Military Commercial Joint Stock Bank (MB) has just adjusted down deposit interest rates for many long-term terms.
According to the newly updated online interest rate schedule, savings interest rates paid at the end of the 12-18 month term simultaneously decreased by 0.1 percentage points, to 6.35%/year. Notably, MB no longer maintains the highest interest rate of 7.2%/year for the 24-month term, the bank reduced it to 7%/year. The 7%/year level is also continuing to be applied to terms of 36-60 months.
Meanwhile, interest rates for terms under 12 months are kept unchanged, including: 1 month 4.5%/year; 2 months 4.6%/year; 3-5 months 4.7%/year; 6-11 months 5.8%/year.
From May 26, MB also reduced deposit interest rates at the counter for long-term deposits. For deposits under 1 billion VND, the interest rate for 12-18 month terms is 6.2%/year, and for 24-60 month terms it is 7%/year. For deposits from 1 billion VND or more, the interest rate for 12-18 month terms is 6.3%/year, while the term of 24-60 months maintains 7%/year.
In the opposite direction, Nam A Commercial Joint Stock Bank (Nam A Bank) has just increased deposit interest rates for many terms.
According to the latest online interest rate schedule, the interest rate for 6-8 month terms increased by 0.3 percentage points, to 6.4-6.5%/year; the term of 9-11 months increased by 0.4 percentage points, to 6.6%/year. The 12-month term was also raised to 6.6%/year, while the terms of 13-17 months simultaneously increased to 6.7%/year.
Notably, Nam A Bank raised the highest interest rate to 6.9%/year for online deposits with terms of 18-36 months, an increase of 0.6 percentage points compared to before.
Nam A Bank applies a special interest rate of 8.3%/year for deposits from 500 billion VND, term 24 months and 8.1%/year for term 36 months. These interest rates must be approved by the General Director. Nam A Bank is one of the few banks to increase interest rates in May.
According to the State Bank of Vietnam (SBV), recently some credit institutions have "reversed the flow" by increasing deposit interest rates, affecting the stability of the monetary market.
In the coming time, the SBV said it will strengthen inspection and supervision of the implementation of the direction to reduce the general level of interest rates and strictly handle violations.
Statistics of banks with the highest savings interest rates today
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.
