23 commercial banks reduce interest rates since February 25

According to statistics from the State Bank, 23 banks have adjusted interest rates after urgent instructions from management agencies, and it has also been recorded that banks have reduced interest rates up to 6 times.

Specifically, from February 25, 2025 to March 18, 2025, domestic commercial banks (CBs) after adjusting interest rates down include KienlongBank, Bac A Bank, Vietbank, VietABank, PGbank, LPBank, NCB,SHB , Nam A Bank, VIB, VCBNeo, Eximbank, BIDV, Techcombank, Vikki, MBV, OCB, Vietinbank, ABBank, Saigonbank, BaoViet Bank.

In addition to reducing interest rates for regular terms, some banks have reduced interest rates for some special terms. For example, from February 28, 2025 to March 6, 2025,VIB counter deposits will be reduced by 0.1%/year for terms of 6-11 months for customers with deposit balances from 10 to under 300 million and reduced by 0.1%/year for terms from 1-36 months for customers with balances from 300 million or more; reduced by 0.1%/year for idepo deposits from 1 billion or more. For online deposits, VIB will reduce by 0.1-0.2%/year for deposits with terms from 1-36 months and iDepo deposits.

Banks actively adjust interest rates down as directed

Interest rate reductions at some other banks are as follows: on February 25, 2025, at BVbank, for counter deposits, the rate decreased by 0.1-0.4%/year for terms from 6 to 60 months. For online deposits, the rate decreased by 0.1%/year for terms of 6-8 months, decreased by 0.25% for terms of 9-12 months, decreased by 0.35%/year for terms of 15,18 months, and decreased by 0.4%/year for terms of 24 months.

Also on February 25, 2025, MSB reduced 0.2%/year for terms from 13-36 months at the counter. For online deposits, the bank reduced 0.2%/year for terms from 1-5 months and 12-36 months.

On February 26, 2025, Vietbank adjusted the interest rate for counter deposits to decrease by 0.2%/year for terms from 1-4 and 12 months; decrease by 0.3%/year for terms from 5-9 months. For online deposits, Vietbank reduced by 0.1-0.4% for terms from 4-5 months, decrease by 0.2%/year for terms from 1 and 3 months and 0.4% for terms from 2 months.

On February 27, 2025, SaiGonBank reduced 0.2%/year for terms from 12-36 months for counter deposits, online deposits and payment deposits of individual customers.

On February 28, 2024, BaovietBank reduced 0.1%/year for 12,13 month terms, reduced 0.2%/year for 15 month terms and reduced 0.3%/year for 18-36 month terms for counter deposits.

From February 26 to March 14, 2025, KienlongBank recorded 3 reductions, for online deposits, it decreased by 0.4-1%/year for terms of 1-60 months. For deposits at KienlongBank counters, it decreased by 0.2-0.3%/year for terms of 13-60 months.

On March 1, 2025, Bac A Bank reduced 0.1%/year for terms from 1-11 months and reduced 0.2%/year for terms from 12-36 months for counter deposits.

On March 3, 2025, VietABank reduced 0.1%/year for terms from 12-36 months for online and counter deposits.

On March 3, 2025, LPbank adjusted for counter deposits in the form of savings deposits, Diamond, Gold, Ruby membership programs: reduced by 0.1%/year for terms from 1-60 months. LPBank also adjusted for online deposits to reduce by 0.1%/year for terms from 18-60 months.

From March 3-12, 2025, PGbank reduced the interest rate twice. Specifically, it reduced the interest rate by 0.2%/year for 24 and 36-month terms (first time on March 3) and reduced the interest rate by 0.1%/year for 9, 12, and 13-month terms (second time on March 12).

On March 5, 2025, NCB reduced 0.1%/year for terms from 1-60 months both online and at the counter.

On the same day, March 5, SHB reduced 0.1%/year for terms from 6-11, 13, 15 months; reduced 0.2%/year for terms of 12, 18 months, reduced 0.3%/year for terms of 24, 36 months for deposits at the counter and online.

Similarly, Nam A Bank adjusted the online deposit rate down by 0.3%/year for terms of 1 and 3-5 months, down by 0.4%/year for terms of 2 months and down by 0.1%/year for terms of 6-36 months. For deposits at Nam A Bank counters, the rate is down by 0.1%/year for terms of 1 month and down by 0.2%/year for terms of 2-5 months.

On March 6, 2025, VCBNeo reduces 0.15%/year for terms of 6 months or more for all deposit products, savings deposits at the counter and online.

From February 25 to March 14, 2025, Eximbank reduced interest rates 6 times for a number of programs. For deposits at the counter: The "Long-term deposit with peace of mind" program reduced interest rates by 0.6-0.8%/year for terms of 15-36 months; Savings deposits reduced by 0.1-0.2%/year for terms of 12-24 months for regular customers and reduced by 0.2%/year for terms of 6-12 months for customers over 50 years old. For online deposits, Eximbank adjusted Term Deposits to reduce by 0.1%/year for terms under 6 months and by 0.2-0.8% for terms from 6-36 months.

On March 10, 2025, BIDV reduced 0.1%/year for terms from 1 to less than 6 months.

On the same day, March 10, 2025, Techcombank reduced from 0.1-0.2%/year, specifically: Regular savings deposit products: reduced by 0.15%/year for a term of 1-36 months for regular customers and Insprite customers, 0.2%/year for a term of 1-5 months for Priority customers and Private customers and 0.15% for a term of 6-36 months for Priority customers and Private customers.

Techcombank adjusts online deposit products (all types of customers), counter savings, online savings, flexible principal withdrawal deposits of regular customers and Private customers with deposits from 3 billion or more: reduce 0.1%/year for terms from 1-36 months.

Techcombank adjusts the savings products of Phat Loc at the counter, Phat Loc online, flexible principal withdrawal deposits of Inspirit, Priority customers and Private customers with deposits under 3 billion: reduce 0.15%/year for terms from 1-36 months.

On March 12, 2025, MBV reduced 0.2%/year for terms from 1-3 and 18-36 months for online deposits and counter deposits. On the same day, Vikki Bank reduced 0.1-0.5%/year for terms from 1 to 15 months for online deposits and counter deposits.

On March 14, 2025, Vietinbank reduced 0.1%/year for terms from 1 to under 6 months. On the same day, OCB reduced from 0.05-0.25%/year for online deposits with terms from 1-11 months for customers with balances of 100 million or more, and reduced 0.1-0.25%/year for online deposits with terms from 1-11 months for customers with balances of 100 million or more.

On March 15, 2025, ABBank reduced 0.1%/year interest rates for terms from 2-60 months.