Under a directive issued on October 21, banks must reduce average interest rates on new deposits with maturities of six months or longer by at least 0.5 percentage points per year in the final months of 2026, compared with the rates reported for the period from October 11 to 20.
The State Bank of Vietnam will monitor compliance through statistical reports and has warned that banks failing to comply could face strict penalties, including reductions in their credit growth targets.
