The State Bank requested bank inspectors to increase interest rates

The management agency has just requested the Regional Director of the State Bank to meet with commercial bank branches in the area to thoroughly grasp the implementation of the policy of reducing interest rates as directed by the Governor in early April.

This is the second time within a month that the State Bank has asked banks not to race interest rates to keep loan interest rates low and support the economy.

In addition, the management agency also requested to inspect and inspect the reduction of interest rates at commercial bank branches in the area. If violations are detected, units must handle and report to the State Bank in cases of exceeding their authority.

According to the management agency, there is still a phenomenon of some commercial banks adjusting to increase deposit interest rates in recent times.

Survey of VnExpress By mid-May, the number of banks running interest-plus programs decreased significantly compared to the previous month, and the incentive level was also about 0.5% lower.

Some banks are still offering 8-9% incentives for customers who deposit savings for a term of 6 months or more with the condition that the amount is from a few dozen or a few hundred million dong. In the past week or so, some units have slightly increased the agreed interest rate by 0.1-0.2%.

Meanwhile, public savings interest rate schedules at banks are continuously adjusted, recording mixed increases and decreases. By mid-May, the highest listed interest rate in the system (for deposits of 1 billion VND or less) was nearly 8% per year.