A bank goes against the trend to increase deposit interest rates

Entering June, the interest rate level for savings deposits continued to show a cooling trend as many commercial banks announced further reductions.

However, the market recently unexpectedly recorded a bank sharply increasing deposit interest rates for terms over 6 months, bringing the bank's low interest rates to a competitive level in the market.

Banks reverse interest rate increase

Specifically, the latest savings interest rate table released by PVComBank has recorded a sharp increase compared to last month. Specifically, for over-the-counter and online deposits, this bank has adjusted the increase for terms of 6 months or more by up to 0.8 percentage points/year.

For the 6-month term, this bank increased the mobilization interest rate by 0.4 percentage points from 6.6%/year to 7%/year; the 12-month term increased by 0.8 percentage points from 6.9%/year to 7.7%/year and the term over 12 months increased by 0.7 percentage points, to 7.8%/year.

For 6-month online deposits, PVcomBank adjusted the savings interest rate for individual customers by 0.5 percentage points, from 7%/year to 7.5%/year; 12-month term increased from 7.4%/year to 8.2%/year and term over 12 months increased by 0.5 percentage points, currently listed at 8.3%/year.

After the above interest rate adjustment, PVcomBank's mobilization interest rate has risen to a competitive level compared to the general market.

However, on the contrary, this bank also reduced the interest rate for short-term deposits under 6 months, mainly by about 0.2 percentage points. In particular, PVComBank reduced the interest rate for 1-5 month term deposits from 4.7%/year to 4.5%/year, applied to both counter and online deposits. This is currently also the lowest interest rate in the market for this term.

A series of banks further reduced interest rates

Except for PVComBank, according to the survey, in June, many more banks have reduced deposit interest rates for individual customers such as HDBank, SHB , Saigonbank, Kienlongbank...

Specifically, HDBank 's new deposit interest rate table has further reduced the interest rate by 0.2 percentage points for terms of 6 months or more on the online channel. Accordingly, the interest rate applied by this bank for terms of 6 months, 12 months and 13 months has decreased to 7.9%/year from the previous level of 8.1%/year.

For deposit terms of 15-36 months, HDBank still maintains interest rates of 6.9-7.1%/year and for deposit terms of less than 6 months, interest rates are paid at 5%/year.

For the form of savings at the counter, HDBank has not changed the interest rate table. The interest rate for 1-5 month term is still at 5%/year; 6-month term is 6.6%/year; 12-month is 7%/year and for term over 12 months, the interest rate paid by this bank fluctuates in the range of 6.8-7.55%/year.

A bank goes against the trend to increase deposit interest rates - 2 — Since the beginning of June, four more banks have continued to lower deposit interest rates for individual customers. Photo: Chi Hung.

On June 1, SHB also announced a reduction in deposit interest rates by 0.2-0.6 percentage points for terms over 6 months in the form of online deposits and step-by-step savings by amount.

In the form of online deposits, the 6-month deposit term has been reduced by this bank from 7.5%/year to 7.2%/year; the 12-month term has been reduced from 7.9%/year to 7.7%/year; for terms longer than 12 months, the interest rate offered by SHB has been reduced from 8%/year to 7.7%/year.

Similarly, in the ladder savings interest rate table by amount, this bank is also adjusting the interest rate for 6-month term from 7%/year to 6.8%/year; 12-month term from 7.5%/year to 7.3%/year; and over 12-month term from 7.6-8%/year to 7.3-7.4%/year.

Two small-scale banks, Saigonbank and Kienlongbank, also continued to reduce deposit interest rates by 0.2-0.3 percentage points for terms of 6 months or more.

In particular, Saigonbank reduced 0.2% interest rates for over-the-counter and online deposits, applicable to terms of 6 months, 12 months, 13 months, currently listed at 7.2%/year; 7.6%/year and 8.2%/year respectively. Terms over 13 months are still kept at 7.4%/year by the bank; terms of 1-5 months are listed unchanged at 5%/year.

As for Kienlongbank, this bank has sharply reduced interest rates for online deposits. Particularly, the 6-month term has decreased by 1%, down to 6.7%/year; the 12-month term has decreased by 0.7% to 7.1%/year; the term over 12 months has decreased by 0.2-0.3% to 7.3-7.4%/year.

(Source: Zing News)

Useful
Emotion
Creative
Unique

Source