Which bank in the Big4 group has the highest mobilization?

According to a survey by reporters of Hanoi Moi Newspaper, last week, the highest online deposit interest rate in the "Big 4" banking group was 5%/year, applied at Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) for term deposits from 24 to 36 months.

Customers transact at VietinBank . Photo: Quang Thai

Specifically, at VietinBank, the bank interest rate for 1-2 month term: 2%/year; 3-5 month term: 2.3%/year; 6-11 month: 3.3%/year; 12-18 month: 4.7%/year and the highest is 5%/year for 24-36 month term deposits.

At the Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ), the interest rate for online deposits with terms of 1-18 months is equal to the interest rate listed by VietinBank and is applied similarly to VietinBank. However, for online deposits with terms of 18-36 months, the interest rate of this bank is 4.7%/year.

With the Vietnam Bank for Agriculture and Rural Development ( Agribank ), the highest interest rate applied to deposits with a term of 24-36 months is 4.9%/year. As for other terms, such as online savings with a term of 1-2 months has an interest rate of 2.4%/year; term of 3-5 months: 3%/year; 6-11 months: 3.7%/year; 12-18 months: 4.8%/year.

Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) listed online deposit interest rates for terms of 1-2 months: 1.6%/year; 3-5 months: 1.9%/year; 6-11 months: 4.6%/year; 12-18 months: 4.6%/year. The highest interest rate of 4.7%/year is applied to deposits with terms of 24 months or more.

With such low interest rates, the Big 4 banks can lend at quite reasonable interest rates, as BIDV announced the average lending interest rate in June was 5.5%/year. BIDV representative said that the difference between the average lending interest rate and the average mobilization interest rate at BIDV is 2.53%/year, the difference in average interest rate after deducting costs related to capital mobilization and capital use is 1.36%/year.

At Vietcombank, the average lending interest rate is 5.6%/year, the average lending/mobilization interest rate difference is 2.8%/year, the interest rate difference after deducting mobilization and capital usage costs is 1.2%.

For Agribank, the latest average lending interest rate announced is 6.54%/year. The average lending/mobilization interest rate difference is 2.82%/year, the interest rate difference after deducting the cost of mobilization and capital use is 1.14%/year.

Or VietinBank has average lending and deposit interest rates of 5.6% and 3.3%/year respectively.

Source: https://hanoimoi.vn/ngan-hang-nao-trong-nhom-big4-huy-dong-cao-nhat-708979.html