Nearly 20 commercial banks lower deposit rates

FILE PHOTO: A Vietnamese flag flies atop the State Bank building in central Hanoi

HANOI: Nearly 20 commercial banks have adjusted deposit rates since the beginning of this month, with most lowering rates.

One of the Big Four, the Bank for Investment and Development of Vietnam (BIDV), earlier last week reduced online deposit rates by 0.2 percentage points for terms of one to 11 months and 24-36 months, and by 0.1 percentage points for 12-18 month terms.