Interest rate fluctuation 17.3, surprise with the bank with the lowest interest rate for 12-month term

According to Lao Dong on March 17, no bank had any changes in savings interest rates.

According to statistics, after Agribank adjusted interest rates on March 15, the current "champion" of interest rates for short terms from 1 to 9 months is still a bank in the Big4 banking group.

However, considering the 12-month term, currently SCB - a bank under "special control" of the State Bank, has the lowest interest rate in the system, with a listed interest rate of 4.05%/year.

This is one of the banks with the fewest interest rate cuts, but the most substantial reduction, losing 0.57 percentage points after one reduction in 2024.

The champions for the 12-month term are VietBank and Nam A Bank with the same interest rate of 5.3%/year.

In the Big4 group, the interest rates for this term are: Vietcombank, Agribank (4.7%/year) and BIDV , VietinBank (4.8%/year).

Currently, the State Bank is listing the ceiling interest rate (maximum) for term deposits from 1 month to less than 6 months plus preferential interest rate policy/promotion program not exceeding 4.75%/year. Therefore, this interest rate has disappeared from the interest rate tables of banks.

Even 6%/year interest rates are rare in other terms.

Since the beginning of March, 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.

Of which, BaoViet Bank, GPBank, BVBank, PGBank have reduced deposit interest rates twice since the beginning of the month.

Besides reducing deposit interest rates, many banks have launched special interest rate packages to attract customers with large deposits.

For example, PVcombank has an interest rate of 10%/year for customers with a deposit balance of more than 2,000 billion VND for a 13-month term.

MSB listed an interest rate of 9%/year for customers with a deposit balance of more than 500 billion VND for the same term.

Similarly, depositing more than 300 billion VND for a 13-month term at HDBank will receive an interest rate of 8.1%/year.

Source