According to the recently announced online deposit interest rate table, Viet A Bank maintains the interest rate for 1-5 month term deposits at 4.5%/year.
For online deposit interest rates for terms of 6 - 36 months, Viet A Bank has adjusted down from 0.1 - 0.3 percentage points.
Currently, the interest rate for 6-8 month terms has decreased by 0.2 percentage points to 5.8%/year, and the interest rate for 9-11 month terms has decreased by 0.3 percentage points to 5.8%/year.
For 12-13 month terms, interest rates also decreased by 0.2 percentage points to 6.1%/year.
Interest rates for 15-18 month terms also decreased by 0.2 percentage points to 6.3%/year. Meanwhile, interest rates for 24-36 month terms decreased slightly by 0.1 percentage points to 6.4%/year.
Thus, Viet A Bank has reduced the interest rate on deposits with terms from 6 to 11 months to below 6%/year. However, this bank said that it can still apply interest rates different from the listed interest rate schedule for some customers.
According to statistics, there are currently only 4 banks maintaining deposit interest rates of 6% or higher (highest 6.4%/year), namely PVCombank, NCB, HDBank , and CBBank.
For the 9-month term, in addition to the above 4 banks , Bac A Bank is also maintaining a mobilization interest rate of 6% or higher (highest 6.4%/year).
For the 12-month term, there are some additional banks such as Viet A Bank, BaoViet Bank, OceanBank, SCB, SHB , VietBank, Dong A Bank, Sacombank, and LPBank. The highest interest rate for this term is 6.5%/year.
Since the beginning of October, 13 banks have reduced deposit interest rates, including: BaoViet Bank, Techcombank, SeABank, Viet A Bank, PG Bank, VietBank, Dong A Bank, Vietcombank, LPBank, Nam A Bank, CBBank, ACB and Bac A Bank.
Viet A Bank is the first bank to reduce interest rates twice this month. On the contrary, there is a bank that increased deposit interest rates, GPBank, on October 4.
| HIGHEST DEPOSITS INTEREST RATE TABLE ON OCTOBER 10 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| PVCOMBANK | 4.25 | 4.25 | 6.4 | 6.4 | 6.5 | 6.8 |
| NCB | 4.75 | 4.75 | 6.3 | 6.35 | 6.4 | 6.4 |
| HDBANK | 4.45 | 4.45 | 6.1 | 6.1 | 6.3 | 6.5 |
| CBBANK | 4.2 | 4.3 | 6 | 6.1 | 6.3 | 6.4 |
| BAC A BANK | 4.75 | 4.75 | 5.9 | 6 | 6.1 | 6.25 |
| VIET A BANK | 4.5 | 4.5 | 5.8 | 5.8 | 6.1 | 6.4 |
| BAOVIETBANK | 4.4 | 4.75 | 5.8 | 5.9 | 6.1 | 6.4 |
| OCEANBANK | 4.6 | 4.6 | 5.8 | 5.9 | 6.1 | 6.5 |
| SCB | 4.75 | 4.75 | 5.75 | 5.85 | 6.05 | 6.05 |
| BVBANK | 4.4 | 4.7 | 5.75 | 5.9 | 6.05 | 6.15 |
| SHB | 4 | 4.3 | 5.7 | 5.8 | 6.1 | 6.4 |
| SAIGONBANK | 3.6 | 4 | 5.7 | 5.7 | 5.9 | 5.9 |
| VIETBANK | 4.55 | 4.55 | 5.7 | 5.8 | 6 | 6.8 |
| DONG A BANK | 4.5 | 4.5 | 5.7 | 5.8 | 6.05 | 6.05 |
| VIB | 4.75 | 4.75 | 5.6 | 5.6 | 6.2 | |
| SACOMBANK | 3.7 | 3.9 | 5.5 | 5.8 | 6.2 | 6.4 |
| GPBANK | 4.25 | 4.25 | 5.45 | 5.55 | 5.65 | 5.75 |
| KIENLONGBANK | 4.75 | 4.75 | 5.4 | 5.6 | 5.7 | 6.4 |
| PG BANK | 4 | 4 | 5.3 | 5.3 | 5.4 | 6.2 |
| LPBANK | 4.15 | 4.35 | 5.3 | 5.4 | 6.1 | 6.8 |
| OCB | 4.1 | 4.25 | 5.3 | 5.4 | 5.5 | 5.9 |
| VPBANK | 4.1 | 4.15 | 5.2 | 5.2 | 5.5 | 5.1 |
| MB | 3.6 | 3.6 | 5.2 | 5.3 | 5.6 | 6.3 |
| EXIMBANK | 4 | 4 | 5.2 | 5.6 | 5.6 | 5.8 |
| NAMA BANK | 4.65 | 4.65 | 5.2 | 5.3 | 5.8 | 6.4 |
| ACB | 3.5 | 3.7 | 5 | 5.1 | 5.5 | |
| TPBANK | 3.8 | 4 | 5 | 5 | 5.55 | 6 |
| MSB | 3.8 | 3.8 | 5 | 5.4 | 5.5 | 5.5 |
| TECHCOMBANK | 3.55 | 3.75 | 4.95 | 5 | 5.35 | 5.35 |
| ABBANK | 3.7 | 3.9 | 4.9 | 4.9 | 4.7 | 4.4 |
| SEABANK | 4 | 4 | 4.8 | 4.95 | 5.1 | 5.1 |
| VIETINBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| AGRIBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| BIDV | 3.2 | 3.7 | 4.6 | 4.6 | 5.5 | 5.5 |
| VIETCOMBANK | 3 | 3.3 | 4.3 | 4.3 | 5.3 | 5.3 |
Last week, the State Bank continued to issue treasury bills, with a total issuance volume of VND46.9 trillion at a 28-day maturity. The bidding method was competitive interest rates, and the winning interest rate tended to increase gradually - ending the week at 1.3% (compared to 1.0% in the previous trading session). In addition, the SBV regularly bid on the 7-day term channel at the minimum level (VND1 trillion/day) and no winning bid volume was recorded. At the end of the week, the SBV net withdrew nearly VND46.9 trillion from the market, bringing the volume of treasury bills circulating in the market to VND140.7 trillion. Regarding interest rate developments in market 2, overnight interbank interest rates gradually increased to 1.3% and narrowed the gap with USD interest rates to only -380 basis points. In the latest report, the State Bank of Vietnam said that as of the end of September, credit growth reached 6.9% compared to the end of 2022 - higher than the initial estimate (6.1-6.2%) but still much lower than the same period (9 months of 2022: 11.1%). This acceleration may come from seasonal factors at the end of the quarter and the credit trend in October is an important point to see the effectiveness of lowering deposit/lending interest rates from commercial banks on credit demand. Regarding the exchange rate market, the USD/VND exchange rate increased slightly after cooling down in the previous week. The interbank exchange rate ended the week at 24,390 VND/USD, up 90 VND compared to the previous week. Vietcombank's listed exchange rate remained more stable, around 24,550 VND/USD. In contrast, the free exchange rate continued to have a week of strong fluctuations and narrowed the gap with the listed exchange rate. At the end of the week, the free exchange rate traded at 24,500 - 24,550 VND/USD (up 100 VND compared to the previous week). A notable factor recently is that the fluctuations of domestic and international gold prices are almost in opposite directions. The world gold price last week decreased by -0.8% while the domestic SJC gold price still tended to increase slightly (0.4%) and widened the gap between domestic and international SJC gold prices to nearly VND15 million/tael. This mainly comes from the limited domestic/imported gold supply and the State Bank of Vietnam has also signaled that it will soon amend Decree 24 on gold trading conditions in the near future. |
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