Early August, which bank has the best interest rate for you?

Since the beginning of July, many commercial banks in Vietnam have continued to adjust their deposit interest rates downward. According to the latest statistics from the Vietnam Banks Association (VNBA), the downward trend in interest rates is overwhelming compared to some slight increases in the middle of last month.

Many banks reduce interest rates on bank savings deposits

Some names such as BacABank,VIB or BAOVIET Bank have lowered interest rates from 0.1 to 0.2 percentage points for many different terms. This is considered a move in line with the general developments of the monetary market in the context of rapid credit recovery and interbank interest rates remaining stable.

Deposit interest rates have now decreased significantly compared to the beginning of the year. Specifically, for a 3-month term, the highest interest rate currently belongs to Eximbank at 4.5%/year.

For the 6-month term, Vietbank is leading with 5.4%/year, while NCB applies an interest rate of 5.45%/year for the 9-month term.

With a 12-month term, customers depositing at Vietbank can receive an interest rate of 5.8%/year, while BacABank is the bank listing the highest rate for a 24-month term at 5.85%/year.

Đầu tháng 8, gửi tiết kiệm ngân hàng nào lãi suất tốt nhất?- Ảnh 1. — Savings interest rates tend to cool down in July

However, the market still records some cases where banks list interest rates above 9%/year, but with very strict conditions. For example, ABBank is applying 9.65%/year, the highest in the market, but only for new or renewed deposits of VND 1,500 billion or more and with a fixed term of 13 months.

PvcomBank also offers a rate of 9%/year for a term of 12 to 13 months, but customers must deposit directly at the counter and the minimum amount is 2,000 billion VND.

Lending rates remain low

According to VNBA, in the first half of 2025, deposit interest rates had certain fluctuations but generally remained stable. Notably, by June, the average deposit interest rate had tended to decrease slightly by about 0.1 percentage points compared to the beginning of the year.

Many financial institutions assess that there is still room for further reduction in deposit interest rates in the third quarter of this year. The reason is that credit has accelerated since April while the banking system's liquidity is abundant and interbank interest rates are stable.

In the second half of the year macroeconomic update report, Vietcombank Securities Company (VCBS) stated that the State Bank will continue to maintain a stable interest rate management policy, while directing commercial banks to continue cutting costs and increasing the application of digital technology to create conditions for further lowering lending interest rates, thereby supporting the economy.

Mr. Nguyen The Minh, Director of Individual Customer Analysis at Yuanta Vietnam Securities Company, also said that although deposit interest rates may increase slightly in case of increased capital demand, lending interest rates will remain low. This is the Government's consistent direction to promote economic growth and support businesses in the context of recovery after many global fluctuations.