Interest rates on December 12: PGBank drastically increases rates by 1.6%/year, causing market turmoil.

As of December 12th, 14 banks had increased deposit interest rates. PGBank led the way with an increase of up to 1.6% per year, bringing long-term interest rates to 6.7% per year amidst year-end capital pressure.

The deposit interest rate market witnessed a large-scale adjustment on December 12, 2025, as a series of commercial banks simultaneously increased interest rates. This development indicates increasing pressure to raise capital at the end of the year, in order to meet the demand for credit recovery and strengthen liquidity for the first quarter of 2026.

Deposit interest rates at many banks are trending upwards again towards the end of the year.

PGBank leads the interest rate hike.

PGBank attracted the most attention with significant increases across many maturities. Specifically, the adjustments are as follows:

• For terms of 1–3 months: Interest rates increased from 0.95% to 1.35% per year, reaching 4.75% per year.
• 6-month and 9-month terms: Increased by 1.5% and 1.6% per year respectively, to 6.5% per year.
• For terms of 12–13 months: Increased by 1.2% per year, to 6.6% per year.
• For terms of 18–36 months: Increased by 1% per year, reaching 6.7% per year.

With this adjustment, PGBank has established a new, significantly more competitive interest rate level compared to smaller banks.

Many major banks are getting involved.

Not to be left out of the race, major banks also made significant adjustments. Sacombank continued to increase interest rates by 0.3% to 0.55% per year for most terms. After the change, the interest rate for a 1-month term reached 4.6% per year, the 2-5 month term reached the ceiling of 4.75% per year, and the 18-36 month group reached 6% per year.

Similarly, SHB also increased interest rates across its entire interest rate table by 0.2% to 0.4% per year. The new rates include 4.2% per year for 1-2 month terms, 5.6% per year for 6-11 month terms, and 6.2% per year for 36-month terms, helping SHB strengthen its competitive position in medium and long-term maturities.

Smaller banks and online channels

The wave of interest rate increases has also spread to smaller banks and online savings channels. KienlongBank increased rates by 0.1–0.2% per year for 6–12 month terms. Meanwhile, NCB significantly raised rates by 0.35–0.6% per year for 9–36 month terms, bringing the common interest rate to around 6.2–6.3% per year.

OCB also simultaneously increased interest rates by 0.1–0.5% per year depending on the term and deposit balance. Notably, customers depositing over 500 million VND can enjoy a maximum interest rate of up to 6.6% per year for a 36-month term.

Analyzing trends and specific interest rate levels.

Since the beginning of December, 14 banks have increased deposit interest rates, with Techcombank and NCB adjusting them twice. This indicates a very high demand for capital at the end of the year.

In addition, special interest rates ranging from 6.5% to 9% per year are still available, but they come with strict conditions. For example, PVcomBank applies a rate of 9% per year for a 12-13 month term with a minimum balance of 2,000 billion VND. However, many banks such as Vikki Bank, Cake by VPBank, and BVBank still list rates above 6% per year without requiring a high deposit amount.

Analysts predict that deposit interest rates may continue their slight upward trend in the second half of December before stabilizing again at the beginning of 2026.

Source: https://baolamdong.vn/lai-suat-1212-pgbank-tang-soc-16nam-thi-truong-day-song-409871.html