ABBank: Highest interest rate drops sharply
According to the latest online deposit interest rate table today of An Binh Commercial Joint Stock Bank (ABBank):
The highest interest rate of 6.3%/year for a 24-month term is no longer maintained.
Long terms from 13-60 months are currently listed at 5.7%/year, down 0.6%/year compared to before.
The bank also adjusted short-term interest rates as follows:
3-month term: Increase 0.1%/year, up to 4.2%/year.
5-month term: Decreased by 0.1%/year, to 4.2%/year.
12-month term: Slight increase of 0.1%/year, up to 5.8%/year.
Interest rates for other terms remain the same:
1 month term: 3.2%/year.
Term 6-11 months: 5.6%/year.
13-month and 36-60-month terms: 5.7%/year.
VIB: Unexpected reduction in short-term interest rates
Vietnam International Commercial Joint Stock Bank (VIB) has adjusted interest rates down for some terms:
3-5 month term: Decreased by 0.1%/year, currently 3.8%/year.
Interest rates for other terms remain unchanged:
1 month term: 3.6%/year.
Term 6-11 months: 4.8%/year.
Term 24-36 months: Highest, at 5.4%/year.
Deposit 500 million VND, what is the highest interest rate?
At ABBank:
With a 12-month term, interest rate 5.8%/year:
Interest = 500 million VND x 5.8% = 29 million VND/year.
At VIB:
With a term of 24-36 months, interest rate 5.4%/year:
Interest = 500 million VND x 5.4% = 27 million VND/year.
The interest rate adjustment of ABBank and VIB shows consensus with the direction from the State Bank on maintaining stable interest rates. Depositors need to consider appropriate terms to optimize profits.
