Many commercial banks have  cut deposit interest rates by 0.1 to 0.5 to help achieve the Government’s 8% growth target in 2025.

A survey carried out on February 26 showed that 7 out of 30 banks have reduced interest rates, three banks increased, while the rest kept the rates unchanged.

ACB and KienlongBank reduced the interest rate by 0.1 to 0.4 percentage points for different terms.

BVBank has lowered rates by 0.1 to 0.3 percentage points.

The Maritime Bank of Vietnam (MSB) and Eximbank have both reduced rates by 0.2 percentage points for specific terms.

Regarding online deposits, ACB, BVBank, KienlongBank, Eximbank and SHB have lowered the rates by 0.1-0.5 percentage points.

Although these reductions are modest, they contrast with the recent upward trend in rates.

Prime Minister Pham Minh Chinh on February 24 signed a Dispatch, requiring the State Bank of Vietnam to enhance measures to reduce interest rates.