Vietnam's central bank cuts ceiling on deposit rates

1-month and 6-month term interest rate ceilings were eased to 0.8% and 5%, respectively.

The State Bank of Vietnam (SBV) lowered ceilings on interest rates that banks offer for 1-month and 6-month term deposits on the back of “macro-economic situations” as directed by the government, the central bank announced.

The maximum interest rate for demand below 1-month terms has been reduced to 0.8% from 1% previously, whilst ceiling interest rate for 6-month term deposits was eased to 5.5% from 6%.

The maximum short-term lending rate for the areas of agriculture and rural development, exports, support industries, SMEs and hi-tech enterprises was also to 7% from 7.5% previously.

The adjustments were made despite the central bank saying that the “macro-economy” was “stable” as of Q3. Economic growth reached 7.31% in Q3, whilst the average inflation in the first ten months of 2019 increased by 2.48%, SBV noted in its announcement.

The adjusted ceiling took effect on 19 November.

Also Read

AusPayNet welcomes Aussie gov’t retirement of cheques by 2029

Japan Post Bank posts $1.44b net income for H1 FY2025/3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit