Commercial banks rise saving interest rates

VPBank on June 12 officially announced new interest rates for deposits in both Vietnam dong and US dollar with increases in the interest rates for all terms.

The increases vary from 0.9% to 2% a year for deposits in Vietnam dong and 0.2% to 0.5% a year for deposits in US dollar.

With these latest adjustments, the highest interest rate in VPBank for ordinary deposits in Vietnam dong is set at 17.5% a year and in US dollar is 7% a year.

Earlier, Techcombank had also announced its highest interest rate to 17.8% a year.

Other commercial banks have also increased their interest rates right after the State Bank of Vietnam decided to increase the prime rate for Vietnam dong from 12% to 14%.

Currently, SeaBank is the credit organisation that is offering the highest interest rate of 19.2%.

ND

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