Which bank offers the highest interest rate for savings accounts?

Savings interest rates have cooled down following the Governor's directive, but the overall level remains attractive, with some banks like HDBank and NCB offering 8-9% per year.

The number of banks running interest-bonding programs has decreased significantly compared to the previous month.

Following a meeting with the Governor in early April, banks indicated a consensus to lower interest rates to maintain a low level in support of the economy . The race for preferential interest rates has cooled down. Many banks subsequently stopped or gradually reduced preferential interest rates for savings depositors.

A survey conducted in May showed that the number of banks running interest-bonus programs decreased significantly compared to the previous month, and the level of incentives was also about 0.5% lower.

Currently, some banks such as HDBank , NCB, Vikki Bank... are still offering an 8-9% discount for customers depositing savings for a term of 6 months or more, provided the amount is in the tens or hundreds of millions of VND.

Meanwhile, the publicly listed interest rates of banks are also being adjusted continuously, with some institutions reducing them sharply by 1-2%.

More than a dozen banks have reduced interest rates, including VIB, VPBank, Sacombank,SHB , BVBank, Kienlongbank, VietABank, BIDV, Techcombank, TPBank, etc. Conversely, some banks have increased or adjusted rates in the opposite direction, depending on the term.

Currently, the highest listed interest rate in the system (for deposits of 1 billion VND or less) is nearly 8% per year. For the 12-month term, SHB and Sacombank lead the market with rates of 7.8% and 7.5% per year respectively. Several other institutions offer around 7% per year, such as MBV, UOB, VIB, PGBank, and LPBank.

Among state-owned banks, Vietcombank, BIDV, and Agribank list interest rates below 6%. The "giant" Vietinbank offers higher interest rates compared to the state-owned group, currently hovering around 6.8% per year. Foreign banks such as HSBC and Standard Chartered currently list the lowest rates in the market.

Interest rates for terms of 6 months or more are currently listed by banks with little difference and are significantly higher than short-term rates, which are subject to a ceiling of 4.75% per year. More than half of the banks in the system are pegging short-term interest rates of 1-3 months close to or at the ceiling.

Current interest rates at some banks.

According to bank leaders, the recent increase in interest rates is due to the "relatively tight" liquidity situation in the system. The application of new regulations on governance and capital adequacy ratios is also a contributing factor. The current high interest rate level, according to bankers, will persist for some time before potentially cooling down from the end of the second quarter of this year.

PV (compiled)

Source: https://baohaiphong.vn/gui-tiet-kiem-ngan-hang-nao-dang-lai-suat-cao-nhat-542710.html