HDBank, Nam A Bank reduce interest rates for the second time in October

Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank ) has just reduced deposit interest rates for the second time since the beginning of October.

According to HDBank's online deposit interest rate schedule for individual customers from October 18, bank interest rates for 1-5 month terms decreased by 0.2 percentage points to 4.05%/year.

The 6-month term bank interest rate also decreased by a similar amount to 5.7%/year, while the 7-11 month term deposit rate decreased by 0.3 percentage points to only 5.5%/year.

The 12-month bank interest rate was also adjusted down by 0.2 percentage points to 5.9%/year, officially falling below the 6% threshold for this term.

HDBank still maintains the 18-month term at 6.5%/year, which is also the term with the highest interest rate at this bank. Some deposit terms still have interest rates above 6% such as 13-month term at 6.1%/year, 15-month term at 6.4%/year and 24-36-month term at 6.3%/year.

Petrolimex Joint Stock Commercial Bank (PG Bank) has also just slightly adjusted down its deposit interest rates for some short terms. Accordingly, the interest rate for 1-3 month terms decreased by 0.2 percentage points to 3.8%/year.

With a similar reduction, the 6-month deposit interest rate at PG Bank has dropped to 5.1%/year. The interest rates for the remaining terms remain the same. The 9-month term has an interest rate of 5.3%/year, the 12-month term is 5.4%/year, the 18-month term is 6.2%/year and the 24-36-month term is 6.3%/year.

Also today, Nam A Commercial Joint Stock Bank (Nam A Bank) reduced interest rates for deposits with terms from 6 to 36 months by 0.1 to 0.3 percentage points depending on the term.

According to the online interest rate schedule for individual customers from October 18, the 6-8 month term is only 4.9%/year; the 5-11 month term is only 5.2%/year; the 12-17 month term is only 5.7%/year and the 18-36 month term is only 6.1%/year.

Since the beginning of October, 20 banks have reduced deposit interest rates, including: VietBank, SCB, VPBank, SHB , BIDV, VietinBank, HDBank, BaoViet Bank, Techcombank, SeABank, Viet A Bank, PG Bank, VietBank, Dong A Bank, Vietcombank, LPBank, Nam A Bank, CBBank, ACB and Bac A Bank.

Among them, PG Bank, Nam A Bank, HDBank, VietBank, LPBank, Viet A Bank and Bac A Bank are the banks that reduced interest rates twice this month. On the contrary, there was one bank that increased deposit interest rates, GPBank, on October 4.

After a series of consecutive issuances of treasury bills by the State Bank, the volume of treasury bills circulating in the market has reached VND205,700 billion - the highest level since 2014. Notably, VND30,000 billion of treasury bills will mature this week. This is the first amount of treasury bills issued in this issuance with a term of 28 days.

Overall, after a period affected by seasonal factors at the end of the quarter, system liquidity seems to have returned to a state of abundance, causing interbank interest rates to cool down rapidly. Overnight interbank interest rates fell to 0.35% at the end of last week.

HIGHEST DEPOSITS INTEREST RATE TABLE ON OCTOBER 18 (%/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
CBBANK	4.2	4.3	6	6.1	6.3	6.4
VIET A BANK	4.5	4.5	5.8	5.8	6.1	6.3
BAOVIETBANK	4.4	4.75	5.8	5.9	6.1	6.4
OCEANBANK	4.6	4.6	5.8	5.9	6.1	6.5
BAC A BANK	4.55	4.55	5.75	5.8	5.9	6.1
BVBANK	4.4	4.7	5.75	5.9	6.05	6.15
HDBANK	4.05	4.05	5.7	5.5	5.9	6.5
SAIGONBANK	3.6	4	5.7	5.7	5.9	5.9
DONG A BANK	4.5	4.5	5.7	5.8	6.05	6.05
VIETBANK	4.55	4.55	5.6	5.7	5.9	6.6
VIB	4.75	4.75	5.6	5.6		6.2
SHB	4	4.2	5.5	5.7	5.9	6.4
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
SCB	4.5	4.5	5.35	5.45	5.65	5.65
OCB	4.1	4.25	5.3	5.4	5.5	5.9
EXIMBANK	4	4	5.2	5.5	5.6	5.8
PG BANK	3.8	3.8	5.1	5.3	5.4	6.2
LPBANK	3.8	4	5.1	5.2	5.6	6.4
MB	3.5	3.8	5.1	5.2	5.4	6.1
VPBANK	3.9	3.95	5	5	5.3	5.1
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
TECHCOMBANK	3.55	3.75	4.95	5	5.35	5.35
NAMA BANK	4.65	4.65	4.9	5.2	5.7	6.1
ABBANK	3.7	3.9	4.9	4.9	4.7	4.4
SEABANK	4	4	4.8	4.95	5.1	5.1
AGRIBANK	3.4	3.85	4.7	4.7	5.5	5.5
VIETINBANK	3.4	3.75	4.6	4.6	5.3	5.3
BIDV	3.2	3.5	4.4	4.4	5.3	5.3
VIETCOMBANK	3	3.3	4.3	4.3	5.3	5.3