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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