Lending rates at Vietnamese banks have dropped to their lowest level since the beginning of this year, while deposit rates have been increased, HCM City Securities Corporation claim in a recent survey.

Lending rates lowest since year-start 

According to the report on interest rate changes among Vietnam’s 11 largest banks since the beginning of 2015, lending rates have decreased by an average 0.28% to 9.3%. It is rare to see lending rates fall despite the rise in deposit rates.

The report indicated that deposit rates have increased by 0.03% to 5.86% from 5.83% two months ago. VietinBank, ACB and Eximbank have raised short-term deposit  rates by 0.1-0.3%. Meanwhile, some smaller banks have also increased their short-term deposit rates by 0.1-0.2% and medium and long-term rates by 0.1-0.7%.

Despite higher deposit interest rates, lending rates have fallen to the lowest level since the early year. VietinBank have cut lending rates to between 0.5-1.5% for all terms. Vietcombank and Techcombank have also reduced the rates by 0.5%. Techcombank and others, including Eximbank and Sacombank, have also followed the suit.