Which banks apply special interest rates above 7%/year?
Currently, some banks are implementing a special interest rate program of over 7%/year, but with the condition of a very large deposit:
PVcomBank: 9%/year for a 12-month term, applicable to deposits from VND 2,000 billion.
HDBank: 8.1%/year (13 months), 7.7%/year (12 months), applied from VND500 billion.
MSB: 8%/year (13 months), 7%/year (12 months), applicable to customers opening new or automatically renewing.
Vikki Bank: 7.5%/year (13 months), minimum requirement of 200 billion VND.
Highest online savings interest rate today
For online savings deposits, the highest interest rate currently belongs to Eximbank, but has been adjusted to 6.5%/year for a 24-month term.
Other banks are listing attractive online interest rates, including:
BVBank: 6.45%/year (24 months).
Timo by BVBank: 6.3%/year (24 months).
In addition, banks also offer high interest rates for other terms:
Eximbank: 6.2%/year for 12-month term and 5.7%/year for 6-month term.
Online savings deposits often enjoy higher interest rates at the counter from 0.1 - 0.3 percentage points, depending on the bank.
Big 4 continues to maintain low interest rates
Major state-owned banks (Big 4) such as Agribank, BIDV, VietinBank and Vietcombank continue to maintain lower deposit interest rates than joint stock commercial banks:
Agribank: 3.7%/year for 6-month term; 4.8%/year for 12-month term.
BIDV and VietinBank: 3.3%/year for 6-month term; 4.7%/year for 12-month term.
Vietcombank: 2.9%/year for 6-month term; 4.6%/year for 12-month term.
Interest rate forecast
Deposits in banks will continue to increase sharply, reaching more than VND14 million billion in 2024 (up 4.9% compared to the beginning of the year). However, the capital mobilization rate is slower than credit growth, causing some small banks to continue to adjust interest rates to attract customers.
According to Vietcombank Securities Company (VCBS), deposit interest rates may increase slightly by 0.2 - 0.3 percentage points for medium and long-term terms at the end of 2024, then remain stable in 2025.
