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Banking News (Week 30, 2021)

Banking News (Week 30, 2021)

Friday 30, 07 2021
Following is the news brief on Vietnam’s banking industry for the 30th week of 2021 compiled by VietnamCredit.

NCB

On July 20, 2021, the National Citizen Commercial Joint Stock Bank (NCB) has implemented contactless payment for NCB Visa international credit cards, including card classes: Classic, Gold, Platinum, and NCB Visa Women Gold. NCB Visa contactless international credit card uses EMV chip card technology capable of storing and encrypting information with high security, is a global standard of secure payment and interaction. The card only works within the specified distance of the payment device, the authentication is dynamic with unique information in each transaction, so copying is almost impossible. Customers can go to any NCB Branch/Transaction Office to open a new card or request to convert to a contactless payment card.

HDBank

HDBank decided to reduce lending interest rates for priority sectors, fields, and areas affected by Covid-19 with an average reduction of up to 1%. Accordingly, from July 15, 2021, HDBank will reduce the average lending interest rate by 1%/year and the highest up to 2%/year for businesses and individuals operating in areas directly affected by the COVID-19 pandemic.

HDBank

HDBank is the first bank to give priority to reducing interest rates for customers in the area of ​​​​blockage and prolonged distancing according to Directive 16. The group of customers that HDBank offers preferential interest rate reduction includes: being restructured due to the Covid-19 epidemic according to Circular 01/2020/TT-NHNN and Circular 03/2021/TT-NHNN; customers in 5 priority areas; customers in the area of ​​blockage, distance according to Directive 16. At the same time, HDBank continues to offer incentives, exemptions, and reductions in service fees. The policy does not apply to customers in the real estate industry, securities industry, or are enjoying the current preferential interest rate lower than 1.5% compared to HDBank's normal lending rate.

OCB

The Orient Commercial Joint Stock Bank (OCB) announced that the last registration date to close the list of shareholders paying dividends in shares is August 3, 2021, the issue rate is 25%. Previously, at the beginning of June 2021, the State Bank of Vietnam approved in writing OCB to increase its charter capital to a maximum of 2,739 billion VND through stock dividends. Accordingly, the bank's charter capital will increase from 10,959 billion VND to 13,698 billion VND.

OCB

VPBank

According to VPBank's over-the-counter deposit interest rate in July 2021, the highest interest rate for term deposits from 1-3 months is 4%/year; term from 6-9 months ranges from 4.5-5.1%/year. For deposits with terms of 12 months or more, the highest interest rate is 5.4%/year, the lowest is 4.8%/year.

VPBank

For deposits made on the online channel, VPBank applies a higher interest rate at the counter from 0.2-0.8%, depending on the term and deposit limit.  Specifically, 1-3 month term deposits range from 3.2-4%/year; deposits from 6-9 months from 4.7-5.3%/year; deposit from 12 months or more is the highest 6.2%/year, the lowest is 5%/year.

For customers in the priority segment, for deposits of VND 100 million or more with a term of 1 month, an additional 0.1% interest rate will be added compared to the current interest rate table. The received interest rate does not exceed 4%/year for a term of fewer than six months.

In case VPBank's daily interest rate is higher than the ceiling interest rate as prescribed by the State Bank, the applied interest rate is the ceiling interest rate of the State Bank. If a customer withdraws a saving deposit before maturity, the withdrawal rate applied will be the lowest of VPBank, depending on the type of currency at the time of withdrawal, unless there are other regulations.

Techcombank

According to the latest savings deposit interest rate at the Vietnam Technological and Commercial Joint Stock Bank(Techcombank), the highest interest rate applied by this bank is 5.5%/year for priority customers, depositors from 3 billion VND, terms from 12 months.

Techcombank

Specifically, for ordinary savings deposits at the counter with terms fewer than six months, the highest interest rate at Techcombank is 3.1%/year. For deposit savings from six to under 12 months at Techcombank, interest rates range from 3.8-4.3%/year. The interest rate for savings over the counter from 12 months at Techcombank is from 4.4%/year, the highest is 5.1%/year for customers who prefer a 36-month term deposit. With Phat Loc savings deposit, the deposit interest rate applied by Techcombank is 0.3-0.5%/year higher than the normal interest rate, depending on the term and customers. Accordingly, the highest interest rate for deposits under six months is 3.4%/year for priority customers. The savings interest rate from 6 to less than 12 months of this product is from 3.8 to 4.8%/year. Phat Loc savings deposit from 12 months or more has the highest interest rate of 5.6%/year for a priority customer group, depositing term of 36 months. Compared with Techcombank's over-the-counter savings deposit interest rate, there are some terms when customers depositing online savings will enjoy a higher interest rate of up to 1%/year.

MSB

The Vietnam Maritime Commercial Joint Stock Bank (MSB) offers a credit package of 20 trillion VND with preferential rates to accompany customers. Accordingly, MSB will continue to reduce the lending interest rate by up to 3% per year compared to the current interest rate of MSB from now until December 31, 2021, to support people and businesses against the impact of the COVID-19 pandemic. Specifically, for individual customers, MSB reduces interest rates by up to 3%/year for customers who borrow capital for business and 1%/year for individual customers who borrow capital to do businesses in the field of agriculture or to buy houses.

Vietcombank

Vietcombank deploys many new features on VCB Digibank. One of the new features allows customers to automatically top-up from a bank account to a traffic account at VETC with a fixed amount when the traffic account at VETC reaches the minimum limit. Customers can choose the registration amount for automatic top-up according to fixed values, ​​including 500,000, 1 million, 3 million, 5 million, 10 million, 15 million. The fee applied is 2,000 VND/successful transaction (VAT not included).

Vietcombank

There is also the new FPTS online stock deposit feature. With this feature, customers can make payment transactions to securities accounts and receive the money transferred from securities companies to their bank accounts through the online connection between Vietcombank and FPT Securities Company (FPTS). Transaction limit: For regular customers: up to 1 billion VND/day; For Priority customers: up to 3 billion VND/day. Number of transactions: Unlimited number of payments per day and maximum payment amount/transaction.

The feature of choosing credit cards as payment sources is re-opened. Choosing credit cards as payment sources can be used for services such as booking flight tickets on the VCB Digibank application, paying QR code with a payment acceptor developed directly by a VNPAY partner.

 

Compiled by VietnamCredit

Categories
Banking & Finance

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