SBV: commercial banks’ interest rate adjustment normal
It is normal for commercial banks to adjust their interest rates in accordance with their business strategies and market situation, said the State Bank of Vietnam.
Hanoi (VNA) – It is normal for commercialbanks to adjust their interest rates in accordance with their businessstrategies and market situation, said the State Bank of Vietnam.
While some banks raised deposit interest rates,others reduced theirs by 0.1-0.3 percent per year.
The Vietnam Prosperity Joint StockCommercial Bank (VPBank), Viet Nam Thuong Tin CommercialJoint Stock Bank(VietBank) and Vietnam International Commercial Joint Stock Bank (VIB Bank) decreased their interest rates by 0.1-0.3 percentfor deposits of different terms.
The Viet Capital Bank and the DongA Bank adjusteddown 0.1 percent to 7.8 percent for deposits of between 18 and 60 months. TheMaritime Bank also reduced the mobilising interest rates by 0.2 percent to 7.2percent for deposits of 18-30 months.
In mid-February, some commercial banks raisedtheir deposit interest rates. EximBank offered an interest rate of up to 8.2percent per year for 24 and 36-month deposits while Oceanbank increased itsinterest rates to 7.3 percent per year for deposits of six, 11 and 12 months.
Techcombank applied an interest rate of 7.1 percent per year for 36-monthdeposit, up 0.1 percent compared to the rate in early February.
VPBank listed an attractive rate of 9.2 percentfor certificate of five-year deposit certificate and Sacombank offered 8.88percent for seven-year deposit certificate.-VNA
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illustrative image (Source: VNA) 
