No bank adjusted deposit interest rates on October 6.
Yesterday (October 5), Viet A Bank and PG Bank reduced deposit interest rates, bringing the total number of banks reducing deposit interest rates to 10, along with VietBank, Dong A Bank, Vietcombank, LPBank, Nam A Bank, CBBank, ACB and Bac A Bank.
Currently, the highest 6-month online banking interest rates belong to PVCombank (6.4%/year), NCB (6.3%/year), HDBank and BaoViet Bank (6.1%/year), VietA Bank and CBBank (6%/year).
Apart from the few banks mentioned above, the interest rate of 6-month savings deposits at the remaining banks are all below 6%/year. Some banks even list the interest rate of 6-9 months below 5% such as: ABBank (4.7%/year) and the Big4 group of banks including Agribank , Vietcombank, VietinBank, and BIDV (4.3 - 4.7%/year).
Among the current commercial banks, PVCombank is also the bank that lists the highest online deposit interest rate for terms over 6 months. The 9-month deposit interest rate at this bank is currently 6.5%/year, while at NCB and BaoViet Bank it is 6.35% and 6.3%/year, respectively.
A few banks are listing interest rates at 6%/year and above 6%/year including: HDBank, Viet A Bank, CBBank (6.1%/year) and Bac A Bank (6%/year).
Similarly, the above group of banks is also leading the market in terms of 12-month online deposit interest rates. Of which, the interest rates announced by PVCombank and BaoVietBank are 6.5%/year; NCB 6.4%/year; HDBank, CBBank, VietA Bank are 6.3%/year.
With bank interest rates at record lows for savings deposits, banks are giving more priority to long-term deposits.
This can be clearly seen through the interest rate table of banks. While there are very few banks listing interest rates above 6%/year for term deposits from 6 to 12 months, the number of banks maintaining interest rates above 6%/year (the highest is 6.8%/year) for term deposits from 18 to 36 months is still overwhelming.
According to statistics, there are currently 17 banks applying interest rates from 6%/year for 18-month term deposits. In which, the highest rate is 6.8%/year, which is being applied by PVCombank, VietBank and LPBank.
In the interbank market, according to the latest data released by the State Bank, the average overnight interbank interest rate in the session on October 5 increased to 0.55%, from 0.19% recorded in the session on September 29.
In addition, interest rates for other key terms also tended to increase: 1-week term increased to 0.73%; 2-week term increased to 0.81%; while 1-month term decreased from 1.52% to 1.3%.
In theory, an increase in interbank interest rates means that banks may increase lending rates to compensate for the increase in interbank interest rates. However, fluctuations in interbank interest rates are only temporary. The State Bank will base its daily announcement on data provided by banks.
| HIGHEST DEPOSITS INTEREST RATE TABLE ON OCTOBER 6 (%/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 |
| BAOVIETBANK | 4.4 | 4.75 | 6.1 | 6.3 | 6.5 | 6.5 |
| VIET A BANK | 4.5 | 4.5 | 6 | 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 |
| 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 | 6.3 |
| 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 |
| SEABANK | 4.5 | 4.5 | 5.2 | 5.35 | 5.5 | 5.5 |
| EXIMBANK | 4 | 4 | 5.2 | 5.5 | 5.6 | 5.8 |
| NAMA BANK | 4.65 | 4.65 | 5.2 | 5.3 | 5.8 | 6.4 |
| TECHCOMBANK | 3.65 | 3.85 | 5.15 | 5.2 | 5.45 | 5.45 |
| 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 |
| ABBANK | 3.7 | 3.9 | 4.9 | 4.9 | 4.7 | 4.4 |
| 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 |
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