According to Lao Dong on October 21, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) issued a new interest rate schedule today. However, the new interest rate schedule does not record any changes in the main deposit items. Eximbank's savings interest rate is still fluctuating between 3.1-5.9%/year.
According to records, in September 2024, 12 banks adjusted their deposit interest rates up. This is the number of banks that increased interest rates the least in the last 5 months. In the previous months, there were months when up to 20 banks increased their savings interest rates, many banks increased 2 to 3 times in a month.
After more than half of October, the interest rate level has only recorded 4 banks increasing interest rates, many consecutive days no bank has changed.
Banks that increased interest rates in October include Bac A Bank, Eximbank and LPBank. Notably, a large bank in the Big 4 group, Agribank, also recorded an interest rate increase in October.
Apart from Agribank, the remaining banks all recorded significant interest rate increases. For example, Eximbank increased by 0.7 percentage points for 18 and 36 month terms; Bac A Bank increased simultaneously for terms under 12 months, entering the top banks with the highest interest rates. LPBank also increased by 0.6 percentage points for all terms.
On the contrary, Techcombank is the only bank that has reduced interest rates since the beginning of October. This bank listed a 0.1% reduction for terms greater than 12 months, bringing the interest rate across the system to below 5.0%/year.
What is the highest savings Interest Rate?
Highest Interest Rate for 1-3 month term
According to Lao Dong, at the 1-month term, the highest deposit interest rate currently belongs to OceanBank with an interest rate of 4.1%/year. Followed by Bac A Bank with an interest rate of 4.0%/year.
At the 3-month term, the highest interest rate is 4.4%/year currently listed by OceanBank. The next highest interest rate is 4.3%/year listed by Eximbank and Bac A Bank. The rate of 4.2%/year is listed by OCB.
Highest Interest Rate for 6-9 month term
At term 6, CBBank leads with an interest rate of 5.55%/year. NCB and Bac A Bank pay interest of 5.45%/year. Next is the interest rate of 5.4%/year at OceanBank.
At the 9-month term, the highest interest rate is 5.65%/year at NCB, followed by the interest rate of 5.55%/year, currently listed by Dong A Bank and Bac A Bank.
Highest Interest Rate for 12-18-36 month terms
At the 12-month term, the leading bank with the highest interest rate is Bac A Bank with an interest rate of 5.9%/year.
Followed by OceanBank, Dong A Bank, NCB, BVBank, Saigonbank, BaovietBank with interest rate of 5.8%/year.
For the 18-36 month term, NCB leads with the highest interest rate of 6.15%/year. Followed by HDBank, OceanBank, Dong A Bank with interest rate of 6.1%/year.
Details of deposit interest rates at banks, updated on October 21, 2024
