These 20 banks include: ABBank, ACB, Bac A Bank, BVBank, CB, Eximbank, NCB, GPBank, MB, HDBank, SHB , Sacombank, PGBank, SeABank, Techcombank, TPBank, Viet A Bank, VPBank, VietBank, VIB.

Of which, ABBank and VIB have increased interest rates 4 times since the beginning of the month. CB, SeABank, NCB, Techcombank, Bac A Bank , BVBank, PGBank, and HDBank are the banks that have increased interest rates twice.

On the contrary, VietBank is the bank that adjusted to reduce deposit interest rates for all terms, while MB reduced deposit interest rates for 12-month terms, VIB reduced deposit interest rates for 24 and 36-month terms, VPBank reduced interest rates for 24-36-month terms, and HDBank reduced interest rates for 15-18-month terms.

However, the interest rates of the above group of banks decreased by 0.1%/year, lower than the increase in deposit interest rates of these banks themselves.

W-SHB Bank_39 Nam Khanh.jpg
Deposit interest rates are quietly increasing again. Photo: Nam Khanh.

According to a survey by VietNamNet, the current highest interest rate (for individual customers depositing money online according to the regular interest rate schedule) is 6.1%/year. This interest rate is applied to 18-month term savings deposits at HDBank, or 36-month term deposits at OceanBank.

OceanBank and OCB are also maintaining the mobilization interest rate of 6%/year for terms of 24 and 36 months respectively.

The remaining banks all announced the highest interest rate under 6%. Specifically, the interest rate for 18-36 month term deposits at NCB is 5.9%/year. This is also the interest rate applied by SHB for 36-month term deposit accounts.

Meanwhile, the interest rate of 5.8%/year is being applied at OCB (24-month term), Saigonbank (36-month term), VietBank (24-36-month term).

If at the beginning of May no bank listed the 6-month term interest rate from 5%/year, up to now, Construction Bank (CB) has raised the interest rate for this term to 5.15%/year.

At the 9-month term, there are 3 banks that raised deposit interest rates to 5%/year or more, including: KienLong Bank (5%/year), NCB (5.05%/year) and CB (5.1%/year).

INTEREST RATES FOR DEPOSITS FROM 12 - 36 MONTHS AT BANKS ON JUNE 1, 2024 (%/YEAR)
BANK 12 MONTHS 18 MONTHS 24 MONTHS 36 MONTHS
AGRIBANK 4.7 4.7 4.7 4.7
BIDV 4.7 4.7 4.8 4.8
VIETINBANK 4.7 4.7 5 5
VIETCOMBANK 4.6 4.6 4.6 4.7
ABBANK 5.2 4.1 4.1 4.1
ACB 4.5 4.6
BAC A BANK 5.4 5.5 5.5 5.5
BAOVIETBANK 4.7 5.5 5.5 5.5
BVBANK 5.3 5.5 5.35
CBBANK 5.3 5.55 5.55 5.55
DONG A BANK 4.5 4.7 4.7 4.7
EXIMBANK 5 5.2 5.3 5.3
GPBANK 5.15 5.25 5.25 5.25
HDBANK 5.5 6.1 5.5 5.5
INDOVINA BANK 5.2 5.4 5.1 5.1
KIENLONGBANK 5.2 5.5 5.2 5.2
LPBANK 5 5.6 5.6 5.6
MB 4.8 4.7 5.7 5.7
MSB 4.5 4.5 4.5 4.5
NAM A BANK 5.1 5.5 5.5 5.5
NCB 5.4 5.9 5.9 5.9
OCB 4.9 5.4 5.8 6
OCEANBANK 5.4 5.9 6 6.1
PGBANK 5 5.2 5.4 5.4
PVCOMBANK 4.8 5.3 5.3 5.3
SACOMBANK 4.9 5.1 5.2 5.4
SAIGONBANK 5 5.6 5.7 5.8
SCB 3.7 3.9 3.9 3.9
SEABANK 4.45 5.5 5.5 5.5
SHB 5 5.3 5.6 5.9
TECHCOMBANK 4.65 4.65 4.65 4.65
TPBANK 4.9 5.3 5.7 5.7
VIB 4.9 5.1 5.1
VIET A BANK 5 5.3 5.4 5.4
VIETBANK 5.2 5.8 5.8 5.8
VPBANK 5 5 5.4 5.4

In addition to the normal interest rates, some banks apply a “special interest rate” policy with the highest interest rate up to 9.5%/year. However, this interest rate is not for the majority because it must meet extremely difficult conditions set by the bank.

HDBank is one of the banks that still maintains special interest rates for 12- and 13-month deposits, up to 7.7% and 8.1% per year, respectively.

The condition to enjoy this interest rate is that customers deposit 500 billion VND or more and receive interest at the end of the term.

Along with HDBank, some other banks also maintain special interest rate policies such as MSB, Dong A Bank, ACB, PVCombank,...

PVCombank is applying a "special interest rate" of up to 9.5%/year for customers depositing money for a term of 12-13 months, with a minimum deposit of VND2,000 billion.

Dong A Bank applies a "special interest rate" policy when depositing from 200 billion VND, 13-month term with interest rate of 7.5%/year.

The “special interest rate” at MSB is currently 7%/year (down 0.5 percentage points compared to early April), applied to 13-month term deposits and also with deposits from 500 billion VND.

The “special interest rate” at ACB is 5.6%/year for 13-month term deposits (normal interest rate is 4.4%/year).

In addition, some banks such as VPBank, Techcombank, SeABank, ACB are applying a ladder interest rate policy depending on the deposit amount, or by default adding interest to customers when depositing from 100 million VND.