Several commercial banks have adjusted lending and deposit interest rates following the central bank interest rates cuts.

Joint Stock Commercial Bank for Foreign Trade of Viet Nam, or Vietcombank, has announced it will apply a preferential rate of 8.5% to customers with good credit histories and 10% for new clients.

Bank for Investment and Development of Viet Nam, or BIDV, has also adjusted its rates for loans with effect from today. While normal borrowers will be charged 10.5%, exporters who commit to sell foreign currencies back to

BIDV can enjoy an interest rate of 8%.

Meanwhile, Asia Commercial Bank (ACB) has said it would pay lower interest on dong deposits. The bank’s rates for deposits have been reduced to 7.3-7.5%.

VP Bank has also cut its interest rates for all term deposits to 7% or less.

Foreign commercial banks have so far made no adjustments to deposit rates after the central bank cut the benchmark rate.

Hongkong Shanghai Banking Corporation, for instance, has retained its rates of 2.04-3.65% for deposits of different terms. (TN)