ACB raises gold deposit interest rate to 2.5%

ACB raised its gold deposit interest rate to 2.5% per annum through their “gold day with ACB” program.

This is higher than the common interest rate of certificate of deposits in gold by 1% per annum.

ACB’s interest rate for C/Ds in SJC gold is at 1.45-1.5% p.a. while ACB gold at 1.55-1.6% p.a., up 0.5% p.a. from the previous interest rate benchmark of C/Ds in gold at 0.95-1.2% per annum.

Thus, ACB also joined the race to raise the interest rate for C/Ds in gold of banks.

Earlier, the interest rate of C/Ds in gold was pushed up to 3.2% p.a. by Orient Commercial Joint Stock Bank and TinNghiaBank.