Developments of interest rates applied by credit institutions
October 2021
1. Mobilization interest rates
- The interest rates in VND: the mobilization interest rates in VND ranged between 0.1–0.2% p.a. for demand and below 1-month terms; 3.3–3.5% p.a. for 1-month to below 6-month terms; 4.2–5.7% p.a. for 6-month to below 12-month terms; 5.5–6.6% p.a. for 12- month to 24-month terms; and 6.1–6.8% 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 7.6–9.3% p.a. for new loans and existing loan outstandings. The average lending interest rate for short-term loans was 4.3% p.a. for the priority sectors, lower than the interest rate cap for short-term loans as set by the SBV (4.5% p.a.).
- The lending interest rates in USD: The average lending interest rates ranged between 3.0–6.0% p.a.
Translated by Le Hang