Savings interest rates continue to fall sharply
Vietcombank reduces savings interest rates for 24-month terms by 0.5%/year; Agribank also reduces deposit interest rates for terms of 24 months or more by 0.5%/year for individual customers. Both banks apply from April 13.
At Military Bank (MB), savings interest rates are adjusted down by 0.1–0.5%/year. After adjustment, the interest rate at the end of the term for deposits under 1 billion VND is at 3.7%/year (1 month term), 3.8%/year (2 months), 4.1%/year (3–5 months), 4.6%/year (6–11 months), 6.3%/year (12–18 months), 7.2%/year (24 months) and 7%/year (36–60 months).
OCB also adjusted down in many terms, with a decrease of 0.2–0.5%/year. After the adjustment, online savings interest rates are at 4.75%/year (3-month term), 6.4%/year (6–9 months), 6.7%/year (12 months), 6.4%/year (13–15 months), 6.6%/year (18 months), 6.7%/year (21 months), 6.8%/year (24 months) and 7%/year (36 months).
Thus, after the meeting with the State Bank, about 20 commercial banks announced deposit interest rate reductions.
Highest special interest rate 9-10%/year
The market recorded many special interest rate packages at high levels, ranging from 7-10%/year.
PVcomBank is applying a special interest rate of 10%/year for a term of 12-13 months when depositing money at the counter, with the condition of maintaining a minimum balance of 20,000 billion VND. The new interest rate has increased by 1%/year, previously, the bank listed 9%/year for the same term and deposit conditions.
Cake by VPBank is applying an interest rate of 7.2-7.4%/year for terms from 6 to 24 months. The bank maintains a policy of adding 1.3%/year, bringing the highest actual received interest rate to 8.7%.
MSB announces an interest rate of 9%/year for newly opened customers, or savings books opened from the beginning of 2018 automatically renewed, with terms of 12 months, 13 months and deposits from 500 billion VND or more for a term of 13 months.
HDBank applies an interest rate of 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, with a minimum balance of 500 billion VND.
Vikki Bank applies an interest rate of 8.4%/year for deposits from 13 months or more, with a minimum deposit amount of 999 billion VND.
Statistics of banks with the highest savings deposit interest rates today:
Comparing the highest bank interest rates for a 3-month term
Interest rates for 6-month term savings deposits at banks
12-month savings deposit, which bank's interest rate is the highest?
Highest bank interest rate for 24-month term
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.
