Saigon Commercial Joint Stock Bank (SCB) has just reduced deposit interest rates for all terms from 1 to 36 months, thereby eliminating any deposit term above 6%/year. This is also the first time since the beginning of the month that the bank has reduced deposit interest rates.
Accordingly, the bank interest rate for 1-5 month terms decreased to 4.5%/year. The 6-8 month term also decreased from 5.75% to 5.35%/year. The 9-11 month term decreased from 5.85% to 5.45%/year. The 12-36 month term decreased from 6.05% to 5.65%/year.
Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) has also just adjusted interest rates down for the second time this month, by 0.1 percentage points for terms of 6-15 months and by 0.2 percentage points for terms of 18-36 months.
Specifically, the 6-8 month term at VietBank is 5.6%/year, the 9-11 month term is 5.7%/year, the 12-month term has an interest rate of 5.9%/year, and the 13-15 month term is 6%/year.
The 18-36 month terms also decreased to 5.6%/year, while the 1-5 month term kept the interest rate at 4.55%/year.
Apart from SCB and VietBank, the deposit interest rates at the remaining banks remain unchanged. Of which, Vietcombank, Agribank , BIDV, and VietinBank are the banks that maintain the lowest deposit interest rates at present.
Agribank and VietinBank maintain the highest interest rates for 1-2 month term deposits at 3.4%/year, while BIDV and Vietcombank apply interest rates of 3.2% and 3%/year, respectively, for this term.
Agribank and VietinBank also maintain 3-month term interest rates at a slightly higher level than the other two banks, at 3.85% and 3.75% per year, respectively. Meanwhile, BIDV and Vietcombank have interest rates of 3.5% and 3.3% per year, respectively, for this term.
Agribank is also applying a higher interest rate for online deposits with a term of 6-11 months, reaching 4.7%/year, while at BIDV it is 4.6%/year, at VietinBank it is 4.4%/year and at Vietcombank it is 4.3%/year.
After Vietcombank, BIDV and VietinBank all reduced interest rates in October, online deposit interest rates for 12-36 month terms at these three banks are all maintained at 5.3%/year. Meanwhile, at Agribank, this bank has not reduced interest rates, so deposit interest rates for these terms are still slightly higher, at 5.5%/year.
Since the beginning of October, 20 banks have reduced deposit interest rates, including: VietBank, SCB, VPBank, SHB, BIDV, VietinBank, HDBank, BaoViet Bank, Techcombank, SeABank, Viet A Bank, PG Bank, VietBank, Dong A Bank, Vietcombank, LPBank, Nam A Bank, CBBank, ACB and Bac A Bank.
Of which, VietBank, LPBank, Viet A Bank and Bac A Bank are the banks that reduced interest rates twice this month. On the contrary, there was one bank that increased deposit interest rates, GPBank, on October 4.
| HIGHEST DEPOSITS INTEREST RATE TABLE ON OCTOBER 17 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| PVCOMBANK | 4.25 | 4.25 | 6.4 | 6.4 | 6.5 | 6.8 |
| NCB | 4.75 | 4.75 | 6.3 | 6.35 | 6.4 | 6.4 |
| CBBANK | 4.2 | 4.3 | 6 | 6.1 | 6.3 | 6.4 |
| HDBANK | 4.25 | 4.25 | 5.9 | 5.8 | 6.1 | 6.5 |
| VIET A BANK | 4.5 | 4.5 | 5.8 | 5.8 | 6.1 | 6.3 |
| BAOVIETBANK | 4.4 | 4.75 | 5.8 | 5.9 | 6.1 | 6.4 |
| OCEANBANK | 4.6 | 4.6 | 5.8 | 5.9 | 6.1 | 6.5 |
| BAC A BANK | 4.55 | 4.55 | 5.75 | 5.8 | 5.9 | 6.1 |
| BVBANK | 4.4 | 4.7 | 5.75 | 5.9 | 6.05 | 6.15 |
| SAIGONBANK | 3.6 | 4 | 5.7 | 5.7 | 5.9 | 5.9 |
| DONG A BANK | 4.5 | 4.5 | 5.7 | 5.8 | 6.05 | 6.05 |
| VIETBANK | 4.55 | 4.55 | 5.6 | 5.7 | 5.9 | 6.6 |
| VIB | 4.75 | 4.75 | 5.6 | 5.6 | 6.2 | |
| SHB | 4 | 4.2 | 5.5 | 5.7 | 5.9 | 6.4 |
| SACOMBANK | 3.7 | 3.7 | 5.5 | 5.8 | 6.2 | 6.4 |
| GPBANK | 4.25 | 4.25 | 5.45 | 5.55 | 5.65 | 5.75 |
| KIENLONGBANK | 4.75 | 4.75 | 5.4 | 5.6 | 5.7 | 6.4 |
| SCB | 4.5 | 4.5 | 5.35 | 5.45 | 5.65 | 5.65 |
| PG BANK | 4 | 4 | 5.3 | 5.3 | 5.4 | 6.2 |
| OCB | 4.1 | 4.25 | 5.3 | 5.4 | 5.5 | 5.9 |
| EXIMBANK | 4 | 4 | 5.2 | 5.5 | 5.6 | 5.8 |
| NAMA BANK | 4.65 | 4.65 | 5.2 | 5.3 | 5.8 | 6.4 |
| LPBANK | 3.8 | 4 | 5.1 | 5.2 | 5.6 | 6.4 |
| MB | 3.5 | 3.8 | 5.1 | 5.2 | 5.4 | 6.1 |
| VPBANK | 3.9 | 3.95 | 5 | 5 | 5.3 | 5.1 |
| ACB | 3.5 | 3.7 | 5 | 5.1 | 5.5 | |
| TPBANK | 3.8 | 4 | 5 | 5 | 5.55 | 6 |
| MSB | 3.8 | 3.8 | 5 | 5.4 | 5.5 | 5.5 |
| TECHCOMBANK | 3.55 | 3.75 | 4.95 | 5 | 5.35 | 5.35 |
| ABBANK | 3.7 | 3.9 | 4.9 | 4.9 | 4.7 | 4.4 |
| SEABANK | 4 | 4 | 4.8 | 4.95 | 5.1 | 5.1 |
| AGRIBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| VIETINBANK | 3.4 | 3.75 | 4.6 | 4.6 | 5.3 | 5.3 |
| BIDV | 3.2 | 3.5 | 4.4 | 4.4 | 5.3 | 5.3 |
| VIETCOMBANK | 3 | 3.3 | 4.3 | 4.3 | 5.3 | 5.3 |
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