Which bank offers an interest rate of 7.2% per year?

(NLĐO) - The highest interest rate offered by banks for savings deposits with terms exceeding 24 months is 7.2% per year.

These are the latest figures on interest rate movements of credit institutions, just released by the State Bank of Vietnam.

Accordingly, the average interest rate on VND deposits at domestic commercial banks is 0.1-0.2% per year for demand deposits and deposits with maturities of less than 1 month; 3-3.8% per year for maturities from 1 to less than 6 months; and 4.4-5.1% per year for maturities from 6 to 12 months.

The highest interest rate is 6% per year for term deposits from over 12 months to 24 months; interest rates can reach 6.8-7.2% per year for terms over 24 months.

Meanwhile, the interest rate on USD deposits is 0% per year.

Savings interest rates have been rising recently.

Statistics from MBS Securities Company show that by the end of November 2024, the average 12-month interest rate of commercial banks was 5% per annum (0.14 percentage points higher than at the beginning of the year). Interest rates of state-owned commercial banks remained unchanged at 4.7%, 0.26 percentage points lower than at the beginning of the year. It is predicted that deposit interest rates will increase slightly by 0.2 percentage points, fluctuating around 5.1%-5.2% per annum.

According to observations by reporters from the Nguoi Lao Dong newspaper, savings deposit interest rates have continued to rise since the beginning of December. Many banks have adjusted their deposit interest rates upwards across various maturities. Some banks are offering long-term deposits exceeding 24 months, such as BVBank at 6.2%/year; Saigonbank at 6%/year; Oceanbank at 6.1%/year; and DongABank at 6.02%/year…

To enjoy an interest rate of 7.2% per year, customers must deposit a large sum of money for a long period and not withdraw it before maturity. For example, at MSB, for newly opened savings accounts or automatically renewed accounts with a deposit term of 13 months or more, deposits of 500 billion VND or more can earn an interest rate of up to 8% per year.

Interest rates for 12-month deposits at joint-stock banks remain around 5%.

At HDBank , in its latest deposit interest rate schedule, the bank states that the interest rate for a 12-month term with interest paid at maturity (Type 1) is up to 7.7% per year, applicable to deposits of 500 billion VND or more. If customers deposit savings for 13 months or more, with interest paid at maturity, they will receive an interest rate of 8.1% per year.

Another bank that applies an initial interest rate above 7%/year is DongABank. Customers will enjoy an interest rate of 7.5%/year when depositing savings for a 13-month term with interest paid at the end of the term, with an amount of 200 billion VND or more.

The highest interest rate currently recorded is up to 9.5% per year at PVCombank. To qualify for this exceptionally high rate, customers must deposit savings at the counter for a 12-month term, with a minimum amount of 2,000 billion VND, and receive interest at the end of the term.

Source: https://nld.com.vn/lai-suat-hom-nay-28-12-gui-ngan-hang-nao-huong-lai-72-nam-196241228095211229.htm