PVCombank now offers 6.2% on 12-month loans under VND1 billion (US$41,200), while VietABank offers 6%.

Stacks of money at a bank.

The rates at HDBank are 5.9%, SeABank is 5.8%, and BacABank offers 5.7%. VietinBank and BIDV both offer 5.3%, and Vietcombank 5.1%.

Deposit interest rates have been falling since April as banks struggled to find borrowers amid economic challenges. Relaxed monetary policies helped banks have high cash resources.

Deposit rates are now half of the 11-12% rate offered at the end of last year.

The average deposit interest rate range in 2017-2018 period was around 8.86-8.91% a year.

In lending, banks now ask for a 7-10% fixed rate and 11-14% floating rate.

Central bank to accelerate disbursement of social housing loan package: governor

The State Bank of Vietnam will step up the information work to further popularize the social housing loan package among the public given its sluggish disbursement, Governor Nguyen Thi Hong said Monday.

State Bank of Vietnam issues $410M worth of treasury bills

The State Bank of Vietnam on October 3 offered 28-day treasury bills (T-bills) worth VND10 trillion ($409.9 million) through the interest rate auction mechanism.

Capital mobilization of commercial banks up 14.5 trillion VND

BAC GIANG - According to the Bac Giang provincial branch of State Bank, to date, the total mobilized capital of commercial banks has reached nearly 100 trillion VND (4.2 billion USD) up about 14.5 trillion VND compared to last year.

HCMC to build second blood bank

Ho Chi Minh City will spend VND700 billion (US$28.6 million) building a new blood bank as the city's first and only one has become overloaded.

Banks lower deposit interest rates to below 6%

Four state-owned banks and a dozen private lenders have dropped their deposit interest rates to below 6%from as high as7.5-8% earlier this year.

Source: VnExpress