Recently, many commercial banks have lowered their deposit interest rates by 0.1% - 0.5% per annum. The capital mobilization now is stilling growing up despite the decreasing interest rates, banks said.
Recently, many commercial banks have lowered their deposit interest rates by 0.1% - 0.5% per annum. The capital mobilization now is stilling growing up despite the decreasing interest rates, banks said.
Interest rates at large banks made a bigger decrease than at small ones. For instance, at the Bank for Investment and Development (BIDV) – Khanh Hoa Banch, interest rates have been cut by 0.3% - 0.5% per annum. Interest rates at the bank are 4.5% - 6% per annum for under-12-month terms, 6.5% for 12-month term, and 6.8% - 7% for over-12-month terms. The Bank for Industry and Trade (Vietinbank) has just decreased their interest rates slightly. Specifically, the term from 1 month to under 2 months remains the rate of 5% per annum; the term from 2 months to under 3 months sees a slash by 0.5% per annum to 5% per annum; the term from 3 months to under 6 months makes a decrease by 0.25% per annum to 5.5% per annum; the term from 9 months to under 12 months remains 6% per annum; the 12-month term has a fall by 0.2% per annum to 6.8% per annum; the terms of 36 months and 48 months are kept unchanged with 7% per annum and 8% per annum, respectively.
The Commercial Bank for Foreign Trade (Vietcombank) has also reduced its interest rates by 0.1% - 0.5% per annum.
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Accounting for the decrease in interest rates is the abundance of money in the banking system as deposit mobilization has good growth while credit is not high. In addition, the low inflation rate also is a factor for banks to reduce interest rates. The decrease in interest rates can bring about the slash in lending rates.
Despite the lower interest rates, deposits see stable growth. At BIDV Khanh Hoa, deposits from individual customers has risen by 13.5% over that at the beginning of the year.
Representatives of Vietcombank Khanh Hoa, Vietcombank Nha Trang and Vietcombank Cam Ranh also revealed that their deposits keep growing.
According to a banking official, at present, to individual idle money, saving at banks is the safest choice although interest rates are not high.
To raise mobilized deposits, banks have diversified forms, improved related services, done customer service better and some other ways.
T.T
