According to Lao Dong, 16 banks have increased their deposit interest rates since the beginning of November, including: Kienlongbank, CBBank, SeABank, BaoViet Bank, HDBank, GPBank, LPBank, Nam A Bank, IVB, Viet A Bank, VIB, MB, Agribank, Techcombank, ABBank, and VietBank. Of which, MB, Agribank and VIB are the banks that have increased their interest rates twice since the beginning of the month.
How to deposit money according to experts?
Deposit interest rates at many banks have started to increase again since April 2024, with adjustments ranging from 0.1% to 1% depending on the term. This trend is forecast to last until the end of the year, creating opportunities for depositors who want to optimize profits. However, the expected increase is not large, only from 0.5% to 1%, making it difficult for savings profits to compete with higher-risk investment channels such as real estate or stocks.
Dr. Nguyen Tri Hieu - economic expert - commented that this is a favorable time to make long-term savings, when interest rates may continue to increase slightly but are unlikely to fluctuate strongly in the near future.
A report from Dragon Capital Securities Company (VDSC) shows that the increase in interest rates is mainly concentrated in medium and long terms, reflecting the recovery of interest rates after previous decreases.
Although savings are considered a safe and low-risk investment channel, suitable for those who prioritize capital preservation, depositors should note that factors such as exchange rates and inflation can reduce the real value of the money in the future. Therefore, careful consideration before making a decision is necessary.
Details of highest interest rates at terms
The highest 1-month savings interest rate is 4.15%/year, applied at Nam A Bank, followed by OceanBank with 4.1%/year and Bac A Bank with 4.05%/year.
For a 3-month term, the highest interest rate is at Nam A Bank with 4.7%/year. Following is OceanBank with 4.4%/year and Bac A Bank with 4.35%/year.
The 6-month term recorded the highest interest rate of 5.65%/year at CBBank. Two banks, NCB and Dong A Bank, followed with an interest rate of 5.55%/year. Bac A Bank ranked third with an interest rate of 5.5%/year.
For the 9-month term, NCB leads with an interest rate of 5.7%/year, followed by Bac A Bank and CBBank with 5.6%/year, and Dong A Bank applies 5.55%/year.
For 12-month term, Bac A Bank leads with an interest rate of 5.9%/year. Next are three banks listing an interest rate of 5.8%/year including SaigonBank, NCB, CBBank.
For the 18-month term, Bac A Bank leads with the highest interest rate in the market of 6.25%/year. Next are three banks listing the same interest rate of 6.1%/year including Dong A Bank, HDBank, OceanBank.
See more daily bank interest rates HERE.
