Which bank has the highest interest rate now?
Banks have become "over-capitalized" in the context of the economy 's gloomy capital absorption capacity, slowing export orders and consumption.
In the face of a general downward trend in deposit interest rates in the market, some banks still offer attractive interest rate packages to attract large capital sources. Typically, PVcomBank applies a rate of 11%/year for a 12-13 month term - the highest rate in the market today. However, only customers who are able to maintain a minimum balance of VND2,000 billion will enjoy this interest rate.
Similarly, HDBank also applies a rate of 8.6%/year for a 13-month term, but customers must maintain a minimum balance of VND300 billion.
Thus, although the general trend is to reduce interest rates, banks still compete to attract large capital sources by offering high interest rate packages. However, the condition to enjoy these packages is to be able to deposit and maintain large amounts of money.
Statistics of banks with the highest savings interest rates today:
Speaking at the conference connecting banks and businesses in the Central Highlands region, Deputy Governor of the State Bank of Vietnam Dao Minh Tu emphasized that lending interest rates remain high because old loans have not been reduced. The decision on lending interest rates is the right of commercial banks. However, the Government 's directive is that banks must reduce interest rates on most types of loans.
The Deputy Governor asked banks to review interest rates on old loans to lower them and share the difficulties with businesses: "The State Bank will consider reducing interest rates when conditions permit to support customers." At the conference, many businesses hoped that lending interest rates would decrease further.
In terms of deposit interest rates, last week, Vietcombank marked its third consecutive interest rate reduction in just one month.
Previously, on September 14, this bank reduced interest rates by 0.3%. On October 3, the bank continued to reduce interest rates by 0.2%. The most recent time, the "big brother of the banking village" reduced interest rates by 0.2%. In total, Vietcombank reduced interest rates by 0.7% for all three times.
Specifically, Vietcombank reduced the 3-month term interest rate from 3.3%/year to 3.1%/year. The 6-month term decreased from 4.3%/year to 4.1%/year. The 12-month term, the interest rate decreased from 5.3%/year to 5.1%/year. The 24-month term, the interest rate decreased from 5.3%/year to 5.1%/year.
Vietcombank's current interest rate of 5.1% is the lowest in the bank's history, even lower than during the COVID-19 period.
Not only Vietcombank, but the wave of interest rate reduction is widespread in most banks. PVcomBank reduced interest rates for 3-month savings deposits from 4.25%/year to 3.95%/year; 6-month deposits from 5.9%/year to 5.6%/year; 12-month deposits remain at 11%/year; 24-month deposits from 6.3%/year to 6%/year.
SHB also reduced the interest rate for 3-month term from 4.3%/year to 4.1%/year; 6-month term from 5.7%/year to 5.4%/year; 12-month term from 6.1%/year to 5.8%/year; 24-month term from 6.4%/year to 6.3%/year.
BAC A BANK has reduced deposit interest rates for 3-month, 6-month, 12-month and 24-month terms from 4.75%, 5.9%, 6.1% and 6.25% to 4.55%, 5.75%, 5.9% and 6.1% respectively.
BAOVIET Bank adjusted the mobilization interest rate down with corresponding terms, specifically: 3-month term decreased from 4.75% to 4.75% (unchanged); 6-month term decreased from 6.1% to 5.8%; 12-month term decreased from 6.5% to 6.1%; 24-month term decreased from 6.5% to 6.4%.
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Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.
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