Deposit interest rates skyrocket
Current Bank of Vietnam (MBV) has just adjusted its deposit interest rates sharply, reaching the highest level for 3-5 month term deposits.
Online mobilization interest rates at the end of the term, 1 and 2 months increased by 0.5%/year to 4.6%/year and 4.7%/year, respectively. This is the highest mobilization interest rate on the market today for this term; the 3 to 5 month term increased by 0.35%/year, to 4.75%/year - the maximum rate according to the regulations of the State Bank for term deposits under 6 months.
Along with MBV, Bac A Bank is also listing an interest rate of 4.75%/year for a term of 3-5 months.
For the 6-11 month term, MBV increased from 0.1% to 0.2%/year, to 5.7%/year; the 12-36 month term increased from 0.1% to 0.2%/year, to 6%/year.
In addition to increasing deposit interest rates, MBV also announced an interest rate promotion program with an additional interest rate of up to 0.7%/year for savings deposits. Therefore, the highest deposit interest rate at this bank can be up to 6.7%/year, not just 6%/year as listed.
Thus, since the beginning of November, 13 banks have adjusted their deposit interest rates.
Of which, 12 banks increased interest rates, including: VPBank, MB, HDBank, GPBank, BVBank, Sacombank, BaoViet Bank, PVCombank, Techcombank, LPBank, Cake by VPBank and MBV.
One bank that adjusted in opposite directions is KienlongBank, which reduced interest rates for 8-9 month terms and increased interest rates for short terms.
In particular, many banks have adjusted the increase to a sharp increase of 0.3%/year-0.5%/year such as Cake by VPBank, PVCombank, BaoViet Bank, MB, MBV...
Highest special interest rate 6.5-9%
The highest deposit interest rate at banks ranges from 6-9%/year. However, to enjoy this interest rate, customers must meet special conditions.
PVcomBank applies a special interest rate of 9%/year for a term of 12-13 months when depositing money at the counter. The applicable condition is that customers must maintain 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 the condition of maintaining a minimum balance of VND500 billion.
Vikki Bank applies an interest rate of 7.5%/year for term deposits of 13 months or more, with a minimum amount of 999 billion VND; Bac A Bank is applying the highest interest rate of 6.5%/year for terms from 18 to 36 months, 6.3%/year with terms of 1315 months and 6.1%/year, term of 6-8 months at 6%/year, term of 9-11 months is 6.05%/year, term of 12 months is 6.2%/year.
IVB applies an interest rate of 6.15%/year for a term of 36 months, conditions applied to deposits of VND 1,500 billion or more; ACB applies an interest rate of 6%/year for a term of 13 months receiving interest at the end of the term when customers have a deposit balance of VND 200 billion or more.
At LPBank, for deposits of VND300 billion or more, the mobilization interest rate applied to customers receiving interest at the end of the term is 6.5%/year, receiving monthly interest of 6.3%/year and receiving interest at the beginning of the term is 6.07%/year.
Viet A Bank applies an interest rate of over 6%/year for Dac Tai Savings products. Of which, the 6-month term interest rate is 6.0%/year; 7 months is 6.1%/year; 12 months is 6.5%/year; 13 months is 6.6%/year; 15 months is 6.7%/year and 18 months reach the highest level of 6.8%/year. To participate, customers need to deposit at least 100 million VND and make transactions at the counter, with the form of receiving interest at the end of the term.
Banks with interest rates from 6% do not apply special conditions
Currently, interest rates above 6%/year are being listed by some banks for long-term deposits, without a minimum deposit requirement.
Vikki Bank applies an interest rate of 6%/year for a 6-month term, 6.2%/year for a 12-13 month term; Cake by VPBank applies an interest rate of 6.3%/year for a 6-8 month term, 6.4%/year for a 9-11 month term, 6.5%/year for a 12-36 month term; HDBank applies an interest rate of 6%/year for a 15-month term and 6.1%/year for a 18-month term; BVBank also pays 6.1%/year for a 60-month term and 6.0%/year for a 48-month term. Viet A Bank maintains a rate of only 6.0%/year for a 36-month term.
Bac A Bank applies an interest rate of 6%/year for a 12-month term; 6.1%/year for a 13-15-month term; 6.3%/year for a term of 18-36 months; MBV applies an interest rate of 6% for a term of 12, 18, 24 and 36 months.
Statistics of banks with the highest savings interest rates today:
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.
