Savings interest rates in 2025 are expected to continue to increase
Entering 2025, the highest savings interest rate ranges from 4.7% to 6.15% per year for common terms from 6 to 12 months. In the second half of 2024, this interest rate may increase by about 0.5-1% depending on the term. The main reason is the high demand for credit in the economy when businesses expand production activities at the end of the year.
Currently, savings interest rates are still kept at a reasonable level, bringing stable profits to depositors in the short term. In this context, economic experts believe that mobilization interest rates will remain stable, with a slight increase of about 0.2%/year by the end of the year. This is mainly due to good control of inflation and economic stability, along with little pressure from international central banks such as the US Federal Reserve when they reduce interest rates.
However, the market is still somewhat fragmented. While major banks have kept interest rates relatively unchanged, some smaller banks continue to maintain higher interest rates to attract customers. This gives depositors more options for savings products with attractive interest rates, although the difference between banks is not large.
While the main trend is stability, some minor interest rate adjustments could still occur in 2025 if the economy recovers strongly or credit growth suddenly increases.
Banks with the highest interest rates at various terms
Deposit interest rates increased significantly in the second half of 2024. Entering the new year, which bank pays the highest interest?
For a 1-month term, the bank with the highest interest rate is Cbbank at 4.15%/year. Nam A Bank is second, applying an interest rate of 4.5%/year. Ranked third is a group of banks including Vietbank, OCB, IVB and Bvbank, with an equal interest rate of 4.0%/year.
Nam A Bank continues to lead in the 3-month term with an interest rate of 4.7%/year. Cbbank follows closely with an interest rate of 4.35%/year, while Abbank ranks third with an interest rate of 4.45%/year, providing an attractive choice for customers.
For the 6-month term, Cbbank stands out with the highest interest rate, reaching 5.85%/year. Gpbank is in second place, applying an interest rate of 5.35%/year. Bac A Bank completes the top 3 with an interest rate of 5.15%/year.
For the 9-month term, Cbbank once again holds the leading position with an interest rate of 5.85%/year. Dong A Bank and Gpbank are tied for second place, both applying an interest rate of 5.7%/year, providing many competitive options.
The 12-month term recorded Gpbank leading with an interest rate of 6.05%/year, slightly higher than its competitors. In second place is Cbbank with an interest rate of 6.0%/year, equal to Bac A Bank and Baovietbank, creating even competition.
Finally, at the 18-month term, Gpbank continued to maintain its number one position with an interest rate of 6.15%/year. Oceanbank and Dong A Bank ranked second with an interest rate of 6.1%/year, while Bac A Bank ranked third with an interest rate of 5.95%/year.
See more daily bank interest rate updates HERE.
