From September 30, Saigon Commercial Joint Stock Bank (SCB) continued reducing the deposit rates especially dong deposits.
In particular, the bank's new deposit rate benchmark will be adjusted down to 15.6% per year, 16.1% and 16.6% pa as for 1, 2 and 3 week term deposits instead of the previous 16.5%, 16.6% and 16.7%, terms of one and two months at 17.9% and 18% against 18% and 18.2% earlier, three, four and five-month terms at 18.1% from 18.35% per year, six-month term at 18.2% against 18.4%, terms of 7, 8 and 9 months at 17.8%, 17.7% and 17.65% pa against 18% per year earlier, 10, 11, 12 and 13-month terms at 17% pa from 17.4% pa, 15, 18, 24, 36, 48 and 60 month terms at 14% pa against 14.5% and the deposit rate of six-month term treasury bills was also lowered to 18.3% per annum.
As for the policy of increasing the saving rates for customers aged from 50, the saving card in dong with terms of from 12 months and longer before May 19 will be maintained at 17.4% per year until December 31 although the bank's dong deposit rate as for 12-month term is now at 17% per year.
As for human saving product, the interest rate of 12, 13 and 15 month terms will be at 17% pa and the remaining terms will carry the respective term interest rate in the basic interest rate benchmark.
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