Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has just updated the deposit interest rate schedule for individual customers, applied from August 7. Accordingly, the deposit interest rate at the counter, receiving interest at the end of the term ranges from 4.45% - 6.1%/year.
Compared to the previous update, VPBank sharply reduced interest rates for many terms.
For counter deposits, VPBank divides them into 5 groups of limits including under 1 billion VND, from 1 billion VND to under 3 billion VND, from 3 billion VND to under 10 billion VND, from 10 billion VND to under 50 billion VND and from 50 billion VND or more.
Deposits under 10 billion VND are applied with the same interest rate for each term, while customers depositing from 10 billion VND or more enjoy a slightly higher interest rate.
Accordingly, for deposits under 1 billion VND, the interest rate for 1-2 month terms is at 4.45%/year, down 0.3 percentage points compared to before; the 3-5 month term is applied with an interest rate of 4.65%/year, down 0.1 percentage points; the interest rate for 6-13 month terms decreased sharply from 8.4%/year to 6%/year, equivalent to a decrease of 2.4 percentage points; the 15-24 month term decreased from 7.8%/year to 5.8%/year, equivalent to a decrease of 2 percentage points compared to July.
For deposits from 10 billion VND or more, the interest rate at the counter ranges from 4.45% - 6.1%/year, also significantly reduced compared to the previous month.
On the online channel, VPBank also simultaneously reduced interest rates for many terms from August 7. High interest rates from 8.9% - 9%/year previously applied to some large deposits no longer appear in the new interest rate schedule. The highest interest rate is currently only 6.3%/year.
According to the latest interest rate schedule, for deposits under 10 billion VND, online interest rates range from 4.75% - 6.2%/year.
For deposits from 10 billion VND or more, online interest rates at VPBank range from 4.75% - 6.3%/year, a sharp decrease compared to the previous month.
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Interest rate information is for reference only and may change in each period. Please contact the nearest bank transaction point or hotline for specific advice.
Readers can refer to more articles about interest rates HERE.
