12-month term deposit interest rate from 6%/year
Currently, there are 5 banks officially listing 12-month deposit interest rates from 6%/year, including MSB, KienlongBank, BVBank, GPBank and VCBNeo.
MSB has the highest interest rate for this term, up to 6.3%/year, but only applies to customers receiving salaries through accounts at MSB. For other customers, the 12-month term interest rate at MSB is 5.8%/year.
MSB: 6.3%/year ( subject to the condition: incentives for individual customers receiving salaries through payment accounts opened at MSB, including employees of the bank and employees of TNG Group).
KienlongBank: 6.1%/year.
BVBank, GPBank: 6.05%/year.
VCBNeo: 6%/year.
In addition, Indovina Bank listed the 12-month term interest rate at 5.95%/year.
Interest rates of other banks for 12-month terms
5.8%/year: ABBank, BaoVietBank, DongA Bank, MBV, Saigonbank, Viet A Bank, VietBank.
5.7% - 5.6%/year: NCB (5.7%), Bac A Bank, Eximbank, HDBank, Nam A Bank (5.6%).
5.5% - 5.2%/year: LPBank, PGBank, SHB, VPBank (5.5%), Sacombank (5.4%), OCB (5.3%), TPBank (5.2%).
Below 5%/year: ACB (4.9%), Techcombank (4.85%).
Big 4 banking group (Vietcombank, VietinBank, BIDV, Agribank): 4.7%/year.
SCB lowest: 3.7%/year.
Special interest rate from 7% - 9%/year
Some banks apply high interest rates, but require large deposits:
PVcomBank: 9%/year (from VND 2,000 billion).
HDBank: 8.1%/year (from 500 billion VND).
MSB: 8%/year (from 500 billion VND).
Dong A Bank: 7.5%/year (from 200 billion VND).
Bac A Bank: 6.2%/year (from 1 billion VND).
Upcoming interest rate trends
According to MBS's analysis, the trend of increasing deposit interest rates has appeared since the second half of 2024 and will last until early 2025. In January 2025, 12 banks increased deposit interest rates, with an adjustment of 0.1 - 0.9 percentage points/year.
Private commercial banks are the leading group in raising interest rates, mainly to ensure capital for credit plans this year.
MBS's analysis team predicts that 12-month deposit interest rates at major commercial banks will fluctuate around 5 - 5.2% in 2025.
However, the State Bank has directed to keep deposit interest rates stable and continue to strive to reduce lending interest rates to support the economy. This will be an important factor affecting interest rate developments in the coming time.
