Interest rate forecast for the end of 2024
Deposit interest rates have recently shown signs of slowing down, according to a macro report by MB Securities (MBS). Banks have only slightly increased deposit interest rates, by about 0.1% - 0.5%, thanks to abundant liquidity and cooling interbank interest rates.
MBS believes that to maintain liquidity, some banks will continue to adjust their deposit interest rates upward. At the end of September, the average 12-month deposit interest rate at joint stock banks increased to 5%, while state-owned banks maintained the rate at 4.7%.
MBS forecasts that 12-month deposit interest rates at major banks may increase by 0.2 percentage points, reaching about 5.1% - 5.2% by the end of 2024. Previously, in the August report, MBS expected input interest rates to increase slightly by 0.5 percentage points in the second half of the year, ranging from 5.2% to 5.5%/year.
On the other hand, Vietcombank Securities (VCBS) also predicts that the interest rate increase in the last months of 2024 will be difficult to continue and there will be differentiation among banks. Interest rates mobilized at state-owned banks may stabilize or decrease slightly by the end of the year, while at the group of private commercial banks, there will still be slight upward pressure to support credit growth.
What is the highest interest rate?
According to Lao Dong, for the 1-month term, Bac A Bank leads with an interest rate of 4.15%/year. OceanBank follows with an interest rate of 4.1%/year; Eximbank, Dong A Bank, OCB, NCB, MSB currently pay interest of 3.9%/year for this term.
At the 3-month term, Bac A Bank leads with an interest rate of 4.45%/year. Followed by OceanBank with an interest rate of 4.4%/year and Eximbank with an interest rate of 4.3%/year.
At the 6-month term, Bac A Bank currently pays the highest interest rate of 5.6%/year. Followed by NCB, Dong A Bank with interest rate of 5.55%/year and interest rate of 5.4%/year listed at OceanBank.
At the 9-month term, Bac A Bank currently pays an interest rate of 5.7%/year; NCB currently pays an interest rate of 5.65%/year. Following is the interest rate of 5.55%/year listed at Dong A Bank.
For a 12-month term, Bac A Bank currently offers the highest interest rate of 6.0%/year. This is followed by an interest rate of 5.9%/year at ABBank and an interest rate of 5.8%/year at OceanBank, Dong A Bank, NCB, BVBank, SaigonBank and BaovietBank.
(See the highest interest rates HERE)
Details of deposit interest rates at banks, updated on November 11, 2024
