Tinnghiabank's gold deposit interest rates now over 3%

TinNghiaBank increased its interest ratesfor gold certificates to 3.1%, and up 0.4% from the bank’s previous level.

The rate is the the highest in the banking system.

Customers who deposited at least 0.1 tael of SJC gold were entitled to receive an interest rate 3.1% p.a. on their gold deposits for 3, 4, 6 and 9 – month terms, up 0.4-0.6%, while the interest rates were 3.05%, up 1.05%, and 3.06% p.a., up 1.02%, for 1 and 2 – month terms, respectively.

The State Bank of Vietnam recently issued Official Dispatch No.8492, requesting all credit institutions to take measures to gradually reduce gold deposits, ensuring that the issuance of short term gold certificates by credit institutions would be terminated by May 1, 2012.

The central bank’s move came out after many lenders outside G5+1 simultaneously offered to purchase gold at attractive prices from gold, VND or USD depositors, dodging the deposit rate caps to attract funds.

Also Read

Citi, Fidelity demonstrate real-time settlement of MMF and digital FX

Citi launches Citi Digital Bill to speed up monetization of receivables

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