A branch of BIDV. Leading banks including four State-owned commercial banks, also introduced a loan package for production and business, supporting small and medium enterprises. — Photo BIDV

HÀ NỘI — The State Bank of Việt Nam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30 per cent.

Leading banks including four State-owned commercial banks, also introduced a loan package for production and business, supporting small and medium enterprises with preferential interest rates to boost credit growth at the end of the year.

The lending interest rate ranges from 4.8-6.5 per cent per year for loans less than six months and 5.5-7.5 per cent per year for loans from six to 12 months.

However, home and car loan interest rates of most commercial banks decreased only 10-20 basis points compared to the end of the third quarter, at 7-9.5 per cent per year for the fixed interest rate period, then will be adjusted according to the deposit interest rate or the bank's internal capital transfer interest rate at around 10.5-11.5 per cent per year.

The interbank interest rate was flat at 0.19 per cent per year for the overnight deposit tenor and 0.24 per cent per year for the one-week deposit tenor.

Deposit interest rate is also stable at 2.5-3.8 per cent per year for tenors of less than six months, 3.7-5 per cent per year for six to less than 12 months, 4.9-5.8 per cent per year for 12-13 months.

Credit growth was more positive in the last quarter of the year, but commercial banks' liquidity is still abundant, interbank interest rates and deposit interest rates will move sideways in the next few months.

Market fluctuations revolved around conflicting information about the new US economic stimulus package last week. Overall, the optimistic sentiment remained due to the positive developments in the COVID-19 vaccine.

The USD/VNĐ exchange rate listed by commercial banks remained at VNĐ23,010/23,220.

The exchange rate on the free market increased by 30 đồng per US dollar buying in and 40 đồng per US dollar selling out to VNĐ23,200/23,240.

The international movement and the domestic foreign currency supply and demand are quite favourable, so the USD/ VNĐ exchange rate will keep a sideways trend.

In addition, the public hearing of the US trade representative on Vietnamese currency valuation on December 29 may create a slight upward pressure on the Vietnamese đồng. — VNS