(ĐN)- A number of commercial banks last week have begun offering non-term deposit interest rates as high as 9 percent per year on large deposits.
(ĐN)- A number of commercial banks last week have begun offering non-term deposit interest rates as high as 9 percent per year on large deposits.
Particularly, SeaBank offers 12 percent for deposits of VND50 million through its SeASave Smart product. VP Bank and SCB, similarly, now offers 9 per cent interest on larger deposits, compared to a normal rate of just 3-3.6 percent.
The move has been viewed as a workaround to State Bank of Viet Nam Circular No 04/2011/TT-NHNN, which took effect last week, banned commercial banks from paying higher interest on term deposits when the depositor withdraws funds before maturity.
Reported by V.L
