Besides the lending interest rates, the banks have also disclosed the interest rate gap of deposits and loans, and the lending interest rates for preferential credit packages.
Surveys in banks such as VietinBank, Vietcombank, TPBank, Sacombank and MSB show preferential loan packages currently have interest rates from 0.5 to 2 per cent lower per year depending on customer groups.
The State Bank of Viet Nam has cut policy rates four times to reduce the commercial banks'' lending interest rates for home buyers as well as businesses.
The remaining months of 2023 are forecast to continue to face many challenges with monetary policy management, as both the world and domestic economies are still experiencing complicated developments.
Reducing interest rates, maintaining interest subsidies, hiking credit limits, and providing unsecured loans to manufacturing businesses are among the demands made by businesses in the South-eastern region to the State Bank of Vietnam.
In 2021, corporate bond yields were at their lowest level in history at just 7.86 per cent a year. The interest rate may have d a bottom and will support corporate bond yields inching up in 2022.
The HCM City Real Estate Association (HoREA) has called on the Government to resolve problems related to legal and administrative procedures and access to funding and cut lending interest rates to revive the property market.
Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) will reduce lending interest rates by up to 1.5 per cent per year for customers affected by the coronavirus epidemic, the bank said in a press release on Thursday.
The competition to gain a larger share in the consumer finance market is heating up as rising capital demand before Lunar New Year is an opportunity for both banks and finance companies to boost the business segment.
Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Viet Nam (SBV)’s agencies this week.