Specifically, the National Bank (NCB) is the first bank to announce a reduction in deposit interest rates during the working day immediately after the Lunar New Year holiday. This is also the second time NCB has reduced deposit interest rates since early February.
According to the online deposit interest rate table, 1-5 month terms decreased by 0.3 percentage points. The interest rate for 1-month term decreased to 3.6%/year, 2-month term decreased to 3.7%/year and 3-5 month term to 3.8%/year.
Deposit interest rates for terms from 6-11 months decreased by 0.2 percentage points. 6-8 month term reduced to 4.65%/year, 9-11 month term reduced to 6.75%/year.
Meanwhile, deposit interest rates for the remaining terms simultaneously decreased by 0.1 percentage points. 12-month term is 5.2%/year, 13-month term is 5.3%/year, 15-month term is 5.5%/year and 18-60 months is 5.7%/year.
Since the beginning of February 2024, up to 15 banks have reduced deposit interest rates, including: LPBank, Sacombank, NCB, Viet A Bank, SeABank, Techcombank, ACB, VIB, Eximbank, BVBank, KienLong Bank, ABBank, Bac A Bank, PGBank, Sacombank.
Among them, VIB, Sacombank, and NCB are the banks that have reduced interest rates for the second time since the beginning of the month.