Deposit interest rates continue to decrease in Vietnam

At a recent meeting among the State Bank of Vietnam, commercial banks and property developers, a bank leader said the ceiling deposit rate would be brought down to 8.7% per year in the coming time instead of the current 9.5% per year.

HO CHI MINH CITY: Commercial joint stock banks have continued to lower deposit interest rates since the middle of this month, a move that is expected to help reduce lending rates and support businesses.

From Feb 14, GPBank lowered its saving interest rates by 0.4 percentage points. The six-month term and 12-month term rates now stand at 8.9% and 9.1% per year, down from 9.3% and 9.5% per year, respectively.