According to Lao Dong, on December 2, ABBank updated its interest rate table with 3-month and 12-month terms increasing slightly, while 5-month and 15-24-month terms decreased significantly. VIB also adjusted its interest rate down by 0.1%/year for 3-5 month terms.
Year-end savings interest rates increase slightly, banks optimize capital mobilization strategies
Savings interest rates at the end of 2024 increased slightly, reflecting banks' high capital demand to support production and consumption. While state-owned commercial banks kept 12-month term interest rates at 4.7% - 4.8%/year, joint-stock commercial banks recorded higher interest rates, from 5.4% - 6.2%/year for long terms.
Since the beginning of November, 16 banks have adjusted their deposit interest rates upward, including Kienlongbank, VIB, MB, Agribank, and ABBank. Notably, MB, Agribank, and VIB increased their interest rates twice during the same period. It is expected that from now until the end of the year, interest rates may increase by 0.5 - 1 percentage point, depending on the term and strategy of each bank.
Despite the increase in interest rates, the State Bank remains steadfast in its policy of controlling interest rates to ensure financial market stability. Measures to support liquidity and regulate money supply are applied to reduce inflationary pressures while creating conditions for businesses and individuals to easily access capital.
However, rising capital costs and bad debt pressure remain major challenges, limiting the ability to reduce lending rates. In this context, banks continue to optimize capital mobilization and risk management strategies to ensure long-term financial stability.
12 banks pay interest rates above 6.0%/year
According to Lao Dong, VIB currently lists online deposit interest rates for 24-month terms at 6.3%/year.
SHB and Saigonbank simultaneously listed interest rates of 6.1%/year for a 36-month term, while Oceanbank and DongA Bank also kept the same rate for a 18-36-month term.
GPBank stands out with an online interest rate of 6.05%/year for terms from 13-36 months.
Bac A Bank applies an interest rate of 6.25%/year for a term of 18-36 months if the balance is over 1 billion VND, and 6.05%/year if under 1 billion VND.
Nam A Bank listed an interest rate of 6.2%/year for a 36-month term for deposits of VND500 billion or more.
HDBank maintains a special interest rate of 8.1%/year for a 13-month term at the counter, with a minimum balance of VND500 billion, and applies an online interest rate of 6.1%/year for an 18-month term.
Cake by VPBank is also in the group of banks with high interest rates, reaching 6.1%/year for 24-36 month term deposits.
See more daily bank interest rates HERE.
