Interest rate increases slow down
LPBank's mobilization interest rates have just been adjusted down in many terms. Accordingly, the online mobilization interest rate, term 1-5 months decreased by 0.3%/year. After adjustment, the interest rate for term 1-2 months is 3.6%/year, term 3-5 months is 3.8%/year. Interest rates for term 6-60 months are all reduced by 0.2%/year. After the reduction, the interest rate for term 6-11 months is 5%/year, 12-16 months is 5.4%/year, 18-60 months is 5.7%/year.
Thus, since the beginning of October, 6 banks have reduced deposit interest rates, including: Agribank, Techcombank, NCB, VPBank, CB and LPBank. On the contrary, 8 banks have increased interest rates, including: NCB, Agribank, Techcombank, MSB, LPBank, Eximbank, ABBank and Bac A Bank.
Compared to September, the number of banks increasing deposit interest rates in October has decreased sharply, while the number of banks reducing interest rates has increased.
In September, the market recorded 12 banks increasing interest rates, including: Nam A Bank, PGBank, ACB, BVBank, NCB, Agribank, GPBank, VietBank, OceanBank and Dong A Bank, Bac A Bank and OCB. Of which, OceanBank increased interest rates for the second time this month. Meanwhile, in September, only ABBank reduced deposit interest rates, the reduction was from 0.1-0.4%/year for terms of 1-12 months.
Special interest rate highest 7-9.5%
In the market, the interest rate of many banks listed exceeds 7%/year. However, to receive this interest rate, special conditions must be met.
PVcomBank is currently leading in special interest rates when customers deposit money at the counter, with 9.5% for a term of 12-13 months. However, the condition to receive this interest rate is that customers must have a minimum deposit balance of VND 2,000 billion.
Next is HDBank with a particularly high interest rate, up to 8.1%/year for a 13-month term and 7.7% for a 12-month term, with a minimum balance of VND500 billion. This bank also applies a 6% interest rate for an 18-month term.
MSB applies interest rates for deposits at the counter up to 8%/year for a 13-month term and 7% for a 12-month term. The applicable conditions are that the savings book is newly opened or the savings book is opened from January 1, 2018, automatically renewed with a term of 12 months, 13 months and the deposit amount is from 500 billion VND.
Dong A Bank has a term deposit interest rate of 13 months or more, the final interest rate for deposits of 200 billion VND or more applies an interest rate of 7.5%/year. This bank also applies an interest rate of 6.1% for a term of 24 months.
Bac A Bank applies an interest rate of 6.35% for a 24-month term, applicable to deposits over 1 billion VND. In addition, an interest rate of over 6%/year is also being listed by some banks for long-term deposits but without a minimum deposit requirement.
Currently, Cake by VPBank applies an interest rate of 6.1% for a 12-month term; OceanBank applies an interest rate of 6.1% for a 24-month term; ABBank applies an interest rate of 6.3% for a 24-month term.
BVBank and Cake by VPBank also apply an interest rate of 6% for 24-month and 12-month terms; VRB and Dong A Bank apply an interest rate of 6% for 24-month terms; SaigonBank applies an interest rate of 6% for 13, 18 and 24-month terms, and 6.1% for 36-month terms.
Statistics of banks with the highest savings interest rates today:
Compare highest bank interest rates for 3-month term
Interest rates on 6-month savings deposits at banks
Want to save for 12 months, which bank has the highest interest rate?
Latest update of Agribank interest rates, Sacombank interest rates, SCB interest rates, Vietcombank interest rates... highest for 24-month term.
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.
