Agribank increases deposit interest rates, setting the highest level since the beginning of 2024
According to Lao Dong's records, compared to the end of October 2024, the online mobilization interest rate table listed by Agribank has changed as follows:
Interest rates for 1-2 month terms increased to 2.4%/year, and for 3-5 month terms increased to 2.9%/year.
Next, the terms of 6-9 months when depositing money online at this bank were adjusted to 3.6%/year, while the terms of 12-18 months increased to 4.8%/year and the terms of 24 months reached 4.9%/year. This is the highest interest rate applied by Agribank since the beginning of 2024.
Consecutive interest rate adjustments since August
Since August, Agribank has adjusted deposit interest rates many times.
August: Interest rates for 1-2 month terms increased by 0.2%/year, 3-5 month terms increased by 0.3%/year, and 24 month terms increased by 0.1%/year.
September: Interest rates for 1-2 month terms increased by 0.2%/year, while those for 3-5 month terms increased by 0.3%/year.
October: Agribank continued to increase 0.2%/year for terms of 1-5 months, but decreased 0.1%/year for terms of 6-11 months.
November: On November 7, the bank continued to increase by 0.3%/year for 6-9 month terms. Then, on November 15, Agribank simultaneously adjusted the increase for all terms as mentioned above.
Differences in the Big4 group
While Agribank has continuously increased deposit interest rates in the past 4 months, the remaining banks in the Big4 group (VietinBank, BIDV, Vietcombank) have kept their interest rates unchanged and have not made any adjustments.
The sharp increase in interest rates at Agribank, especially at the end of the year, is creating significant competition in the capital mobilization market.
Depositing 700 million VND at Agribank, how much interest will I receive at each term?
Readers can quickly calculate bank interest using the following formula:
Interest = Deposit x interest rate (%)/12 months x number of months of deposit.
Thus, depositing 700 million VND at Agribank, customers can receive the highest interest rate as follows (applicable to individual customers):
* Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.
Readers can refer to more articles about interest rates HERE.
