On the morning of January 12, Vietcombank posted a new deposit interest rate table with the interest rate for 1-2 month terms being only 1.7%/year instead of 1.9%/year as before.
3-month terms also decreased by 0.2 percentage points to 2%/year, 6-9 month terms decreased from 3.2% to 3%/year, 12-month terms decreased to 4.7%/year.
Also this morning, Viet A Bank reduced interest rates by 0.1% per year for terms of 12 months or less. Accordingly, interest rates for 1-5 months are 4.2% per year, for 6-11 months are 5.2% per year, and for 12 months are 5.5% per year.
Illustration: CafeF
Although deposit interest rates have continuously decreased, according to the State Bank, the amount of deposits in the banking system in 2023 will still reach an all-time high of more than VND 13.5 million billion by the end of 2023, an increase of 14% compared to 2022.
Recently, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said that lending interest rates for all terms are at their lowest in the past 20 years.
“It can be said that lending interest rates are at their lowest in the past 20 years and many commercial banks say that interest rates cannot be lower. Currently, there are still high interest rates remaining from previous terms when commercial banks mobilized at high interest rates. But it is certain that by 2024, this level will no longer be maintained," said Mr. Tu.
Interest rates posted at bank counters on January 12:
| Bank | Term 03 months | Term 06 months | 12 month term | 24 month term |
| Agribank | 2.5 | 3.5 | 5.0 | 5.3 |
| Vietcombank | 2.0 | 3.0 | 4.7 | 4.7 |
| Vietinbank | 2.5 | 3.5 | 5.0 | 5.3 |
| BIDV | 3.0 | 4.0 | 5.0 | 5.3 |
| AB Bank | 3.15 | 4.2 | 3.8 | 3.7 |
| ACB | 3.4 | 4.5 | 4.6 | 4.6 |
| North Asia Bank | 3.7 | 4.9 | 5.2 | 5.6 |
| Bao Viet Bank | 4.05 | 5.0 | 5.5 | 5.8 |
| CB Bank | 4.2 | 5.6 | 5.9 | 6.0 |
| Dong A Bank | 3.9 | 4.9 | 5.4 | 5.6 |
| Eximbank | 3.6 | 4.5 | 5.0 | 5.4 |
| HD Bank | 3.15 | 5.3 | 5.5 | 6.2 |
| GP Bank | 3.87 | 4.8 | 5.0 | 5.1 |
| Hong Leong Bank | 2.0 | 3.5 | 3.5 | 3.5 |
| Kien Long Bank | 3.75 | 5.0 | 5.3 | 5.8 |
| LP Bank | 2.5 | 3.5 | 5.0 | 5.3 |
| MBBANK | 3.1 | 4.3 | 4.8 | 6.0 |
| MSB | 3.3 | 4.2 | 5.1 | 5.8 |
| Nam A Bank | 4.0 | 4.7 | 5.42 | 5.65 |
| NCB | 4.25 | 5.2 | 5.55 | 5.85 |
| OCB | 3.5 | 4.7 | 5.0 | 6.2 |
| Oceanbank | 4.5 | 5.4 | 5.7 | 5.7 |
| PG Bank | 3.5 | 4.6 | 5.5 | 5.9 |
| PVCombank | 3.35 | 5.0 | 5.1 | 5.4 |
| Sacombank | 3.6 | 4.5 | 4.8 | 4.95 |
| Saigonbank | 3.5 | 4.9 | 5.4 | 5.6 |
| SCB | 3.7 | 4.7 | 5.4 | 5.4 |
| SeABank | 4.0 | 4.4 | 4.9 | 5.15 |
| SHB | 3.7 | 4.7 | 5.0 | 5.5 |
| Techcombank | 3.3 | 4.3 | 4.7 | 4.7 |
| TPBank | 3.2 | 4.0 | 4.9 | 5.2 |
| VBBank | 3.9 | 5.3 | 5.7 | 6.1 |
| VIB | 3.3 | 4.5 | 4.9 | 5.1 |
| Viet A Bank | 3.8 | 4.9 | 5.2 | 5.7 |
| Vietcapitalbank | 4.3 | 5.5 | 5.7 | 5.85 |
| VPBank | 3.6 | 4.3 | 5.0 | 4.9 |
Cong Hieu
Source
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