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Banks increase đồng interest rate to lure depositors

Update: December, 23/2016 - 16:00
VP Bank on Wednesday offered higher interest rates to lure depositors. - Photo VNA/VNS Photo
Viet Nam News

HÀ NỘI – A number of commercial banks have increased their Vietnamese đồng deposit interest rates by 0.2-0.4 per cent per year to attract depositors at year-end.

VP Bank, on December 21, announced new rates, raising rates for 1 month deposits by 0.3 per cent per year to 5.2 per cent, and increasing by 0.4 per cent to 6.9 per cent per year for 12 and 13 month deposits.

Previously, Eximbank also increased its short-term deposit rates by 0.1-0.2 per cent per year for 1 month, 3 month and 6 month deposits to 4.6 per cent, 5 per cent and 5.6 per cent per year, respectively.

PVcomBank also offered depositors higher rates of 5.5 per cent for 3 month terms and 6.5 per cent for 6 month terms, up 0.2 per cent and 0.4 per cent, respectively. The bank’s highest rate of 7.7 per cent per year is applied to deposits of 24-60 months.

Besides interest rates, some banks also continuously introduce attractive promotional programmes to attract depositors.

According to a leader of a Hà Nội-based bank, demand for capital is rising prior to Tết (Lunar New Year), so banks have to try to attract deposits to balance their capital sources. - VNS

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