ACB offers deposit interest rate at 14pct/yr for 1-week term

Asia Commercial Joint Stock Bank (ACB) has recently announced its new deposit interest rate benchmark that has been officially applied since September 14.
Accordingly, for savings in dong with terms of 1-, 2- and 3-weeks, the deposit interest rate will hit the ceiling of 14% per year.

For non-term savings in dong, ACB will offer the highest deposit interest rate of 4.8% per year and the highest non-term payment interest rate will be 4.2% per year.

For savings with floating interest rate, ACB is applying the interest rate of 14% per year for all terms of from 1-week to 12-months. Some other banks such as Bank for Investment and Development of Vietnam (Bidv) and Hochiminh City Housing Development Commercial Joint Stock Bank (HDBank) are also offering the deposit interest rate cap at 14% per year for all terms.

Recently, Western Commercial Joint Stock Bank (WesternBank) also announced to apply the deposit interest rate of 14% per year for terms of 1-, 2-, 3-, 4-, 5- and 6-days with all individual and institutional customers.

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam interest rates

Posted by VBN on Sep 20 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry