Interest rates at banks continue to be adjusted downward.

Kienlong Commercial Joint Stock Bank (KienlongBank) has just adjusted the savings interest rate for the second time this month for terms under 6 months down by 0.2%. After this adjustment, the interest rate for terms under 6 months is 3.95%/year.

However, the interest rate for 18-36 month terms is up to 6.2%/year. When most banks have brought deposit interest rates below 6%/year, this is a rare deposit interest rate in the market above 6%.

Interest rate for 6-month term at KienlongBank is 5.4%/year, 9-month is 5.6%/year, 12 and 13-month is 5.7%/year, 15-month is 5.8%/year.

On the same day, Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) also adjusted down 0.1 percentage points for deposit interest rates for terms from 6-12 months and from 15-36 months.

Accordingly, the interest rate for 6-8 month deposits is 5.3%/year, 9-11 month deposits is 5.4%/year, 12 month deposits is 5.7%/year and 15-36 month deposits is 6.1%/year.

Previously, on December 19, Vietnam International Commercial Joint Stock Bank ( VIB ) also reduced interest rates for deposits with terms from 1-36 months.

Accordingly, in the latest online interest rate table, interest rates for 1-month and 2-5-month terms decreased by 0.2%/year to 3.6%/year and 3.7%/year, respectively. Interest rates for 6-36-month terms decreased by 0.1 percentage points.

Specifically, the interest rate for 6-11 month term deposits is only 4.9%/year; 15-18 month term is 5.3%/year, while 24-36 month term is 5.5%/year.

Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) also reduced deposit interest rates for the second time this month for some deposit terms from 6-12 months.

Accordingly, for online deposits under VND1 billion, the interest rate for 6-11 month term deposits at VPBank decreased by 0.3 percentage points to 4.5%/year; the interest rate for 12-month term decreased by 0.2 percentage points to 5.1%/year and the interest rate for 13-month term decreased by 0.1% to 5.2%/year.

Thus, since the beginning of the month, a total of 17 banks have reduced deposit interest rates: HDBank, Techcombank, Eximbank, KienLongBank, SCB, PGBank, MB, MSB, NamA Bank, ABBank, Vietcombank, BIDV , VIB, VPBank, TPBank, Saigonbank, VietBank .

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