Interest rates increase, with 700 million VND deposit, which term has the highest interest rate?

On October 25, Mr. Cao Minh (living in Ho Chi Minh City)'s 6-month deposit of VND700 million was due for final settlement. The previous deposit had an interest rate of 5.7%/month at a digital bank.

"I saw the bank announce that if I continue to deposit, I will receive an interest rate of 6.1%/year, including a 0.2% interest rate for loyal customers. Calculating, 700 million VND deposited for 6 months, the interest will be more than 21.3 million VND. I plan to borrow more from the bank to buy an apartment worth about 2.5-3 billion VND, but there are not many options so I still decide to save" - Mr. Minh explained.

According to the reporter of Nguoi Lao Dong Newspaper, the interest rate is about 6%/year for 6-month deposits, the highest at the present time, applied by some digital banks. At many commercial banks, the 6-month term has an interest rate ranging from 4-5.5%/year.

Specifically, at state-owned commercial banks such as BIDV, Vietcombank, VietinBank, Agribank , 6-month deposit interest rates range from 2.9 - 3.5%/year.

Large commercial banks such as VPBank, Techcombank, MB,ACB charge 6-month deposit interest rates from 3.5 - 4.8%/year.

With other commercial banks such as VIB, TPBank,SHB , SeABank, Sacombank, Nam A Bank, interest rates for the same term range from 4.2 - 4.7%/year.

With the same 6-month term, banks mobilizing interest rates above 5%/year are BVBank, Vietbank, PGBank, NCB, Kienlongbank, BacABank, ABBANK.

- Ảnh 2. — Average 6-month deposit interest rates at some banks. AI graphics

According to statistics from Yuanta Vietnam Securities Company, deposit interest rates at some banks have increased slightly recently. The average deposit interest rates for terms of 2-36 months increased by about 0.2 - 1.06 percentage points compared to a few weeks ago.

By the end of September, credit had increased by 13.4% compared to the beginning of the year, while capital mobilization by banks had only increased by about 9.7%. Interest rates at some banks have shown signs of a slight increase since the end of September and are forecast to continue to increase by the end of the year.

Bank deposits at record levels

The recent increase in deposit interest rates has helped deposits continue to flow into the banking system. Data recently released by the State Bank shows that as of the end of July 2025, people's deposits in the banking system reached over VND7,748 trillion, an increase of nearly 9.7% compared to the beginning of the year.

According to the Vietnam Banking Association, residential deposits have grown steadily and the figure of more than 7,748 trillion VND is a record. In July alone, residential deposits increased by more than 54,000 billion VND.

"This reflects the trend that people continue to prioritize safe savings channels, even though the common deposit interest rate is only below 6%/year. Compared to the same period in previous years, this is the highest increase, showing that confidence in the banking system is still maintained in the context that other investment channels, although vibrant again, are not attractive enough to compete for idle capital" - a representative of the Vietnam Banking Association said.