What is BIDV's current deposit interest rate?

What is bank interest rate?

Interest is the price paid for the use of capital. Interest includes deposit interest rate, lending interest rate, interbank interest rate, in which deposit interest rate is the ratio between the interest amount and the mobilized capital.

Mobilization interest rates are classified into mobilization interest rates in Vietnamese Dong and foreign currencies, including interest rates on demand deposits and term deposits; mobilization interest rates by issuing valuable papers include interest rates by issuing valuable papers with terms of less than 12 months and those with terms of 12 months or more.

According to Decision 1124/QD-NHNN, from June 19, 2023, the maximum interest rate for deposits in Vietnamese Dong of organizations (except credit institutions, foreign bank branches) and individuals at credit institutions, foreign bank branches as prescribed in Circular 07/2014/TT-NHNN is as follows:

The maximum interest rate applicable to demand deposits and deposits with terms of less than 1 month is 0.5%/year.

The maximum interest rate applied to term deposits from 1 month to less than 6 months is 4.75%/year; People's Credit Funds and Microfinance Institutions apply the maximum interest rate applied to term deposits from 1 month to less than 6 months at 5.25%/year.

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Current BIDV bank deposit interest rates

At BIDV, as of the end of February 5, 2024, the bank's non-term interest rate is currently at 0.1%/year.

For a term of 1-2 months, the bank applies an interest rate of 1.9%/year. For a term of 3-5 months, the interest rate is 2.2%/year.

For longer terms, BIDV applies an interest rate of 3.2%/year for terms of 6-9 months.

For 12-18 month terms, the bank currently lists an interest rate of 4.8%/year. For 24-36 month terms, the mobilization interest rate is at 5%/year.

Minh Huong (synthesis)

Source: https://vtc.vn/lai-suat-tien-gui-bidv-hien-nay-la-bao-nhieu-ar851871.html