“Big Four” banks lower deposit interest rates to COVID-19 levels

The four biggest banks in Vietnam have cut their interest rates on many deposit terms to match the lowest level recorded during the COVID-19 pandemic.

Two more State-run commercial banks - Vietinbank and BIDV - lowered their deposit rates on September 19 to match the lowest level during the COVID-19 pandemic.

Both cut their rates by 0.2 or 0.3 percentage point on deposits with a term of three months or longer.

The rate for deposits with a 12-month term was also lowered by 0.3 percentage point to 5.5% per annum. For one-month and two-month deposits, the rate remains at 3%.

These rates are similar to those of Vietcombank and Agribank, which were revised downwards on September 14./.

VNA