Savings interest rate trend forecast to increase
According to a macro analysis report from MB Securities Company (MBS), interest rates in Vietnam in 2025 are forecast to be affected by international monetary policy trends and domestic inflation. MBS believes that the US Federal Reserve (FED) is likely to cut interest rates by the end of 2024, which could support stable interest rates in Vietnam.
In addition, reports from SSI Securities Corporation also emphasized that the Vietnamese currency market currently maintains stable liquidity and the State Bank of Vietnam has implemented many measures to stabilize the exchange rate, contributing to reducing pressure on interest rate increases. SSI predicts that, in the context of stable economic recovery, savings interest rates will likely remain at a reasonable level to support consumption and investment.
Accordingly, short- and medium-term savings interest rates are likely to increase gradually. However, the increase will not be sudden, as the State Bank tends to control to ensure the stability of the financial system.
Where is the best place to send money?
For the 1-month term, Bac A Bank leads with an interest rate of 4.15%/year. OceanBank follows with an interest rate of 4.1%/year; Eximbank, Dong A Bank, OCB, NCB, MSB currently pay interest of 3.9%/year for this term.
At the 3-month term, Bac A Bank leads with an interest rate of 4.45%/year. Followed by OceanBank with an interest rate of 4.4%/year and Eximbank with an interest rate of 4.3%/year.
At the 6-month term, Bac A Bank currently pays the highest interest rate of 5.6%/year. Followed by NCB, Dong A Bank with interest rate of 5.55%/year and interest rate of 5.4%/year listed at OceanBank.
At the 9-month term, Bac A Bank currently pays an interest rate of 5.7%/year; NCB currently pays an interest rate of 5.65%/year. Following is the interest rate of 5.55%/year listed at Dong A Bank.
For a 12-month term, Bac A Bank currently offers the highest interest rate of 6.0%/year. This is followed by an interest rate of 5.9%/year at ABBank and an interest rate of 5.8%/year at OceanBank, Dong A Bank, NCB, BVBank, SaigonBank and BaovietBank.
(See the highest interest rates HERE)
Details of deposit interest rates at banks, updated on November 14, 2024
