Savings deposit interest rates are falling rapidly.

(NLĐO) – Many banks continue to lower deposit interest rates following the Prime Minister 's directive.

On March 3rd, Ms. Ngoc Mai (residing in Binh Thanh District, Ho Chi Minh City) had a savings deposit at Eximbank that matured. She accessed the bank's website to check the online interest rate schedule and was quite surprised to find that many terms no longer offered the high interest rates they used to.

"Interest rates for savings deposits with terms under 6 months have decreased by about 0.4 percentage points compared to before. I chose a 6-month term online deposit with the highest interest rate of 5.2%/year, a decrease of 0.3 percentage points," said Ms. Mai.

According to the Nguoi Lao Dong newspaper, in its latest interest rate schedule effective from March 3rd, Eximbank has simultaneously reduced interest rates for all maturities across both online and over-the-counter channels.

Specifically, the highest interest rate at this bank is 6.1% per year for online deposits with a term of 18 months or more; the highest rate at the counter is 5.8% per year for terms of 24 months or more.

Previously, the highest interest rate at Eximbank reached 6.6% per year for customers depositing for long terms of 24 months or more on weekends (Saturday and Sunday).

Not only Eximbank, but according to reporters' observations, many other banks have also continued to reduce deposit interest rates following directives from the Prime Minister and the State Bank of Vietnam.

For the 3-month term, Vietbank reduced its interest rate by 0.2 percentage points to 3.9%/year; BacABank reduced its rate by 0.1 percentage point to 3.9%/year.

Savings deposit interest rates have decreased in recent days.

For the 6-month term, BVBank lowered its interest rate to 5.2%/year; Vietbank reduced it to 5%/year; VIB lowered it to 4.6%/year, these banks reducing rates by 0.1 to 0.3 percentage points compared to before. Meanwhile, for the same term, HDBank sharply reduced its rate by 0.6 percentage points to 4.6%/year.

Many other banks such as ABBANK, Kienlongbank, BacABank, Vietbank, BVBank, BaoVietBank… also adjusted interest rates downwards for some long-term maturities.

In the state-owned commercial banking sector, Vietcombank, Agribank, BIDV, and VietinBank continue to maintain stable deposit interest rates. The highest interest rates for deposits of 24 months or more at these banks range from 4.7% to 4.8% per year.

Previously, Prime Minister Pham Minh Chinh signed Directive No. 05/CT-TTg dated March 1, 2025, on key tasks and breakthrough solutions to promote economic growth and accelerate the disbursement of public investment capital, ensuring the national growth target of 8% or higher in 2025. In particular, the Prime Minister requested strict handling, in accordance with the law, of violations, especially by credit institutions engaging in unfair and illegal interest rate competition (both deposit and lending rates).

The State Bank of Vietnam also issued document No. 1328/NHNN-CSTT requesting credit institutions to seriously implement the directives of the Government, the Prime Minister, and the State Bank of Vietnam to stabilize deposit interest rates, contributing to the stability of the monetary market.

The State Bank of Vietnam stated that it will continue to closely monitor deposit and lending interest rates, and strictly handle violations and unfair or illegal interest rate competition by credit institutions in accordance with the law.

Source: https://nld.com.vn/lai-suat-tien-gui-tiet-kiem-giam-nhanh-196250303103138914.htm