The bankers reached the consensus after they met on the issue in Hanoi on April 22 and Ho Chi Minh City on April 25.

The Association said the unanimous application of interest rate cap will help reduce the inter-bank transferred of capital to ensure each bank can maintain its capital for operation.

It also contributes to controlling inflation and rising prices as requested by the Prime Minister and the State Bank of Vietnam, said the Association.

The bankers have decided to keep the yearly interest rate for US dollar deposits at 6 percent as agreed previously and suggested those ceiling interest rates be applied nationwide as of April 29.