Unexpected increases and decreases, highest at 9.5%/year
As noted by Lao Dong, on August 22, Vietnam Public Commercial Joint Stock Bank (PVCombank) issued a new deposit interest rate schedule with alternating increasing and decreasing trends.
PVCombank's online deposit interest rate schedule records changes as follows:
The 1-month term interest rate decreased slightly by 0.05 percentage points, down to 3.3%/year.
The 3-month term interest rate increased slightly by 0.05 percentage points, to 3.6%/year.
The 6-month term interest rate is 4.5%/year.
The 9-month term interest rate is 4.7%/year.
The 12-month term interest rate is 5.1%/year.
Interest rate for 18-36 month term is 5.8%/year.
Online savings interest rates at PVCombank are about 0.3-0.5%/year higher than over-the-counter savings interest rates - currently listed as follows:
The 1-month term interest rate is 3.0%/year.
The 3-month term interest rate is 3.3%/year.
The 6-month term interest rate is 4.2%/year.
The 9-month term interest rate is 4.4%/year.
The 12-month term interest rate is 4.9%/year.
Interest rate for 18-36 month term is 5.3%/year.
In particular, PVCombank is applying the highest interest rate in the market for a 12-13 month term of 9.5%/year with the condition that the newly opened deposit balance is from 2,000 billion VND.
Thus, as of today, the market recorded 16 banks increasing savings interest rates, including: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank , SHB, VietBank, Dong A Bank, PVCombank.
However, since the beginning of August, the market has also had up to 4 banks adjusting "upstream" to reduce interest rates. Accordingly, the banks that reduced interest rates were mostly banks that previously had the second highest interest rates in the market such as ABBank, Bac A Bank, SeABank; PVCombank.
(See more high interest rates HERE )
Details of deposit interest rates at banks, updated on August 22, 2024
