Banks have sky-high interest rates of 8 to 10%

Which bank has the highest interest rate now?

PVcomBank is currently the bank with the highest savings interest rate in the market, up to 10% applied to a 12-13 month deposit term and requires a minimum deposit of VND 2,000 billion.

Ranked second is HDBank, which applies a rate of 8.4%/year for a 13-month term with the condition of maintaining a minimum balance of 300 billion VND.

Statistics of banks with the highest savings interest rates today:

Summary of banks with the highest interest rates on the market today. Graphics: Tuyet Lan

Compare highest bank interest rates for 6-month term

Compare the highest bank interest rates for 6-month terms. Graphics: Tuyet Lan

Compare highest bank interest rates for 12-month term

Compare the highest bank interest rates for 12-month terms. Graphics: Tuyet Lan

Compare highest bank interest rates for 24-month term

Compare the highest bank interest rates for 24-month terms. Graphics: Tuyet Lan

In the context of continuous decline in bank deposit interest rates in 2023, a paradox occurred in this market: savings interest rates decreased dramatically, but a large amount of savings deposits still flowed into the banking channel.

According to data from the General Statistics Office, as of December 21, 2023, capital mobilization of credit institutions increased by 10.85% compared to the beginning of 2023, double the increase of 5.99% in 2022.

Meanwhile, data from the State Bank shows that by the end of September 2023, total deposits of residents and economic organizations in the banking system reached about 12.68 million billion VND, an increase of nearly 7.28% compared to the beginning of the year and almost as high as the deposit growth rate of the whole year of 2022.

Thus, in less than the last 3 months of 2023, capital mobilization growth of banks increased by 3.75 percentage points, equivalent to a net increase of nearly VND 422,000 billion. On average, every day in the fourth quarter of 2023, people and businesses brought more than VND 5,200 billion to deposit in banks.

Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.

Readers can see other articles about the highest bank interest rates HERE.

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