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Bank deposit interest rates plummet to 7%

August 18, 2023 by e.vnexpress.net

Most cuts have been for deposit terms of six months or more. Maritime Commercial Bank (MSB) made the biggest cut, of a full percentage point for deposits of six months and longer, to bring its rate down to 6%. Techcombank reduced its rates by 0.7 percentage points, while PGBank, GPBank, VietBank and ABBank brought down their rates by 0.7-0.8 percentage points. Most banks now offer interest of around 7%, down 3-4 percentage points since the end of last year. The State Bank of Vietnam recently ordered banks to reduce loan interest rates by up to 2 percentage points to foster economic recovery. … [Read more...] about Bank deposit interest rates plummet to 7%

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