Some banks raise rates on dong deposits

17:23 | 26/10/2015 Finance - Banking

Some commercial banks have increased interest rates on dong deposits between 0.2 per cent and 0.4 per cent per year, making it the fourth rise since August this year.

Some banks raise rates on dong deposits

Dong A Bank also announced a raise in the dong deposit rate by 0.4 per cent, mainly in 1 and 2 month terms from 4.6 per cent to 5 per cent — Photo cafef.vn

Viet Capital Bank on Wednesday announced a 0.2 percent rise in the rate for numerous term deposits, lifting 7 and 8 month deposits to 6.5 and 6.6 percent per year, respectively. The rates for 11 and 12 month deposits have also been adjusted up to 6.8 percent and 7.4 percent, respectively.

Previously, Lien Viet Post Bank also inched up the rate for 13 month deposits by 0.2 percent, to 7.5 percent.

Dong A Bank also announced a raise in the dong deposit rate by 0.4 percent, mainly in 1 and 2 month terms from 4.6 percent to 5 percent.

Some other commercial banks such as Sacombank and Eximbank also listed the rate for 13 month deposits between 7.5 percent and 7.55 percent per year.

With the fourth rise, the dong deposit interest rate offered by commercial banks has increased by nearly 1 percent since August this year.

Commercial banks expected that the rise would help them attract more deposits, especially medium- and long-term deposits, to balance their capital source and meet medium- and long-term lending demands.

The central bank's statistics also showed that capital mobilisation of the entire banking system by the end of September also increased roughly by 9 per cent year-on-year./.

Source: VNS

 

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