According to the State Bank – Khanh Hoa Branch, deposit interest rate in January, 2014 was around 1.2%/year for under-one-month term; 6,5 – 7,5%/year for 1 – 12 month terms; 8 – 9,5%/year for over-12-month terms...
According to the State Bank – Khanh Hoa Branch, deposit interest rate in January, 2014 was around 1.2%/year for under-one-month term; 6,5 – 7,5%/year for 1 – 12 month terms; 8 – 9,5%/year for over-12-month terms. The rates have seen a slight decrease over January. Some banks have lowered deposit interest rates to under 6%/year for under-one-month term; to 7%/year for 1 – 12 month terms; to 8%/year for over 12 month terms.
Vietinbank – Khanh Hoa Branch has cut deposit interest rates by 0.2% - 0.4%/year. Some other banks like BIDV and Eximbank have also slashed their rates.
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The decrease in deposit interest rates is a base for the reduction of lending rates. According to the State Bank, in the favorable market condition, credit institutions may lower lending rates by 1 – 2%/year to the support the economy.
Many banks also have launched some lending packages with preferential interest rates. For instance, Eximbank is offering a lending program with interest rate of 7%/year, exchange risk insurance of 1.5%, production and business program with interest rate of 6.5%/year, lending for individuals with interest rate of 9%/year and some others.
Vietinbank – Khanh Hoa Branch has some packages, including maximum interest rate of 6.4%/year for under-one-month term, 3.3% - 4.3%/year for export import enterprises, 6.5% - 8.5%/year for potential customers. BIDV – Khanh Hoa Branch is applying 3.2%/year for USD and 8%/year for VND, from 9.5%/year for individuals and households’s business and from 10.5%/year for consumption loans. The bank also has preferential packages for businesses, including all-in export support, policy for fishery deals and so on.
T.T
