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Commercial banks cut down deposit rates

Commercial banks continued to cut deposit rates on September 19 after the State bank revised down benchmark rates.
Commercial banks cut down deposit rates ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – Commercial banks continued to cutdeposit rates on September 19 after the State bank revised down benchmarkrates.

Accordingly, annual rate for deposits from one to six monthsstands at 4.75 percent while those for medium- and long-term ones are alsolowered.

Specifically, Vietcombank and VietinBank offer a 4.3 percentyield per year for one-month and two-month deposits, 4.7 percent for the three-monthterm and 4.75 percent for the 3-6 month term.

Techcombank and VIB apply a rate of 4.3-4.75 percent for the1-6 month term, and 0.5 percent for those below one month and non-term ones.

For deposits above six months, the rate remains high at over7 percent.

Lending rates will be also brought down to facilitatebusinesses’ access to low-cost credit./.

VNA
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