Bank interest rates today August 18: Series of banks adjust interest rates

VCBNeo has just brought online deposit interest rates for terms of 6-60 months back to 7%/year. In which, interest rates for terms of 6-11 months decreased by 0.5 percentage points, and for terms of 12-60 months decreased by 0.8 percentage points.

At the counter, VCBNeo reduced the interest rate of the "Van Phat Loc" deposit product by 0.1 percentage points, bringing the 12-60 month term down to 6.9%/year. The remaining terms remain unchanged at 4.75%/year for terms of 1-5 months and 6.5%/year for terms of 6-11 months. This is also the interest rate schedule applied to flexible savings deposit products.

LPBank also reduced deposit interest rates for all terms. For online deposits with interest paid at the end of the term, the 1-month term decreased by 0.3 percentage points to 4.4%/year; 2 months decreased by 0.1 percentage points to 4.6%/year; 3-5 months decreased by 0.1 percentage points to 4.65%/year.

The 6-month term decreased by 0.1 percentage points to 7%/year; 7-11 months decreased by 0.2 percentage points to 6.9%/year; 13-18 months decreased by 0.1 percentage points to 7.15%/year. The terms of 12, 24 and 25 months also decreased by 0.1 percentage points to 7.2%/year, which is also the highest level currently at LPBank. The 36-month term decreased by 0.1 percentage points to 6.1%/year; 48-60 months decreased by 0.5 percentage points, to 5.7%/year.

Nam A Bank adjusted down deposit interest rates for some terms. For VND online deposits with interest paid at the end of the term, the 2-5 month term decreased by 0.05 percentage points to 4.7%/year; 18 months decreased by 0.1 percentage points to 6.8%/year; 36 months decreased by 0.3 percentage points to 6.6%/year.

The remaining terms remain unchanged, including 1 month 4.6%/year; 6 months 6.4%/year; 7-8 months 6.5%/year; 9-12 months 6.6%/year; 13-17 months 6.7%/year and 24 months 6.9%/year. In which, 6.9%/year is the highest online interest rate at Nam A Bank.

For deposits at counters, Nam A Bank maintains the same interest rate schedule, with terms of 6 months at 5.6%/year; 12 months 6.2%/year and 13-36 months 6.3%/year. The level of 6.3%/year is also the highest interest rate at counters.

VPBank updates the deposit interest rate schedule for individual customers from August 7th, sharply reduced for many terms. For deposits at the counter, the bank divides them into 5 groups of limits: 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 apply the same interest rate for each term, while deposits from 10 billion VND or more have slightly higher interest rates.

For deposits under 1 billion VND, the 1-2 month term decreased by 0.3 percentage points to 4.45%/year; 3-5 months decreased by 0.1 percentage points to 4.65%/year; 6-13 months decreased by 2.4 percentage points, from 8.4% to 6%/year; 15-24 months decreased by 2 percentage points, from 7.8% to 5.8%/year.

For deposits from 10 billion VND or more, the current counter interest rate fluctuates from 4.45-6.1%/year, a significant decrease compared to the previous month.

In the online channel, VPBank also reduced interest rates for many terms from August 7. The levels of 8.9-9%/year previously applied to some large deposits no longer appear. Deposits under 10 billion VND currently have an interest rate of 4.75-6.2%/year; from 10 billion VND or more at 4.75-6.3%/year. The highest online interest rate at VPBank is currently 6.3%/year.

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