Savings interest rates continue to fall sharply

According to the latest deposit interest rate table on October 11, many banks continue to deeply reduce deposit interest rates. In particular, the highest interest rate at 4 major banks is only 5.3%/year.

Currently, the highest interest rate at 4 major banks is only 5.3%/year. Illustrative photo.

Specifically, the Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and the Bank for Agriculture and Rural Development ( Agribank ) have just applied a new deposit interest rate schedule, reducing 0.2%/year for many deposit terms of 3 months or more.

The highest interest rate listed by these banks has decreased from 5.5%/year to 5.3%/year, applied to customers depositing money for 12 months or more.

Interest rates on deposits with terms from 3 to under 6 months decreased from 3.5%/year to 3.3%/year; terms from 6 to under 12 months decreased from 4.5%/year to 4.3%/year.

Meanwhile, interest rates for non-term deposits and terms under 1 month are kept at 0.1-0.2%/year; terms from 1 to under 3 months are 3%/year.

Thus, the interest rates at the above 3 banks have decreased to the same level as the interest rates at the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ) which were adjusted on October 3.

Not only the 4 big banks, Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank ) also reduced the interest rate for all terms by 0.1-0.3%/year from October 11.

According to VTV.vn

Published at: 15:24, October 12, 2023

Source: https://baoquangngai.vn/kinh-te/202310/lai-suat-tiet-kiem-tiep-tuc-giam-sau-08a3c8e/