Savings interest rates increase sharply, 6-month term up to 8.2%

The wave of raising deposit interest rates continues to spread, especially in the online savings channel, when many banks apply a policy of adding interest rates to attract idle money, bringing the 6-month term interest rate above the 8%/year mark.

NCB announces a program to add interest rates up to 2%/year for individual customers depositing online savings through the digital banking application. The application conditions are expanded for deposits with terms of 6 months or more and last until January 31, 2026. With this additional level, the online deposit interest rate at NCB for terms of 6–8 months is up to 8.2%/year; the term of 9–11 months reaches 8.25%/year; and the term of 12–36 months reaches 8.3%/year. This is currently the highest deposit interest rate on the market, applicable to individual customers depositing online savings.

Cake by VPBank also pushed interest rates above 8% through a policy of adding interest rates for 6-month term deposits, with gradual increases according to deposit balance from 0.2% to 1%/year. After adding, the interest rate customers enjoy ranges from 7.3%-8.1%/year, depending on the amount of deposit.

At PVcomBank, this bank is applying an additional program of up to 1.5%/year for customers who deposit online on Fridays every week. The application condition is online deposit, term from 12 months or more and minimum deposit amount from 100 million VND. With this additional level, a deposit of 100 million VND can enjoy an interest rate of 7.6%/year for a 12-month term and 7.8%/year for a 13-month term. If choosing a term from 15–36 months, the actual received interest rate is up to 8.3%/year, a rare level on the market today for not large deposits.

Meanwhile, BVBank is deploying an online deposit certificate product with the highest interest rate of up to 7.8%/year. Customers can purchase deposit certificates via digital channel with a minimum amount of 10 million VND, applicable to four terms including 6, 9, 12 and 15 months. The corresponding interest rate is 6.5%/year for terms of 6 and 9 months; 6.8%/year for a term of 12 months; and highest 7.8%/year for a 15-month term.

In addition to additional incentive programs, some banks have officially listed savings interest rates exceeding the threshold of 7%/year such as OCB, Bac A Bank, PGBank, MBV and Cake by VPBank.