Interest rates fall to 6.0 9.0pct per annum for short-term loans

01-Aug-2020 Intellasia | Thoi bao Ngan hang | 6:02 AM Print This Post

According to information from the State Bank of Vietnam (SBV), weekly banking activities from July 20-24, 2020, the VND mobilising interest rates are popular at 0.1-0.2 percent per annum for demand deposits and with a term of less than one month; 3.7 4.25 percent per year for terms from one to less than six months; 4,4 6.4 percent per year for 6 to less than 12 months; 6.0 7.3 percent per year for 12 months or more. USD deposit interest rate of credit institutions is 0 percent per year for deposits of individuals and organisations.

Lending interest rate in dong is currently popular at 6.0-9.0 percent per year for short term; 9.0-11 percent per year for the medium and long term. The maximum short-term loan interest rate in dong for some sectors is 5.0%. USD lending interest rate is at 3.0-6.0 percent per year; in which, short-term lending interest rate is 3.0-4.5 percent while medium and long-term rate is from 4.2 to 6.0%.

Regarding interbank market activities, according to the reports of credit institutions and foreign bank branches through statistical reporting system, the trading turnover in the interbank market in the period in VND reached approximately 368.33 trillion dong, an average of 73.666 trillion dong per day, an increase of 7.714 trillion dong per day compared to week of July 13-17, 2020. The turnover of transactions in USD converted into VND in the week reached about 127.662 trillion dong, an average of 25.532 trillion dong per day, down 1.404 trillion dong per day compared to the previous week.

By terms, VND transactions mainly focused on overnight (72 percent of total trading volume) and one week (13 percent of total trading volume). For USD transactions, the terms with the highest sales were overnight and one week terms with 83 percent and 7 percent respectively.

Compared to the previous week, the average interbank interest rate for VND transactions fluctuated slightly compared to the previous week interest rates. Specifically, the average interest rates of overnight, one week and one month terms were respectively 0.14%, 0.23 percent and 0.55 percent per year.

For USD transactions: Interbank average interest rate in the week tended to decrease compared to previous week interest rates at different terms. Specifically: the average interest rate of overnight, one week and one month terms are 0.1%, 0.14 percent and 0.24 percent per year, respectively.

 


Category: Finance, Vietnam

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