Deposit interest rates continue to have a clear differentiation between customer groups and terms. Many banks launch high preferential interest rate packages, but with strict conditions on minimum balance or deposit form.
At PVcomBank, the special interest rate of 9%/year is applied to a term of 1213 months, but only for customers depositing at the counter and maintaining a minimum balance of VND 2,000 billion. This is the highest level on the market today but only applies to a group of institutional customers with a very large scale of capital.
HDBank is listing interest rates at 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, with customers maintaining a minimum balance of VND500 billion. Meanwhile, Vikki Bank offers a 7.5%/year deposit for terms of 13 months or more, requiring a minimum deposit of VND 999 billion.
Bac A Bank applies the highest interest rate of 6.5%/year for terms from 1836 months, 6.3%/year for terms of 1315 months and 6.2%/year for terms of 12 months, with the condition that the deposit is from 1 billion VND or more. IVB also listed a rate of 6.15%/year for a 36-month term, but only for deposits of VND1,500 billion or more.
In the mid-sized commercial joint stock bank group, the highest interest rate ranges around 66.5%/year. ACB applies an interest rate of 6%/year for a 13-month term with interest paid at the end of the term, but only for customers with a balance of VND200 billion or more.
At LPBank, customers depositing VND300 billion or more are entitled to an interest rate of 6.5%/year when receiving interest at the end of the term; if receiving monthly, the interest rate is 6.3%/year, while receiving at the beginning of the term is 6.07%/year.
Viet A Bank deploys Dac Tai Savings products with interest rates from 66.8%/year for many terms. Specifically, the 6-month term interest rate is 6.0%/year; 7 months 6.1%/year; 12 months 6.5%/year; 13 months 6.6%/year; 15 months 6.7%/year and 18 months reached the highest of 6.8%/year. To participate, customers need to deposit at least 100 million VND, transact at the counter and receive interest at the end of the term.
Some other banks such as VietinBank, Vietcombank, MB, Techcombank, VietBank are also implementing a program to add interest or give gifts to encourage online deposits. The common additional rate is from 0.10.3 percentage points depending on the deposit form.
According to analysts, banks listing high interest rates for institutional customers or large deposits is to increase capital mobilization capacity in the context of increasing year-end credit demand. For individual customers, the common interest rate is still at 56%/year for a 612 month term, depending on whether you deposit at the counter or online.
