Deposit interest rates are clearly differentiated between bank groups. The state-owned banking group including Vietcombank, BIDV, VietinBank and Agribank continues to maintain a stable interest rate level, belonging to the lowest group in the market. Meanwhile, many small and medium-sized joint-stock commercial banks still apply significantly higher interest rates to increase attractiveness to deposit flows.
According to surveys, there are currently about 8 banks listing interest rates from 7%/year or higher for some terms. High interest rates are mainly concentrated in terms of 6 months or more, showing that the demand for mobilizing medium and long-term capital is still present. Notably, some banks also apply special interest rates of up to 9-10%/year for very large value deposits. In which, PVcomBank leads with a rate of 10%/year for terms of 12-13 months for new deposits from 2,000 billion VND or more, while MSB applies a rate of 9%/year for customers depositing from 500 billion VND or more for similar terms.
In addition, some banks maintain high interest rates through preferential programs or separate conditions. For example, Cake by VPBank is implementing an additional interest rate program for new customers, helping the highest actual interest rate to reach 8.9%/year. HDBank applies a special interest rate of 7.2-7.6%/year for deposits from 500 billion VND or more, while Vikki Bank lists a rate of 7.9%/year for deposits from 999 billion VND. In addition, Saigonbank, MBV, Bac A Bank and Sacombank are also in the group of banks with interest rates from 7%/year or more for some terms.
The interest rate gap between the Big4 group and the joint-stock commercial bank sector is still quite large. For the same term, the interest rate difference can be up to several percentage points, reflecting the advantages in liquidity, capital scale and brand of state-owned banks.
In general, the deposit interest rate level is currently relatively stable. Most banks are listing interest rates in the range of 6-7%/year for medium and long-term terms, and there has not been a widespread wave of strong increases. Superior interest rates are mainly individual and come with special conditions on deposit amounts or target customers.
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.
