Two banks leading in high deposit interest rates

15 commercial banks increased deposit interest rates in April, causing interest rates of 5%/year or more to suddenly dominate long-term rates.

If last month, the interest rate of 6%/year was only maintained by Orient Commercial Joint Stock Bank (OCB) for 36-month online deposits, now, Ocean Bank has raised the interest rate for this term to 6.1%/year, the highest level currently for all terms.

OceanBank and OCB are also the two banks leading the market in terms of 24-month deposit interest rates, at 6% and 5.8%/year, respectively.

In addition to OceanBank and OCB, two banks VietBank and Saigonbank are also maintaining interest rates of 5.8% for 24-36 month term deposits.

Even a bank in the Big 4 group, VietinBank, has brought the 5%/year interest rate back to the interest rate table for 24-36 month terms.

For 18-month term deposits, OceanBank and HDBank are the two leading banks with listed interest rates of 5.9%/year. Next are the banks: VietBank (5.8%/year); Saigonbank, LPBank (5.6%/year); KienLong Bank, Nam A Bank, NCB, BaoViet Bank (5.5%/year); OCB (5.4%/year); PVCombank (5.3%/year); Bac A Bank, BVBank (5.25%/year); SHB (5.2%/year); TPBank, Eximbank, Viet A Bank (5.1%/year).

OceanBank is also the market leader in 12-month online deposit interest rates, up to 5.4%/year. Followed by VietBank and KienLong Bank (5.2%/year); Nam A Bank (5.1%/year); HDBank, Saigonbank, LPBank, NCB (5%/year).

For the past 3 months, the 9-month deposit term has not had an interest rate of 5%/year, but after KienLong Bank increased the interest rate on April 26, the 5% interest rate has reappeared.

KienLong Bank is also the only bank listing an interest rate of 5%/year for 9-month term deposits.

BANKS LISTING DEPOSIT INTEREST RATES FROM 5%/YEAR AS OF APRIL 27, 2024
BANK 9 MONTHS 12 MONTHS 18 MONTHS 24 MONTHS 36 MONTHS
OCEANBANK 4.1 5.4 5.9 6 6.1
OCB 4.7 4.9 5.4 5.8 6
VIETBANK 4.7 5.2 5.8 5.8 5.8
SAIGONBANK 4.1 5 5.6 5.7 5.8
MB 3.7 4.6 4.7 5.7 5.7
LPBANK 4.1 5 5.6 5.6 5.6
KIENLONGBANK 5 5.2 5.5 5.5 5.5
NAM A BANK 4.7 5.1 5.5 5.5 5.5
HDBANK 4.6 5 5.9 5.5 5.5
NCB 4.65 5 5.5 5.5 5.5
SHB 4.4 4.9 5.2 5.5 5.5
BAC A BANK 4.45 4.85 5.25 5.5 5.5
BAOVIETBANK 4.4 4.7 5.5 5.5 5.5
BVBANK 4.35 4.7 5.25 5.25 5.35
TPBANK 4.9 5.1 5.2 5.3
PVCOMBANK 4.3 4.8 5.3 5.3 5.3
EXIMBANK 4.1 4.9 5.1 5.2 5.2
VIET A BANK 4.3 4.8 5.1 5.2 5.2
VPBANK 4.2 4.8 4.8 5.2 5.2
SACOMBANK 3.8 4.7 4.9 5 5.2
PGBANK 3.8 4.3 4.8 5.2 5.2
VIETINBANK 3.1 4.7 4.7 5 5
VIB 4 4.8 5 5

Which bank has the most "easy" "special interest rate" conditions?

If depositing a large amount of money, from several hundred billion or more, depositors can choose to deposit at MSB, Dong A Bank, ACB, HDBank, PVCombank,... to enjoy "special interest rates".

However, ABBank has just officially removed the listing of “special interest rates” on the deposit interest rate table at the counter. Previously, this bank maintained a “special interest rate” policy of up to 9.65%/year (the highest rate in the market), applied to 13-month term deposits with a minimum savings amount of VND1,500 billion.

PVCombank also applies a "special interest rate" of up to 9.5%/year for customers depositing money for a term of 12-13 months, with a minimum deposit of VND2,000 billion.

At HDBank, the “special interest rate” is currently 7.7%/year for a 12-month term and 8.1%/year for a 13-month term. The condition to enjoy this interest rate is a minimum deposit account of VND500 billion. Notably, the interest rate of 8.1% for a 13-month term has increased slightly by 0.1 percentage points compared to last week.

Dong A Bank is also applying a “special interest rate” policy when depositing from 200 billion VND, with a term of 13 months, the interest rate will be 7.5%/year. Compared to other banks, the conditions to enjoy special status of Dong A Bank are considered the “easiest”.

The “special interest rate” at MSB is currently 7%/year (down 0.5 percentage points compared to early April), applied to 13-month term deposits and also with deposits from 500 billion VND.

The “special interest rate” at ACB is currently 5.6%/year for 13-month deposits (the normal interest rate is 4.4%/year).

Compared to the above banks, the “special interest rate” at ACB is nothing special. However, the condition set by ACB is that you must have a deposit of at least 200 billion VND.

In addition, some banks such as VPBank, Techcombank, SeABank, ACB are applying a ladder interest rate policy depending on the deposit amount, or by default adding interest to customers when depositing from 100 million VND.