Techcombank adjusts interest rates
According to Lao Dong on October 9, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) issued a new deposit interest rate schedule.
Notably, after the adjustment, Techcombank became the first bank in the month to lower interest rates. This was an unexpected adjustment when the market recorded the adjustment trend at most banks is to increase interest rates.
Techcombank's online deposit interest rate table records the following changes:
Interest Rate for 1-month term is currently at 3.25-3.45%/year.
The 3-month Interest Rate is currently at 3.45-3.65%/year.
Interest Rate for 6-9 month term is currently at 4.55-4.65%/year.
Interest Rate for terms greater than 12 months decreased by 0.1 percentage point, down to 4.85-4.95%/year.
Techcombank's counter deposit interest rate table records the following changes:
The 1-month Interest Rate is currently at 3.15-3.35%/year.
The 3-month Interest Rate is currently at 3.35-3.55%/year.
Interest Rate for 6-9 month term is currently at 4.45-4.55%/year.
Interest Rate for 12-month term decreased by 0.1 percentage point, down to 4.75-4.85%/year.
Thus, after lowering interest rates, Techcombank has brought savings interest rates below 5% for all terms - this is a fairly low interest rate compared to other commercial banks on the market.
Since the beginning of October, the market has had 3 banks increase interest rates: Bac A Bank, LPBank and Eximbank, all of which recorded significant increases. For example, Eximbank increased by 0.7% for terms of 18 and 36 months; 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% for all terms.
Details of deposit interest rates at banks, updated on October 9, 2024
