As reported by VietNamNet , Vietnam Construction Commercial Joint Stock Bank (CB) recently reduced its deposit interest rate after more than 3 months of no adjustment.

CB is a bank that maintains deposit interest rates lower than the general level. However, this bank has just reduced deposit interest rates for terms of 6-36 months, while keeping the same terms of 1-5 months.

According to the online interest rate table, the 6-month term decreased by 0.05%/year to 5.5%/year. The bank interest rate for the 7-11 month term decreased by 0.1%/year to 5.45%/year. The bank interest rate for the 12-month term decreased by 0.05%/year to 5.65%/year, and the term of 13 months or more also decreased by 0.05%/year to 5.8%/year.

Meanwhile, online deposit interest rates for short terms remain unchanged. 1-2 month terms have an interest rate of 3.8%/year, 3-5 month terms have an interest rate of 4%/year.

Explaining the sudden reduction in deposit interest rates for terms of 6 months or more, CB said that from October 17, CB officially became a member of the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ). Accordingly, in order to be similar to the Vietcombank system in some policies and products, CB adjusted the deposit interest rate schedule for individual and institutional customers.

Previously, the State Bank announced the decision to compulsorily transfer CB to Vietombank and OceanBank to MB Bank.

The transfer is a major policy of the Government and the State Bank in its determination to stabilize the domestic financial and monetary market.

Although the deposit interest rate has been reduced to be “similar” to the Vietcombank system, in reality, CB’s mobilization interest rate is still much higher than Vietcombank’s mobilization interest rate table. The lowest and highest online savings interest rates at CB are 3.8%/year and 5.8%/year respectively, while these interest rates at Vietcombank are 1.6% and 4.7%/year.

Meanwhile, OceanBank, after being transferred to MB, has not yet adjusted its interest rates. Currently, this bank is still in the group of banks maintaining the highest deposit interest rates in the market, up to 6.1%/year.

ONLINE DEPOSITS INTEREST RATES ON NOVEMBER 1, 2024 AT CB - VCB AND OCEANBANK - MB (%/YEAR)
TERM CB VCB OCEANBANK MB
1 - 2 MONTHS 3.80 1.6 4.1 3.3
3 - 5 MONTHS 4 1.9 4.4 3.7
6 MONTHS 5.5 2.9 5.4 4.4
7 - 8 MONTHS 5.45 2.9 5.4 4.4
9 - 11 MONTHS 5.45 2.9 5.5 4.4
12 - 15 MONTHS 5.65 4.6 5.8 5.1
18 MONTHS 5.8 4.6 6.1 5
24 MONTHS 5.8 4.7 6.1 5.9
36 MONTHS 5.8 4.7 6.1 5.9

ONLINE DEPOSITS INTEREST RATES AT THE REMAINING BANKS ON NOVEMBER 1, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
ABBANK 3.2 3.9 5.3 5.5 5.9 6.2
ACB 3.1 3.5 4.2 4.3 4.9
AGRIBANK 2.2 2.7 3.2 3.2 4.7 4.7
BAC A BANK 3.95 4.25 5.4 5.5 5.8 6.15
BAOVIETBANK 3.3 4 5.2 5.4 5.8 6
BIDV 2 2.3 3.3 3.3 4.7 4.7
BVBANK 3.8 4 5.2 5.5 5.8 6
DONG A BANK 3.9 4.1 5.55 5.7 5.8 6.1
EXIMBANK 3.9 4.3 5.2 4.5 5.2 5.8
GPBANK 3.2 3.72 5.05 5.4 5.75 5.85
HDBANK 3.85 3.95 5.1 4.7 5.5 6.1
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.6 3.8 5 5 5.4 5.7
MSB 3.9 3.9 4.8 4.8 5.6 5.6
NAM A BANK 3.8 4.1 5 5.2 5.6 5.7
NCB 3.9 4.2 5.55 5.65 5.8 5.8
OCB 3.9 4.1 5.1 5.1 5.2 5.4
PGBANK 3.4 3.8 5 5 5.5 5.8
PVCOMBANK 3.3 3.6 4.5 4.7 5.1 5.8
SACOMBANK 3.3 3.6 4.9 4.9 5.4 5.6
SAIGONBANK 3.3 3.6 4.8 4.9 5.8 6
SEABANK 2.95 3.45 3.95 4.15 4.7 5.45
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.55 4.55 4.55 4.85 4.85
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.2 3.6 4.6 4.6 5.1
VIET A BANK 3.4 3.7 4.8 4.8 5.4 5.7
VIETBANK 3.8 4 5.2 5 5.6 5.9
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VPBANK 3.6 3.8 4.8 4.8 5.3 5.3