Tag: rates

Savers get less as banks slash rates

VietNamNet Bridge – Many domestic banks have lowered the yearly interest paid on deposits by as much as 1.5-2 percentage points to an average of about 8 per cent. “We often advice depositors to select flexible services because interest rates seem to change so frequently,” said an ACB staffer at the bank’s Phan Chu Trinh Street, Ha Noi,... Read more

China cuts rates 0.27 point, 5th reduction in 3 months

China’s central bank cut loan and deposit rates by 0.27 percentage points Monday, effective Tuesday, in the government’s latest move to stimulate the economy. Photo taken on Nov. 27, 2008 shows the People’s Bank of China (PBOC) in Beijing, capital of China. (Xinhua/Gao Xueyu) It was the fifth time the People’s Bank of China (PBOC), the... Read more

Banks begin cutting interest rates again

Commercial banks Sunday began cutting interest rates in response to the central bank’s Friday announcement of a 1.5 percentage point reduction in the official interest rate. Vietcombank, Vietnam’s third largest lender by assets, announced Sunday its new lending interest rate, effective from today, will... Read more

Hotel room rates in Vietnam remain high

VietNamNet Bridge – The average hotel room rate in Vietnam remains 10% to 15% higher than the rates in some regional countries despite efforts to reduce prices to lure travelers recently, the national tourism authority says in a report. Some tour operators told the Daily that just hotels in big cities like Hanoi and HCMC have reduced their rates, while... Read more

Clients delay loaning plan as interest rates go down

VietNamNet Bridge – Commercial banks are considering slashing lending interest rates, while clients are delaying their borrowing plans in hopes of further interest rate decreases. Commercial banks are considering slashing lending interest rates, while clients are delaying their borrowing plans in hopes of further interest rate decreases.Just days ago, Ha... Read more

Banks cutting interest rates following FED cut

VietNamNet Bridge – Two days after the US FED released their decision to cut the interest rate to 0-0.25%, Vietnamese banks, on December 18, announced cutting their interest rates on US$ deposits. A series of banks announced interest rate cuts on December 12. VIB Bank has slashed the 1-month term deposit interest rate to 4.1% per annum, 3-month to 4.5%,... Read more

Deposit interest rates unattractive

VietNamNet Bridge – Depositing money at banks is not the first choice of people who have idle capital now as deposit interest rates have continued to drop. After the State Bank of Vietnam continuously slashed the basic interest rate several times just within a short period in a move to loosen the monetary policies, commercial banks have rushed to cut their... Read more

Hotel room rates in Vietnam remain

VietNamNet Bridge – The average hotel room rate in Vietnam remains 10% to 15% higher than the rates in some regional countries despite efforts to reduce prices to lure travelers recently, the national tourism authority says in a report. Some tour operators told the Daily that just hotels in big cities like Hanoi and HCMC have reduced their rates, while... Read more

Bank interest rates going down, bonds becoming more attractive

VietNamNet Bridge – It seems that investors prefer injecting money in bonds to stocks thanks to the higher attractiveness of bonds at this moment and their greater safety with bank interest rates expected to further decrease. The Hanoi Securities Trading CentreAs the stock market has become more risky, investors have begun eyeing the bond market. On December... Read more

Lending rates dropped after benchmark interest rate cut

A Ho Chi Minh City branch of Vietcombank, where the lowest loan interest rates are being offered at the moment Banks race to reduce rates to stimulate demand for loans, which has softened as global demand slumps. Local banks have lowered interest rates to boost lending, following the central bank’s rate cut... Read more

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