asking for 18.42 per cent for short-term and 21.85 per cent for medium- and long-term loans.
The Vietnam Banking Association (VNBA) is calling on its members to not provide deposit interest rates higher than the 11 per cent ceiling interest rate upon agreement among them before in order to secure safety and reduce risk of local banking system operation. (VNA)
Vietnamese
