>> Negotiable interest rates on deposits latest draw from banks
>> Lending interest rates up, troubling enterprises
>> Banks rush to compete as interest rates reach 12%
Rising interest rates across the board were offered on the interbank market in Vietnam going up by an average of 1.15% to 3.56% in the week ending November 12.
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| Interest rates increasing following raised base interest rate |
The strongest rally of all was recorded by overnight interest rates to 12.19%, up 3.56% against the previous week ending on November 5.
Non-term interest rates slightly fell by 0.23% compared to the previous week, while those for terms from three months and lower hovered at between 12% and 13% per year. No 6-month and few 12-month term transactions were recorded during the week.
VND deposit interest rates edged up 1% per year compared to the week ending on November 5, pushing lending interest rates up by 1%-1.2%.
Currently, lending interest rates for agriculture, exports and small and medium-sized enterprises are averaging between 12% and 12.75% per year and the rate of 13%-16% per year are applied to other business entities.
Meanwhile, USD deposit and lending interest rates stayed flat during the week.
The average interest rates for USD loans rose for most terms, in which overnight and one-week interest rates inched up.
Those for two-week to 6-month climbed between 0.13% to 0.73%.
However, interest rates for 12-month terms edged down 0.17%. No non-term and few above 3-month term transactions were recorded.
