Update interest rate 5.3, 12-month term which bank has the highest interest rate?

Illustration: Hai Nguyen.

Since the beginning of the year, BaoViet Bank has lowered interest rates 4 times.

According to Lao Dong, on March 5, Bao Viet Bank listed new online deposit interest rates. Since the beginning of 2024, this is the fourth time Bao Viet Bank has adjusted interest rates amid the trend of lowering interest rates of banks.

Compared to February, BaoViet Bank's new interest rates decreased by 0.2-0.3 percentage points for terms of 1-12 months. Specifically:

Interest rate for 1-month online deposits reduced from 3.5%/year to 3.3%/year.

3-month online deposit interest rate reduced from 3.85%/year to 3.55%/year.

6-month online deposit interest rate reduced from 4.8%/year to 4.6%/year.

Interest rate for 9-month online deposits decreased from 4.9%/year to 4.7%/year.

12-month online deposit interest rate reduced from 5.3%/year to 5.0%/year.

Interest rate for online deposits with terms of 18-36 months remains at 5.5%/year.

In addition, BaoViet Bank also applies an interest rate of 0.3%/year for short-term deposits of 7-21 days or no term.

BaoViet Bank's online deposit interest rates listed on March 5. Screenshot.

In addition, this bank also adjusted to lower savings interest rates for other forms of interest payment, specifically:

Receive quarterly interest at 4.55 - 5.45%/year.

Receive monthly interest at 3.24 - 5.42%/year.

Receive interest at the end of the term at 3.3-5.5%/year.

Deposit interest rates in other forms listed on March 5 by BaoViet Bank. Screenshot.

Which bank lists the highest interest rate for a 12-month term?

As of March 5, the market has recorded many banks listing deposit interest rates below 5%/year for 12-month terms. A few banks are currently keeping interest rates above 5%/year for this term such as:

The banks holding the highest interest rate ranking at 12-month term are VietBank and Nam A Bank, both holding the interest rate of 5.3%/year.

Following are 2 banks currently listing deposit interest rates of 5.1%/year for 12-month term, including NCB and Oceanbank.

The next highest interest rate for a 12-month term is 5.05%/year listed by CBBank.

The remaining banks currently maintain an interest rate of 5.0%/year with a 12-month deposit term including: BaoViet Bank,SHB , DongA Bank, Viet A Bank, Saigonbank.

The lowest interest rate in this term belongs to SCB at 4.05%/year.

Source: https://laodong.vn/kinh-doanh/cap-nhat-lai-suat-53-ky-han-12-thang-ngan-hang-nao-co-lai-suat-cao-nhat-1311333.ldo