The deposit market continues to witness fierce competition among commercial banks. Currently, the commonly quoted interest rate for a 6-month term fluctuates around 7.1-7.3% per annum.
In other developments, the trend of competing to raise capital through online channels is also booming. Many banks are offering additional interest rates to attract customers. This has led to a significant increase in actual interest rates, with some banks offering 6-month term rates exceeding 8% per annum.
Cake by VPBank is offering an additional 0.9% per year for customers who deposit money online. With the already listed rate of 7.3%, customers will actually receive an interest rate of up to 8.2% per year.
PVcomBank is offering an additional 1.5% per year for deposits made every Friday via digital channels. With this promotion, the actual interest rate for medium and long-term deposits can reach 8.3% per year – the highest rate currently available on the market for regular deposits.
In the alternative product segment, BVBank is offering online certificates of deposit with a maximum interest rate of 7.8% per year. The product is available for four terms of 6, 9, 12, and 15 months, with a minimum deposit amount of 10 million VND.
The difference between depositing at a regular counter and depositing online with a discount can be up to nearly 3 million VND for the same amount and term. This shows that leveraging digital channels is bringing clear financial advantages to people.
Interest rates on 6-month term savings accounts exceed 8% per year (Illustrative image: Tien Tuan).
Digital finance is also predicted to be a new competitive trend for banks this year.
Specifically, with credit growth expected to remain around 15%, the challenge for banks is no longer simply expanding their scale, but managing asset quality on that massive foundation.
In response, financial institutions in Vietnam are accelerating the adoption of artificial intelligence (AI), but concerns about security and limitations of legacy technology infrastructure remain major obstacles to widespread deployment. This is the result of new research by Finastra, a software company specializing in the financial services industry.
According to the survey, 94% of financial institutions in Vietnam expect to increase investment in AI in the next 12 months, demonstrating a strong commitment to expanding AI capabilities despite structural challenges.
Organizations are prioritizing the application of AI to accelerate payment and loan processing, strengthen risk management, improve decision-making quality, and enhance the productivity of their technology development teams.
Source: https://dantri.com.vn/kinh-doanh/lai-suat-tiet-kiem-6-thang-vuot-8nam-ngan-hang-tung-chieu-hut-khach-20260218182022673.htm
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