Which bank offered the highest interest rates in June?

Following the widespread interest rate cuts that began in early April, deposit interest rates in the market have now cooled down. However, some commercial banks still maintain preferential interest rates of 7% or higher for long-term deposits or with specific conditions.

Overview of the trend towards cooling interest rates

According to statistics, in April, more than 30 commercial banks simultaneously adjusted deposit interest rates downwards, with reductions ranging from 0.5 to 1 percentage point. This move followed a meeting with the Governor of the State Bank of Vietnam aimed at supporting people and businesses. By May, the downward trend gradually slowed down, with participating banks including Sacombank, MBV, MB, Saigonbank,ACB , and LPBank.

Currently, interest-bonus programs have decreased significantly, with preferential rates about 0.5 percentage points lower than last month. At the counter, some banks still apply interest rates of 7-8% per year for terms of 6-12 months or more, with the condition that the deposit amount is several tens or hundreds of millions of VND.

For online deposits, banks are currently offering interest rates starting from 7% per year for one or more terms, including: VIB, Saigonbank, Sacombank, Bac A Bank , PGBank, OCB, MBV, LPBank, MB, and MSB. However, most of these rates only apply to terms longer than 12 months, with large balances, or as part of special promotional programs (except for MBV, which offers rates starting from 6 months).

Compare online deposit interest rates across different terms.

Online deposit interest rates in June showed a clear differentiation between maturities and bank groups:

Short term (1-3 months)

• 1-month term: Rates range from 1.6% to 4.75% per year. The highest rate of 4.75% per year belongs to the Big 4 banks ( Agribank , BIDV, VietinBank, Vietcombank) and some joint-stock commercial banks (BaoVietBank, BVBank, MSB, OCB...). Most other joint-stock banks maintain rates of 4.2% - 4.75% per year.
• 3-month term: Ranging from 1.9% to 7% per year. MBV leads the market with an absolute rate of 7% per year. The group listing at 4.75% per year includes: Agribank, BIDV, VietinBank, Vietcombank, BaoVietBank, BVBank, MSB, Nam A Bank, NCB, OCB, PGBank, and Saigonbank.

Medium and long-term periods (6 - 18 months)

Interest rate differentials between different units begin to widen for terms of 6 months or longer:

Source: https://baolaocai.vn/ngan-hang-nao-ap-dung-muc-lai-suat-cao-nhat-thang-6-post900772.html