Interest rates have skyrocketed.

Interest rate fluctuations on August 20: Interest rates soared. — Interest rate fluctuations 20.8. Image design: Huyen Mai.

VietBank raises interest rates.

According to Lao Dong newspaper, on August 20th, Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) issued a new interest rate schedule, with only one term showing an increase.

VietBank's online deposit interest rates are currently listed as follows:

The interest rate for a 1-month term is 3.6% per annum.

The interest rate for a 3-month term is 3.8% per annum.

Interest rates for 6-month terms increased by 0.3 percentage points, to 5.2% per annum.

The interest rate for a 9-month term is 5.0% per annum.

The interest rate for a 12-year term is 5.6% per annum.

Interest rates for 24-36 month terms are at 5.9% per annum.

Following the interest rate increase, VietBank is among the top banks offering the highest interest rates for the 6-month term.

VietBank's online deposit interest rate chart. Screenshot.

VietBank's over-the-counter deposit interest rates are currently listed as follows:

The interest rate for a 1-month term is 3.5% per annum.

The interest rate for a 3-month term is 3.7% per annum.

The interest rate for a 6-month term is 4.8% per annum.

The interest rate for a 9-month term is 4.9% per annum.

The interest rate for a 12-month term is 5.5% per annum.

Interest rates for 24-36 month terms are at 5.8% per annum.

Interest rate chart for deposits at the counter at VietBank. Screenshot.

Savings interest rates are fluctuating, sometimes increasing, sometimes decreasing.

According to Lao Dong newspaper, by the end of the first half of August, the market recorded 14 banks increasing savings interest rates. Compared to the same period two months earlier, nearly 20 banks had increased interest rates in just half a month.

Banks that have increased savings interest rates since the beginning of August include: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank,SHB , and VietBank.

However, a few banks are beginning to lower interest rates. Since the beginning of August, the market has seen as many as three banks adjust their rates in the opposite direction, lowering them. These banks are mostly those that previously offered some of the highest interest rates in the market, such as ABBank, Bac A Bank , and SeABank.

(See more high interest rates HERE)

Details of deposit interest rates at various banks, updated August 20, 2024.