Eximbank reduces interest rates for the second time in February
Vietnam Export-Import Commercial Joint Stock Bank (Eximbank) has just continued to adjust interest rates down, focusing on long terms:
15-month term: Decrease by 0.1% to 6.1%/year.
18-month term: Decrease by 0.1% to 6.4%/year.
24 - 36 month term: Decrease by 0.1% to 6.5%/year.
This is the second time this month that Eximbank has reduced long-term deposit interest rates, after cutting 0.2% on February 7, 2025. Previously, in January, this bank increased interest rates twice, with the total increase reaching 1.6%/year for a term of 15 - 36 months.
Despite adjusting the long-term interest rate down, Eximbank still keeps the deposit interest rate unchanged for 1 - 12 months, at the following level:
1 month: 4.1%/year
2 months: 4.3%/year
3 months: 4.4%/year
4 - 5 months: 4.7%/year
6 - 9 months: 5.4%/year
12 months: 5.6%/year
This interest rate applies to customers depositing money online from Monday to Friday. Notably, the weekend interest rate at Eximbank has now been adjusted to the same as the days of the week.
Which bank has the highest 12-month term interest rate?
Although Eximbank has reduced long-term interest rates, this bank still holds the highest interest rate in the market for terms of 12 months or more.
List of banks with 12-month term interest rates from 6% or more:
MSB: 6.3%/year (highest 12-month term).
KienlongBank: 6.1%/year.
HDBank, MBV, DongA Bank: 6.1%/year.
BVBank, GPBank, Viet A Bank: 6.05%/year.
VCBNeo: 6%/year.
In addition, Indovina Bank also maintains 5.95%/year for this term.
Special savings interest rate from 7-9%/year
Some banks still maintain particularly high interest rates from 7-9%/year for customers depositing large sums of money:
PVcomBank: 9%/year (minimum VND 2,000 billion).
HDBank: 8.1%/year (minimum 500 billion VND).
MSB: 8%/year (minimum 500 billion VND).
Dong A Bank: 7.5%/year (minimum 200 billion VND).
Bac A Bank: 6.2%/year (minimum 1 billion VND).
Upcoming interest rate trends
According to KB Securities Vietnam (KBSV), the State Bank will continue to maintain a loose monetary policy to promote economic growth, with the forecast that deposit interest rates may increase slightly by 30 - 100 basis points (0.3 - 1 percentage point) depending on the banking group.
State-owned banking group (Vietcombank, BIDV, VietinBank, Agribank): Interest rates may increase by 30-50 basis points, but are still lower than private banks due to support from State Treasury deposits.
Joint Stock commercial bank group: Deposit interest rates may increase by 50-100 basis points, in which small banks will be under stronger pressure to increase due to the lack of advantages for non-term deposits (CASA).
Although long-term interest rates at some banks are decreasing, the general level remains high. Savings depositors can consider terms from 12 - 24 months to enjoy the best interest rate.
