This is the first time since early August that the deposit interest rate market has gone through two consecutive days without any fluctuations in interest rates.

Since the beginning of August, 15 banks have increased interest rates, of which 4 banks increased interest rates twice in a month.

However, interest rates at state-owned commercial banks ( Agribank , BIDV, Vietcombank, and VietinBank) have remained unchanged since the beginning of the month.

After SCB, the mobilization interest rate at the Big 4 banks is currently the lowest in the market. In particular, the mobilization interest rate at Vietcombank is at a low level.

The online deposit interest rate for a 1-2 month term is listed by Vietcombank at only 1.6%/year, while the 3-5 month term is 1.9%/year.

Vietcombank listed the savings interest rate for 6-11 month terms at only 2.9%/year, 12-13 month terms at 4.6%/year, and 24 month terms at 4.7%/year.

At Agribank, online deposit interest rates for 1-2 month terms are 1.8%/year, and 3-5 month terms are 2.2%/year.

Agribank stipulates online deposit interest rates for 6-9 month terms at 3.2%/year, 12-18 month terms at 4.7%/year, and 24 month terms at 4.8%/year.

At BIDV , online deposit interest rates for terms of 1-2 months are 2%/year, 3-5 months are 2.3%/year, and 6-11 months are 3.3%/year.

BIDV pays online deposit interest rates for 12-18 month terms at 4.7%/year, 24-36 month terms at 4.9%/year.

The remaining bank in the big4 group, VietinBank, currently maintains the same online deposit interest rate for 1-18 month terms as BIDV.

However, the interest rate on 24-36 month term deposits jumped to 5%/year, the highest among the four state-owned commercial banks.

In addition, Vietinbank also has a policy of adding interest rates from 0.3-0.4%/year compared to the listed rate when customers deposit money for a term of 1-11 months; and adding interest rates of 0.2%/year compared to the listed rate when customers deposit money for a term of 24-36 months.

Thus, the interest rate for 6-11 month term deposits at VietinBank can be up to 3.7%/year, and the interest rate for 24-36 month term deposits can be up to 5.2%/year.

ONLINE DEPOSITS INTEREST RATES AT BIG4 BANKS (%/YEAR)
TERM VIETINBANK BIDV AGRIBANK VIETCOMBANK
1 MONTH 2 2 1.8 1.6
3 MONTHS 2.3 2.3 2.2 1.9
6 MONTHS 3.3 3.3 3.2 2.9
9 MONTHS 3.3 3.3 3.2 2.9
12 MONTHS 4.7 4.7 4.7 4.6
18 MONTHS 4.7 4.7 4.7 4.6
24 MONTHS 5 4.9 4.8 4.7
36 MONTHS 5 4.9 4.8 4.7

Although maintaining interest rates lower than the general level, the above 4 banks still account for the majority of the mobilization market share.

According to VietNamNet statistics, in the first 6 months of 2024, Agribank continued to be the bank that people "chosen to deposit money" the most with 1,837 trillion VND as of June 30.

The amount of money deposited in Agribank increased only 0.91% compared to the beginning of the year, but in total, the total capital mobilized at Agribank accounted for 14.9% of the market share of the entire banking industry.

BIDV ranked second in total mobilized capital, with VND 1,786 trillion, up 5.99% compared to the end of 2023 and accounting for 14.51% of the mobilized market share.

With VND1,464 trillion mobilized by the end of June, VietinBank ranked third, up 3.89%, holding 11.89% of the mobilization market share.

Although ranked fourth in terms of mobilized capital, up to 1,376 trillion VND, Vietcombank's customer mobilization decreased slightly by 1.81% compared to the end of last year. This "giant" is holding 11.17% of the mobilization market share.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON AUGUST 28, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
ABBANK 3.2 4 5 5.5 6 5.7
ACB 3 3.4 4.15 4.2 4.8
BAC A BANK 3.5 3.8 5 5.1 5.6 5.75
BAOVIETBANK 3.3 4 5.2 5.4 5.8 6
BVBANK 3.7 3.8 5.1 5.5 5.8 6
CBBANK 3.8 4 5.55 5.5 5.7 5.85
DONG A BANK 3.6 3.6 4.9 4.9 5.3 5.2
EXIMBANK 3.5 4.3 5.2 4.5 5.4 5.1
GPBANK 3 3.52 4.85 5.2 5.75 5.85
HDBANK 3.55 3.55 5.1 4.7 5.5 6.1
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.4 3.5 4.7 4.8 5.1 5.6
MB 3.3 3.7 4.4 4.4 5.1 5
MSB 3.7 3.7 4.6 4.6 5.4 5.4
NAM A BANK 3.5 4.1 5 5.2 5.6 5.7
NCB 3.7 4 5.35 5.55 5.7 6.1
OCB 3.7 3.9 4.9 5 5.2 5.4
OCEANBANK 3.4 3.8 4.8 4.9 5.5 6.1
PGBANK 3.2 3.7 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
SCB 1.6 1.9 2.9 2.9 3.7 3.9
SEABANK 2.95 3.45 3.75 3.95 4.5 5.45
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.45 4.55 4.55 4.95 4.95
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.2 3.5 4.6 4.6 5.1
VIET A BANK 3.4 3.7 4.8 4.8 5.4 5.7
VIETBANK 3.6 3.8 5.2 5 5.6 5.9
VPBANK 3.6 3.8 5 5 5.5 5.5

According to statistics, from the beginning of August until now, 15 banks have increased deposit interest rates, including: Agribank, Eximbank, HDBank, Sacombank, Saigonbank, TPBank, CB, VIB, DongA Bank, VPBank, Techcombank, VietBank, SHB, PVCombank, and Nam A Bank.

Among them, Sacombank, VietBank, DongA Bank, and Techcombank are the banks that have increased interest rates twice during this period.

On the contrary, Bac A Bank, SeABank, and OCB are banks that unexpectedly reduced deposit interest rates during this time, of which SeABank has reduced interest rates twice.