Agribank reduces deposit interest rates to 1.6%/year

Vietnam Bank for Agriculture and Rural Development ( Agribank ) has recently adjusted down deposit interest rates for many terms.

Specifically, in the online mobilization interest rate table, Agribank reduced 0.1 percentage point for 1-month mobilization interest rate, from 1.7%/year to 1.6%/year, interest rate from 2%/year to 1.9%/year for 3-month term.

Similarly, for the interest rate at the 12-month and 13-month terms, the bank also reduced it by 0.1 percentage point to 4.7% per year. Meanwhile, the interest rate at the 24-month term decreased by 0.2 percentage point from 4.9% per year to 4.7%. The bank kept the interest rate at 3% per year for term deposits from 6 to 9 months.

Thus, after this adjustment, the 1-5 month savings interest rate at Agribank is the lowest among state-owned banks, 0.1% lower than Vietcombank and about 0.1-0.3% lower than VietinBank and BIDV depending on the term. The bank's 6-18 month interest rate is on par with Vietcombank and the lowest in the system.

On the same day, Asia Commercial Joint Stock Bank ( ACB ) also made a move to reduce deposit interest rates for 12-month deposits.

Accordingly, the bank has reduced the 12-month term deposit interest rate by 0.1 percentage point to 4.7%/year for savings deposits under VND200 million. Similarly, the 12-month term deposit interest rate for deposit accounts from VND200 million to under VND1 billion has also decreased by 0.1 percentage point to 4.8%/year.

The interest rate for a 12-month term for deposits from VND1 billion to under VND5 billion is 4.85%/year. The highest bank interest rate at ACB is currently 4.9%/year applied for a 12-month term for deposits from VND5 billion or more.

Interest rates for 1-month deposits are 2.5%/year, 2-month deposits are 2.6%/year, 3-month deposits are 2.8%/year, 6-month deposits are 3.7%/year, and 9-month deposits are 3.9%/year for deposit accounts under VND 200 million.

Interest rates will be added from 0.05-0.1% for different deposit levels. In particular, deposits from 5 billion VND currently have the highest interest rate at ACB. Accordingly, the bank interest rate for 1-month term is 2.7%/year, 2-month term is 2.8%/year, 3-month term is 3%/year, 6-month term is 3.9%/year and 9-month term is 4.1%/year.

Thus, since the beginning of March until now, a total of 14 banks have reduced deposit interest rates including: Dong A Bank, MB, BaoViet Bank, GPBank, Techcombank, NCB, ACB, Agribank, VPBank, PGBank, BVBank, PVCombank, KienLong Bank, Agribank .

Source: https://www.nguoiduatin.vn/agribank-giam-lai-suat-huy-dong-xuong-1-6-nam-a654267.html