Central Bank of Vietnam issues new decisions on deposit interest rates

According to Amac News: Based on VNA report, based on one of these decisions, the interest rate for dollar deposits of organizations and individuals in credit institutions and branches of foreign banks has been set at 0% per year.
Another decision announced the maximum interest rate for VND (Vietnamese currency) deposits with a term of less than one month for organizations and individuals in credit institutions and branches of foreign banks at 0.5% per year.
Likewise, the maximum interest rate for deposits with a duration of one to less than six months will be 4.75% per year.
According to SBV, these two decisions have been taken to ensure legal consistency with other guidelines issued on deposit interest rates.
In popular credit funds and micro-finance institutions, the maximum interest rate for VND deposits with a duration of one to less than six months is set at 5.25% per year.
For deposits with a duration of more than six months, interest rates are determined by credit institutions and foreign bank branches based on the supply and demand of capital in the market.