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VND deposit interest rate hits new peak at 20% per annum
Kien Long Bank this morning announced the new VND deposit interest rate of 20% per annum in order to retain loyal clients and attract more new depositors.
The 20% interest rate is applied for the VND 12-month term deposits. Representative from Kien Long Bank said that many of the clients have made 12 month term deposits in the last time, therefore, the bank has decided to raise the interest rate for this kind of deposit.
Kien Long is now offering the interest rates of 18.3% for 1-month, 18.45 for 2-month, 18.5% for 3-9-month term deposits
VIB Bank has raised the deposit interest rate to 18.3% at the highest for 12-month term deposit. The rates have also been raised for shorter term deposits to 16% per annum for one-week, 16.5% for 2-week, 17% for 3-week term deposits.
Commercial banks continue raising VND deposit interest rates, though they have been warned that the overly high capital mobilization cost will make them suffer. They have no raise the deposit interest rates in order to attract more capital to their banks.
Ocean Bank on June 26 also announced a new interest rate policy with the highest rate at 19% per annum. The bank stressed that it does not require clients to deposit big sums of money, or ask them not to draw out money before the deposits are due
On the same day, VIB Bank decided to raise its deposit interest rates to 18.3% at the highest, applied for 12-month term deposit. Especially, the bank’s short term deposits also saw considerable increases in interest rates. VIB Bank is offering 17% per annum for 3-week deposits.
Some days ago, Sacombank, the biggest joint stock bank now in Vietnam, also raised the interest rates for both VND and gold deposits. The interest rates for VND 1-9 month deposits are now between 17.34%-17.64%, while the rates for 10-13 month deposits are between 17.16% and 18% per annum. Those clients, who deposit VND50mil and more will get additional interest rate of 0.48%, which means they can enjoy the interest rate of 18.48% per annum at maximum.
VNN
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