According to a reporter's survey, after a series of interest rate cuts by banks since the end of February, by May, the number of units reducing interest rates has gradually decreased.
Previously, in 2023 and 2024, commercial banks' deposit interest rates continuously increased to attract deposits. In 2025, in the first two months of the year, banks also started to increase interest rates.
However, as inflationary pressures are under control and monetary policy tends to loosen, banks have begun to reduce interest rates. This is assessed by securities companies to balance capital costs and promote credit growth.
This move came after the Prime Minister directed "hot" inspections and examinations of banks that have increased deposit interest rates in recent times. The head of the Government requested strict handling of violations and non-compliance with the directive. In particular, the Governor of the State Bank needs to consider and decide on the use of management tools on credit growth limits and license revocation according to regulations.
According to statistics from the State Bank, 30 units have reduced their deposit interest rates from 0.1 to 1.05%/year. However, in May, the reduction in deposit interest rates slowed down. Specifically, last month, only 4 banks adjusted their deposit interest rates down, including VPBank, MB, Eximbank and GPBank. In the previous April, only 9 banks reduced their interest rates, including VPBank, MB, Eximbank, Nam A Bank, OCB , VCBNeo, GPBank, Techcombank and VietABank.
There is only one bank that pays 6% interest per year for a 12-month term (Photo: Manh Quan).
With the main role in creating the interest rate level, 4 state-owned commercial banks including Agribank , Vietcombank, VietinBank, and BIDV are always the banks listing the lowest mobilization interest rates in the market today. These units list the highest interest rate at 5%/year, while the lowest interest rate is only 1.6%/year, even only 1.59%/year if customers choose to receive interest at the beginning of the period.
At private banks, the interest rate of 6%/year is very rare in the market. Vikki Bank (formerly DongA Bank) is the only bank that pays interest at this level for a 12-month term. At other banks, if you want to enjoy an interest rate of 6%/year, you only have to deposit for a longer term. The common interest rate for a 12-month term in this group is from 5.1% to 5.6%/year.
*Bank interest rate table (unit: %/year)
| Bank | 1 month | 3 months | 6 months | 12 months |
| Agribank | 2.4 | 3 | 3.7 | 4.8 |
| BIDV | 2 | 2.3 | 3.3 | 4.7 |
| VietinBank | 2 | 2.3 | 3.3 | 4.7 |
| Vietcombank | 1.6 | 1.9 | 2.9 | 4.6 |
| ABBank | 3.2 | 3.9 | 5.4 | 5.7 |
| ACB | 3.1 | 3.5 | 4.2 | 4.9 |
| LPBank | 3.6 | 3.9 | 5.1 | 5.4 |
| MB | 3.5 | 3.8 | 4.4 | 4.9 |
| SHB | 3.5 | 3.8 | 4.9 | 5.3 |
| TPBank | 3.5 | 3.8 | 4.8 | 5.2 |
"The current interest rate level has approached the short-term bottom, reflecting the State Bank's controlled loose monetary policy to support growth, while still ensuring exchange rate stability and controlling inflation," said financial expert Nguyen Quang Huy.
“However, if credit recovers strongly in the second half of the year, or exchange rate pressure increases due to the US Federal Reserve (Fed) delaying interest rate cuts, savings interest rates may be adjusted up slightly from the fourth quarter to balance currency supply and demand,” he said.
Associate Professor Dr. Nguyen Huu Huan, lecturer at Ho Chi Minh City University of Economics, said that deposit interest rates are low and will continue to remain low from now until the end of the year.
"The stock market is still green on the outside and red on the inside. The real estate market is recovering but slowly. In the current context, people tend to tighten their belts, choosing to deposit money in the safest bank and waiting for more investment opportunities in other channels," said Mr. Huan.
Source: https://dantri.com.vn/kinh-doanh/gui-tien-ngan-hang-nao-nhan-lai-suat-cao-nhat-thang-6-20250601003214422.htm
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