Developments of interest rates applied by credit institutions
November 2023
1. Mobilization interest rates:
- The interest rates in VND: the mobilization interest rates in VND were at 0.2% p.a. for demand and below 1-month terms; 3.3%-3.8% p.a. for 1-month to below 6-month terms; 6.3% – 7.1% p.a. for 6-month to below 12-month terms; 7.3% – 8.3% p.a. for 12-month to 24-month terms; and 7.5% – 7.9% p.a. for 24-month plus terms.
- The interest rates in USD: the mobilization interest rate in USD was 0% p.a. for both individuals’ and institutions’ deposits.
2. Lending interest rates:
- The lending interest rates in VND: the average lending interest rates were between 8.3% – 10.5% p.a. for new loans and existing loan outstandings. The average lending interest rate for short-term loans was 3.8% p.a. for the priority sectors and areas.
- The lending interest rates in USD: the average lending interest rates for new loans and existing loan outstandings were between 4.3% – 5.3% p.a. for short-term loans, 6.2% - 7.4% p.a. for medium and long term loans.
Translated by Le Hang.