Unexpectedly, the price fluctuations reversed.

Interest rate fluctuations of 4.8: Unexpected and contradictory movements. Image design: Huyen Mai

The bank unexpectedly lowered interest rates.

According to Lao Dong newspaper, on August 4th, An Binh Commercial Joint Stock Bank (ABBank) unexpectedly reduced savings interest rates, lowering them by 0.2-0.3 percentage points across most online deposit terms.

ABBank's online deposit interest rate schedule has been updated as follows:

Interest rates for 1-month terms remain unchanged at 3.2% per annum.

Interest rates for 3-month terms decreased by 0.1 percentage point, to 4.0% per annum.

Interest rates for 6-month terms decreased by 0.3 percentage points, to 5.3% per annum.

Interest rates for 9-month terms decreased by 0.2 percentage points, to 5.5% per annum.

Interest rates for 12-month terms decreased by 0.2 percentage points, to 6.0% per annum.

Interest rates for 18-36 month terms remain unchanged at 5.7% per annum.

ABBank's online savings interest rate chart. Screenshot.

Despite a significant reduction in interest rates, ABBank remains the top-ranked bank with the highest interest rate for a 12-month term.

ABBank's over-the-counter deposit interest rates remain unchanged and are currently listed as follows:

The interest rate for a 1-month term is 3.0% per annum.

The interest rate for a 3-month term is 3.4% per annum.

The interest rate for a 6-month term is 4.6% per annum.

The interest rate for a 9-month term is 4.2% per annum.

The interest rate for a 12-month term is 5.4% per annum.

Interest rates for terms of 18-36 months are at 5.5% per annum.

Interest rate chart for savings accounts at the counter at ABBank. Screenshot.

Since the beginning of August, the market has seen seven banks increase interest rates, including: Eximbank,ACB , Agribank, Sacombank, Saigonbank, VietBank, and TPBank.

>>> See more information HERE.

Details of deposit interest rates at various banks, updated August 4, 2024.

Source: https://laodong.vn/kinh-doanh/bien-dong-lai-suat-48-bat-ngo-voi-bien-dong-trai-chieu-1375761.ldo