In contrast, VietinBank and Vietcombank are the two banks with the lowest listed interest rates for 6-9 month terms, only 3%/year.
The 9-month bank interest rate has also been brought to below 5%/year by banks. The current highest rate is 4.8%/year being applied by Nam A Bank and VietBank. Next are OCB (4.7%/year), NCB (4.65%/year), OceanBank and KienLong Bank (4.6%/year).
VietBank and Nam A Bank are also leading the market in terms of 12 – 18 month savings interest rates.
For the 12-month term, these two banks are listing an interest rate of 5.3%/year, followed by OceanBank (5.1%/year). The group of banks NCB, Viet A Bank, Sacombank, LPBank, and Saigonbank are listing interest rates of 5%/year. The remaining banks are all listing interest rates below 5%/year for 12-month terms.
The highest interest rate for 18-month term deposits is currently 5.8%/year listed by VietBank. The interest rate for this term at Nam A Bank and HDBank is 5.7%/year. Following behind are Sacombank, LPBank, and Saigonbank (5.6%/year).
Notably, not big 4 banks, joint stock commercial banks are the ones paying the lowest interest rates for long-term deposits.
Of which, the 18-month term deposit interest rate at SCB is only 4.05%/year, VPBank and MSB 4.3%/year, ABBank 4.4%/year, and Techcombank (4.55%/year).
Since the beginning of March, 17 commercial banks have reduced deposit interest rates, including: PGBank, BVBank, BaoViet Bank, GPBank, ACB, Agribank, VPBank, PVCombank, Dong A Bank, MB, Techcombank, NCB, KienLong Bank, Agribank , SCB, Saigonbank, BIDV.
Among them, BaoViet Bank, GPBank, BVBank, PGBank have reduced deposit interest rates twice since the beginning of the month.
HIGHEST DEPOSITS INTEREST RATE SCHEDULE AS OF MARCH 20 (%/year)BANK1 MONTH3 MONTHS6 MONTHS9 MONTHS12 MONTHS18 MONTHSVIETBANK3,13,54,64,85,35,8NAM A BANK2,93,44,54,85,35,7HDBANK2,952,954,64,44,85,7SACOMBANK2,62,93,94,255,6LPBANK2,62,744,155,6SAIGONBANK2,32,53,84,155,6OCEANBANK3,13,34,44,65,15,5NCB3,33,54,554,6555,5BVBANK33,24,24,54,85,5BAOVIETBANK33,254,34,44,75,5OCB33,24,64,74,95,4VIET A BANK3,13,44,54,555,3KIENLONGBANK334,24,64,85,3EXIMBANK2,83,13,93,94,95,1SHB2,634,24,44,85,1PVCOMBANK2,852,854,34,34,85,1BAC A BANK2,834,24,34,65,1DONG A BANK3,33,34,34,54,85TPBANK2,8344,85CBBANK3,63,84,54,454,654,9VIB2,734,14,14,9VIETINBANK1,92,23,23,24,84,8PGBANK2,63444,34,8SEABANK2,93,13,73,94,254,8GPBANK2,32,823,954,24,654,75BIDV1,82,13,13,14,74,7VIETCOMBANK1,72334,74,7AGRIBANK1,61,9334,74,7MB2,22,63,63,74,64,7TECHCOMBANK2,452,553,653,74,554,55ABBANK33,24,74,34,34,4VPBANK2,32,5444,34,3MSB3,53,53,93,94,34,3SCB1,651,953,053,054,054,05ACB2,52,83,73,94,7