Vietcombank, Agribank slash deposit rates

Vietcombank and Agribank have further slashed their deposit interest rate for one-month terms to 5 per cent per year, while the common interest rate continues to range between 6.5-7 per cent at other banks.

Two-month and nine-month terms on deposit interest rates offered by Vietcombank ranged between 6.5 to 7 per cent per year, the ceiling for less than six-month terms is still at 7 per cent per year.

Agribank's one-month term deposit interest rate was also reduced to 5 per cent per year yesterday, and the highest interest rate on one-year term deposits was kept at 8 per cent.

The interest rate at other banks such as Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), the Bank for Investment and Development of Vietnam (BIDV) and other joint stock banks remained unchanged yesterday.

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