SCB offers new saving interest rate benchmark

Saigon Commercial Joint Stock Bank is offering new interest rate benchmark in both dong and US dollar whereby the non-term deposit interest rate in dong will be 4.2 percent per annum.

The interest rate for 1-5 month terms will be 14 percent per year, 6-7 months at 13.55 percent, 8-13 months at 13.5 percent and from 15-months and longer at 13 percent per year.

For the dollar, the demand saving interest rate will be 0.5 percent per annum, 1, 2, 3 weeks at 1 percent p.a., 1.5 percent p.a. and 1.8 percent p.a. respectively, 1-5 months at 2 percent p.a., 6-7 months at 1.88 percent p.a., 8-13 months at 1.87 percent p.a. and from 15-months and longer at 1.86 percent p.a.

At the same time, the bank also adjusted the interest rate of its current saving programmes.