According to the reporter, earlier this week, March 17, ABBank followed other banks in adjusting interest rates down. Accordingly, ABBank announced a 0.1%/year reduction in interest rates for most terms except for the 1-month term, which is currently maintained at 3%/year. Specifically, the 3-month term interest rate decreased from 3.9%/year to 3.8%/year. The 6-month term interest rate decreased from 5.3%/year to 5.2%/year. The 12-month term was 5.5%/year, down from 5.6%/year. The 18-month term was 5.3%/year, down from 5.4%/year. The 24-36-month term had an interest rate of 5.2%/year from 5.3%/year.

Thus, since the February 25 meeting between the State Bank of Vietnam and commercial banks on interest rates, 21 domestic commercial banks have reduced their deposit interest rates by 0.1-0.9% per year depending on the term. Since then, no bank has increased its deposit interest rates.

Banks actively adjust interest rates in a downward direction

In addition to changing the normal terms, some banks have changed their special interest rates. Specifically, Vikki Digital Bank has also changed the conditions to enjoy special interest rates, raising the minimum deposit from VND 200 billion to VND 999 billion to enjoy an interest rate of 7.5%/year with a term of 13 months.

MSB has also changed its interest rate policy related to special deposit terms. After reducing the interest rate by 0.2%/year for terms from 1 to 5 months and from 12 to 36 months at the end of February, the bank suddenly stopped posting interest rates for special customer groups. Accordingly, the highest interest rate of up to 8%/year for terms of 13 months and 7%/year for terms of 12 months for savings accounts with a minimum balance of VND500 billion is no longer updated in MSB's interest rate policy.

Source: https://thoibaonganhang.vn/them-ngan-hang-dieu-chinh-giam-lai-suat-huy-dong-161460.html