Maritime Commercial Joint Stock Bank ( MSB ) has just changed its deposit interest rate policy. After reducing 0.2 percentage points of deposit interest rates for terms from 1 to 5 months and from 12 to 36 months at the end of February, this bank suddenly stopped listing special interest rates for super-rich depositors.

Accordingly, the highest deposit interest rate of up to 8%/year for a 13-month term and 7%/year for a 12-month term for savings accounts with a minimum balance of VND500 billion is no longer updated in MSB's interest rate policy.

Previously, MSB was one of the few banks listing special interest rates for a long time.

In addition, the bank also stopped listing the 6.3%/year interest rate for 12, 15 and 24-month terms for employees working at MSB and companies under TNG Group, customers receiving salaries through payment accounts opened at MSB and priority customers. This preferential interest rate policy will be applied by MSB from the beginning of December 2024.

However, MSB still maintains special interest rates for customers depositing savings at the counter, with an interest rate of 5.3%/year for a 6-month term (normal interest rate 5%/year) and 5.9%/year for a 12, 15 and 24-month term (normal interest rate 5.6%/year).

Besides MSB, Vikki Digital Bank (new name of Dong A Bank) has also just changed the conditions to enjoy special interest rates.

According to the old policy, customers with a deposit balance of 200 billion VND or more will enjoy an interest rate of up to 7.5%/year with a term of 13 months, receiving interest at the end of the term.

However, from March 12, the margin added to the amount at Vikki Bank applied to the 13-month term with interest paid at the end of the term with a balance of 999 billion VND or more is 1.8%/year, not applicable at the same time with other promotional programs.

With the current listed interest rate for a 13-month term of 5.7%/year, the special interest rate at Vikki Bank is still 7.5%/year. However, depositors need to have a minimum balance of VND999 billion, instead of VND200 billion as before.

Some banks are also maintaining special interest rate policies, including LPBank, ACB , HDBank and PVCombank.

In particular, PVCombank is listing the highest bank interest rate of 9%/year for 12 and 13 month terms, with the condition that customers have a minimum deposit balance of VND 2,000 billion.

PVcombank (18).jpg
The highest special interest rate at PVCombank is up to 9%/year. Photo: Tung Doan

HDBank also listed bank interest rates of 7.7%/year (12-month term) and 8.1%/year (13-month term) for customers depositing from 500 billion VND, receiving interest at the end of the term.

ACB lists a special interest rate of 6%/year for a 13-month term with interest paid at the end of the term when customers have a deposit balance of 200 billion VND or more (normal counter interest rate is 4.5%/year).

At LPBank , the highest interest rate at the counter is 5.5%/year. However, for deposits of 300 billion VND or more, the interest rate applied to customers receiving interest at the end of the term is 6.5%/year, receiving interest monthly is 6.3%/year and receiving interest at the beginning of the term is 6.07%/year.

The downward trend in deposit interest rates continued to spread to small banks , recorded at Vikki Bank, MVB and PGBank.

Accordingly, Vikki Bank reduced interest rates by 0.1-0.5 percentage points for terms from 1 to 15 months for online deposits and counter deposits.

Modern Vietnam Bank (MBV) has also just reduced 0.2 percentage points in interest rates for terms of 1-3 months and 18-36 months for online and counter deposits.

Accordingly, the highest online deposit interest rate of 6.1%/year at MBV is no longer available, replaced by 5.9%/year for 18-36 month terms.

Prosperity and Development Joint Stock Commercial Bank (PGBank) has also just reduced interest rates for the second time this month, with a 0.1 percentage point reduction in interest rates for 9, 12 and 13-month deposits.

Previously, PGBank reduced 0.2 percentage points of interest rates for 24 and 36-month terms on March 3.

Since the February 25 meeting between the State Bank of Vietnam and commercial banks on interest rates, 20 domestic commercial banks have reduced their deposit interest rates by 0.1-0.9 percentage points depending on the term. Since then, no bank has increased its deposit interest rates.

Since the beginning of March alone, 15 banks have reduced their deposit interest rates, including: PGBank, Viet A Bank, Kienlongbank, Bac A Bank, Eximbank, IVB, LPBank, Nam A Bank, NCB, SHB, VCBNeo, Hong Leong Vietnam, VIB, Vikki Bank, MBV. Of which, Eximbank and PGBank are the banks that have reduced their interest rates twice since the beginning of the month.

INTEREST RATES FOR ONLINE DEPOSITS AT BANKS ON MARCH 13, 2025 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.4 3 3.7 3.7 4.7 4.7
BIDV 2 2.3 3.3 3.3 4.7 4.7
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VIETCOMBANK 1.6 1.9 2.9 2.9 4.6 4.6
ABBANK 3.2 4 5.5 5.6 5.8 5.6
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.5 3.8 4.95 5.05 5.4 5.8
BAOVIETBANK 3.5 4.35 5.45 5.5 5.8 6
BVBANK 3.95 4.15 5.35 5.5 5.8 6
EXIMBANK 4.1 4.4 5.2 5.2 5.4 5.6
GPBANK 3.5 4.02 5.35 5.7 6.05 6.15
HDBANK 3.85 3.95 5.3 4.7 5.6 6.1
KIENLONGBANK 4.1 4.1 5.4 5.4 5.5 5.5
LPBANK 3.6 3.9 5.1 5.1 5.5 5.7
MB 3.7 4 4.6 4.6 5.1 5.1
MBV 4.1 4.4 5.5 5.6 5.8 5.9
MSB 3.9 3.9 5 5 5.6 5.6
NAM A BANK 4 4.2 4.9 5.2 5.5 5.6
NCB 4 4.2 5.35 5.45 5.6 5.6
OCB 4 4.2 5.2 5.2 5.3 5.5
PGBANK 3.4 3.8 5 4.9 5.4 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 5.6 5.8
SCB 1.6 1.9 2.9 2.9 3.7 3.9
SEABANK 2.95 3.45 3.95 4.15 4.7 5.45
SHB 3.5 3.8 4.9 5 5.3 5.5
TECHCOMBANK 3.25 3.55 3.55 4.55 4.75 4.75
TPBANK 3.5 3.8 4.8 4.9 5.2 5.5
VCBNEO 4.15 4.35 5.7 5.65 5.85 5.85
VIB 3.7 3.8 4.7 4.7 4.9 5.2
VIET A BANK 3.7 4 5.2 5.4 5.7 5.9
VIETBANK 4.1 4.4 5.4 5.4 5.8 5.9
VIKKI BANK 3.9 4.15 5.3 5.45 5.65 5.9
VPBANK 3.8 4 5 5 5.5 5.5