A survey of deposit interest rates of more than 30 banks shows that the general level of short-term deposit interest rates is still maintained at a high level. Notably, the 6-month term interest rate has now exceeded the 8%/year mark.
Cake by VPBank is listing 6-month term interest rates at a normal rate of 7.2%/year when customers receive interest at the end of the term. When customers receive interest at the beginning of the term, monthly and quarterly, they will receive interest rates of 6.78%, 7.02% and 7.09%/year respectively.
Cake by VPBank is offering an additional 1.8% interest rate, applicable to customers depositing money for the first time, standard deposit products and accumulated deposits on the CAKE BANK application, with amounts from 100,000 VND, term of 6-12 months. Plus this preferential interest rate, customers depositing money for a 6-month term can receive an interest rate of up to 9%; for Cake by VPBank's 10-12 month terms, the actual received interest rate can be up to 9.2%.
In the short-term group, many banks continue to list 4.75%/year for terms of 3-5 months - the ceiling interest rate applied to deposits under 6 months according to the regulations of the State Bank.
Banks such as Cake by VPBank, Nam A Bank, MBV, BAC A BANK, OCB, VCBNeo, PGBank, BVBank, Sacombank, SaigonBank, BAOVIET Bank, VietABank, NCB, TPBank, MSB and PVcomBank all apply an interest rate of 4.75%/year for a 3-month term.
The fact that many banks simultaneously apply the maximum allowed interest rate for short terms shows that capital mobilization competition is still strong. In the context that the room to increase interest rates below 6 months is almost gone, banks are focusing on attracting cash flow for medium and long-term terms.
Meanwhile, the group of state-owned banks still maintains a significantly lower interest rate level. Vietcombank, VietinBank and BIDV all list interest rates of 2.4%/year for a 3-month term, while Agribank applies a rate of 2.9%/year. This creates a fairly large gap between the group of joint-stock commercial banks and state-owned banks in the capital mobilization race.
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.
