Interest rates rise and fall in opposite directions
Dong A Bank's interest rates increased by 0.2%/year for terms from 1-5 months. After adjustment, terms from 1-2 months increased to 4.1%/year; terms from 3-5 months increased to 4.3%/year;
On the contrary, Bac A Bank has sharply reduced its interest rates for many terms. Accordingly, this bank has reduced its interest rates by 0.15% per year for terms from 1-11 months and by 0.1% per year for terms from 12-36 months.
After adjustment, the 1-2 month term for deposits under 1 billion VND decreased to 3.7%/year; 3-month term to 4.1%/year; 4-month term to 4.1%/year; 5-month term to 4.2%/year; 6-8 month term to 5.15%/year; 9-11 month term to 5.25%/year; 12-month term to 5.6%/year; 13-15 month term to 5.65%/year; 18-36 month term to 5.95%/year.
Bac A Bank also made similar adjustments for deposits of VND1 billion or more. After the adjustment, the 1-2 month term is 3.9%/year; 3-month term is 4.2%/year; 4-month term is 4.3%/year; 5-month term is 4.4%/year; 6-8 month term is 5.35%/year; 9-11 month is 5.45%/year; 12-month term is 5.8%/year; 13-15 month term is 5.85%/year; 18-36 month term is currently at the highest rate of 6.15%/year.
Thus, since the beginning of December, 6 banks have increased interest rates, including: ABBank, IVB, TPBank, GPBank, MSB and Dong A Bank. On the contrary, ABBank, VIB, IVB, LPBank and Bac A Bank are the banks that have reduced interest rates this month.
Special interest rate highest 7-9.5%
Many banks list interest rates at high levels, up to 7-9.5%. However, to receive this interest rate, special conditions must be met.
PVcomBank is currently leading in special interest rates when customers deposit money at the counter, with 9.5% for a term of 12-13 months. However, the condition to receive this interest rate is that customers must have a minimum deposit balance of VND 2,000 billion.
Next is HDBank with a particularly high interest rate, up to 8.1%/year for a 13-month term and 7.7% for a 12-month term, with a minimum balance of VND500 billion. This bank also applies a 6% interest rate for an 18-month term.
MSB applies interest rates for deposits at the counter up to 8%/year for a 13-month term and 7% for a 12-month term. The applicable conditions are that the savings book is newly opened or the savings book is opened from January 1, 2018, automatically renewed with a term of 12 months, 13 months and the deposit amount is from 500 billion VND.
Dong A Bank has a deposit interest rate of 13 months or more, with the final interest rate applied to deposits of 200 billion VND or more at 7.5%/year. This bank also applies an interest rate of 6.1% for a 24-month term.
Bac A Bank applies an interest rate of 6.15% for a term of 18-36 months, applicable to deposits over 1 billion VND.
Interest rate over 6% without special conditions
Interest rates above 6%/year are also being listed by some banks for long-term deposits but without a minimum deposit requirement.
Currently, IVB applies an interest rate of 6.2%/year for terms of 24 months or more, 6.05%/year for terms of 18 months and 6.05% for terms of 13 months; GPBank applies an interest rate of 6.25%/year for terms of 12 months and 6.35%/year for terms of 13-36 months.
Cake by VPBank applies an interest rate of 6.1% for a 24-month term; OceanBank applies an interest rate of 6.1% for a 24-month term; GPBank applies an interest rate of 6.05% for terms from 13-36 months.
BVBank applies an interest rate of 6% for 12-month and 24-month terms; VRB and Dong A Bank apply an interest rate of 6% for 24-month terms; VietABank applies an interest rate of 6% for 36-month terms; SaigonBank applies an interest rate of 6% for 13-, 18- and 24-month terms, and 6.1% for 36-month terms; HDBank applies an interest rate of 6% for 15-month terms and 6.1% for 18-month terms; BAOVIET Bank applies an interest rate of 6% for 15-, 18-, 24- and 36-month terms.
Eximbank applies interest rates on weekends (Saturday and Sunday) for 15-month terms at 6.3%/year; for 18-month terms up to 6.4%/year.
Statistics of banks with the highest savings interest rates today:
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Latest update of Agribank interest rates, Sacombank interest rates, SCB interest rates, Vietcombank interest rates... highest for 24-month term.
Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.
Readers can refer to more articles about interest rates HERE.
