PVcomBank cuts deposit interest rates

Monday, Nov 07, 2016 14:41

PVcomBank cuts deposit interest rates. — VNS Photo

HA NOI (Biz Hub) — PVcomBank last week announced it was lowering deposit interest rates in an effort to be able to cut lending rates early to support production and business.

Accordingly, the bank's rate for three to five month deposits has been cut from 5.5 per cent to 5.3 per cent per year.

The rate for 13 month deposits has also been reduced from 7.5 per cent to 7.2 per cent per year.

The bank's highest rate of 7.6 per cent per year, applicable for 18, 24 and 36 month deposits, has also been cut to 7.5 per cent. 

Besides aiming to restructure capital sources, PVcomBank expected that the cut would help it cut lending rates soon to support production and business according to guidance from the Government and the State Bank of Viet Nam. — VNS

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