Notably, Bank Techcombank continue to adjust interest rates today. This is the third consecutive day this bank adjusted interest rates at different terms.
This bank reduced interest rates by 0.1 percentage point for deposits with terms from 6-11 months.
Accordingly, the online deposit interest rate for newly opened savings accounts under 1 billion VND, 6-8 month term is 3.65%/year, 9-11 month term is 3.7%/year.
Previously, yesterday (February 19), Techcombank reduced the interest rate for deposits with terms from 12-36 months by 0.2 percentage points to 4.55%/year.
Mobilization interest rates at Techcombank increased by 0.05 percentage points for new deposit accounts from 1 billion VND to less than 3 billion VND and from 3 billion VND or more.
Accordingly, the highest deposit interest rate at this bank currently is 4.65%/year, applicable to deposits of 3 billion VND or more for a term of 12-36 months.
Besides Techcombank, Eximbank and GPBank, deposit interest rates at the remaining banks remained unchanged.
According to statistics from the beginning of February 2024, there have been up to 17 banks reducing deposit interest rates including: LPBank, Sacombank, NCB, Viet A Bank, SeABank, Techcombank, ACB, VIB, Eximbank, BVBank, KienLong Bank, ABBank, Bac A Bank, PGBank, Sacombank, Dong A Bank, GPBank.
Among them, VIB, Sacombank, NCB, Viet A Bank, Techcombank, Eximbank have reduced interest rates for the second time since the beginning of the month.
In the interbank market, the average interbank interest rate decreased sharply after the Lunar New Year holiday. Specifically, the interest rate at the overnight term (main term, accounting for about 90% of transaction value) in the February 15 session decreased to 1.31%, from 2.38% before the holiday.
Interest rates at two other key terms also plummeted: 1-week term decreased from 3.86% to 1.35%; 2-week term decreased from 3.89% to 1.82%.
The above developments are consistent with market rules as the seasonal factor has passed, this proves that liquidity in the banking system is still very abundant. Before the Lunar New Year, interbank interest rates increased sharply due to increased payment and payment needs near Tet.
HIGHEST DEPOSITS INTEREST RATE SCHEDULE AT BANKS ON FEBRUARY 20BANK1 MONTH3 MONTHS6 MONTHS9 MONTHS12 MONTHS18 MONTHSCBBANK4,24,35,15,25,45,5VIETBANK3,53,74,955,35,8HDBANK3,153,154,84,655,9PVCOMBANK2,852,854,84,84,95,2BAOVIETBANK3,53,854,84,95,35,5ABBANK33,24,74,34,34,4NCB3,63,84,654,755,25,7BVBANK3,653,754,654,84,955,65SHB2,93,34,64,855,2OCB33,24,64,74,95,4NAM A BANK2,93,44,64,95,45,8VIET A BANK3,13,44,54,555,3DONG A BANK3,53,54,54,755,2BAC A BANK33,24,54,64,95,3KIENLONGBANK3,53,54,54,74,95,4GPBANK2,63,124,454,64,654,75OCEANBANK3,13,34,44,65,15,5VPBANK3,13,34,44,455VIB2,93,24,34,35,2PGBANK3,13,54,24,44,95,1EXIMBANK2,83,14,14,15,15,2LPBANK2,62,744,155,6TPBANK2,8344,85SACOMBANK2,42,63,94,255,6SEABANK3,23,43,94,14,755MSB3,53,53,93,94,34,3SAIGONBANK2,52,73,94,155,4ACB2,93,23,94,24,8MB2,62,93,94,14,85,2TECHCOMBANK2,753,153,653,74,554,55BIDV22,33,33,34,84,8AGRIBANK1,723,23,24,84,8VIETINBANK1,92,23,23,24,84,8SCB1,752,053,053,054,754,75VIETCOMBANK1,72334,74,7