Deposit interest rates increase sharply
Recently, the interest rate race between banks has become increasingly vibrant. Since the beginning of December, 18 banks have increased deposit interest rates, including: Nam A Bank, MB, BVBank, Saigonbank, NCB, Cake by VPBank, Techcombank, Bac A Bank, ACB, Sacombank, SHB, KienlongBank, PGBank, OCB, VCBNeo, BIDV, VIB and VPBank.
Of which, NCB, VPBank and Techcombank have adjusted interest rates twice.
A series of banks have adjusted interest rates for terms under 6 months to 4.75% - the ceiling according to the regulations of the State Bank. These include: Cake by VPBank, MBV, Bac A Bank, Nam A Bank, Sacombank, VPBank, VIB, PGBank, VCBNeo.
Dozens of banks have pushed interest rates above 6.5%/year. Typically: Vikki Bank, Cake by VPBank, Nam A Bank, PGBank, Bac A Bank, Viet A Bank, ...
Notably, banks in the Big4, which maintain stable and less volatile interest rates, are also participating in the race to increase interest rates, including: VietinBank and BIDV.
Highest special interest rate 6.59%/year
The highest deposit interest rate at banks currently fluctuates around 6.59%/year, but to enjoy this interest rate, customers must meet special conditions on deposit scale.
PVcomBank applies a special interest rate of 9%/year for a term of 1213 months when depositing money at the counter, with the condition of maintaining a minimum balance of VND 2,000 billion.
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 VND500 billion.
Vikki Bank applies an interest rate of 8.4%/year for deposits with a term of 13 months or more, with a minimum deposit of 999 billion VND.
Bac A Bank is applying the highest interest rate of 6.5%/year for terms of 1836 months; 6.3%/year for terms of 1315 months; 6.2%/year for terms of 12 months; terms of 68 months are at 6%/year and 911 months are 6.05%/year.
Viet A Bank applies an interest rate of over 6%/year for Dac Tai Savings products, with interest rates ranging from 6.0%/year for a 6-month term to 6.8%/year for a 18-month term. The applicable condition is that the minimum deposit is 100 million VND, transacted at the counter and received interest at the end of the term.
For deposits over 1 billion VND at Bac A Bank, interest rates are increased to 6.4%/year for 68 month terms; 6.45%/year for 911 month terms; 6.5%/year for 12-month terms; 6.6%/year for 1315 month terms and 6.7%/year for 1836 month terms.
Nam A Bank applies an interest rate of 6.5%/year for a 24-month term and 6.3%/year for a 36-month term, with the condition that the deposit amount is from VND500 billion or more.
Many banks list interest rates above 6%/year without conditions
In addition to special interest rate packages, many banks are also listing interest rates above 6%/year for long terms without a minimum deposit requirement.
Vikki Bank applies an interest rate of 6.5%/year for a 6-month term; 6.6% and 6.7%/year for a 12- and 13-month term. Cake by VPBank maintains 6.7%/year for terms from 636 months.
HDBank listed an interest rate of 6%/year for a 15-month term and 6.1%/year for a 18-month term. BVBank pays 6%/year for a 24-month term for online deposits, 6%/year for a 49-month term and 6.1%/year for a 60-month term when depositing at the counter. Viet A Bank maintains 6%/year for a 36-month term.
Bac A Bank listed interest rates at 6.5%/year for 611 month terms; 6.55%/year for 12-month terms; 6.6%/year for 1315 month terms and 6.7%/year for 1836 month terms. VCBNeo applies 6.2%/year for 6-month terms and terms from 1260 months. PVcomBank listed an interest rate of 6.3%/year for 1536 month terms; Sacombank applied 6%/year for 1836 month terms.
At SHB, the interest rate for 1518 month terms is 6%/year; the 24-month term is 6.1%/year and the 36-month term is 6.2%/year.
KienlongBank applies 6.4%/year and 6.3%/year for 6 and 7-month terms. NCB listed interest rates at 6.2%/year for 68 month terms; 6.25%/year for 911 month terms and 6.3%/year for terms from 1236 months. OCB applies an interest rate of 6%/year for an 18-month term; 6.1%/year for a 21-month term; 6.2%/year for a 24-month term and 6.4%/year for a 36-month term. VIB applies an interest rate of 6.5%/year for a 12-month term.
Compare the highest bank interest rates for 3-month terms
Interest rates for savings deposits at banks for 6-month terms
For 12-month savings, which bank has the highest interest rate?
Agribank interest rates, Sacombank interest rates, SCB interest rates, Vietcombank interest rates... are the highest for a 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 on interest rates HERE.
