Interest rates on 13-month term deposits are being listed at high levels by many banks, in which some banks apply rates above 7%/year.
SCB has just adjusted the interest rate for the "Normal 13-month Deposit" product, from 3.9%/year to 8.7%/year. Under normal conditions, this is the highest interest rate on the market today for the 13-month term. Other terms and deposit products are kept unchanged.
Thus, the interest rate of this product has increased by 4.8 percentage points after just one adjustment. This is a rare increase in an interest rate adjustment.
The rate of 8.7%/year is currently the highest interest rate in SCB's deposit interest rate schedule. However, this interest rate is only applied to the 13-month term of the "Normal 13-month Deposit" product, for customers receiving interest at the end of the term.
While sharply increasing interest rates for the above products, SCB maintains the same interest rates for the remaining terms and deposit products. This bank still lists deposit interest rates at a low level in the market.
According to the online deposit interest rate schedule being listed by SCB for the end-of-term interest payment form, the 1-2 month term has an interest rate of 1.6%/year; the 3-5 month term is 1.9%/year; the 6-11 month term is 2.9%/year; the 12 month term is 3.7%/year and the 13-36 month term is 3.9%/year.
For the listed interest rate for ordinary savings and "Phat Loc Tai" savings product, SCB also applies an interest rate equivalent to online savings, with the highest listed rate of 3.9%/year.
On the market, the interest rate for 13-month term deposits at some other banks is also at a high level. Saigonbank is listing the online deposit interest rate for a 13-month term at 7.9%/year. The interest rates for 12-month and 18-month terms at this bank are 7.2%/year and 7%/year respectively.
At LPBank, online deposit interest rates for 6-month terms are listed at 7%/year. Terms of 12, 24 and 25 months have interest rates up to 7.2%/year, while terms of 13-18 months are listed at 7.15%/year.
Comparing the highest 3-month term bank interest rates
The highest 6-month term bank savings interest rate today
For 12-month savings, which bank has the highest interest rate?
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.
