Which banks still offer 8.6% per year?

According to the online deposit interest rate schedule published today, June 6th, VietA Bank reduced interest rates by 0.2 percentage points for terms of 6 months or more. Meanwhile, interest rates for terms from 1 month to less than 6 months remain at the ceiling of 5% per year.

Specifically, online deposit interest rates for terms of 6-11 months have decreased to 7.8%/year. For terms of 12-18 months, they have decreased to 8%/year; and for terms of 24-36 months, they have decreased to 7.8%/year.

Notably, this marks VietA Bank's fourth consecutive interest rate reduction in the past month.

TPBank also lowered interest rates today, with a 0.2 percentage point reduction for 6-12 month terms.

Accordingly, the latest deposit interest rates are 7.4% per annum for a 6-month term and 7.5% per annum for a 12-month term. The 18-month term remains at 7.5% per annum, while the 24-month term has decreased to 7.4% per annum.

The remaining banks maintained their deposit interest rates.

Thus, the market has seen six banks reduce deposit interest rates since the beginning of June, including: VietA Bank, TPBank,SHB , HDBank, KienLongBank, and Saigonbank.

According to VietNamNet 's statistics from the beginning of May until now, the banks that have reduced deposit interest rates include: VietA Bank, VIB, OCB, Eximbank, MSB, VPBank, TPBank, Vietcombank, Agribank, VietinBank, BIDV, KienLongBank, NamA Bank, NCB, Saigonbank, PVCombank, HDBank, OceanBank, Sacombank, Techcombank, BacA Bank, SCB, DongA Bank, VietBank, MB, SeABank,ACB , LPBank and BaoViet Bank.

The banks that reduced interest rates twice during this period were Eximbank, VPBank, BIDV, VietinBank, Vietcombank, Agribank, TPBank, BacA Bank, OCB, MSB, and Techcombank.

OCB, KienLongBank, Saigonbank, NamA Bank, and Sacombank have reduced deposit interest rates three times in just one month.

VietBank and VietA Bank alone have reduced deposit interest rates up to four times since the beginning of May.

TABLE OF HIGHEST DEPOSIT INTEREST RATES OF BANKS ON JUNE 6 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
GPBank	5	5	8.3	8.4	8.5	8.6
ABBANK	5	5	8.2	8.2	8.3	8.5
OCB	4.8	4.95	8	8.1	8.1	7.9
NCB	5	5	7.9	7.9	8.1	8
HDBANK	5	5	7.9	6.9	7.9	7.1
NAMA BANK	5	5	7.9	7,8	7,8	7.6
CBBANK	4.8	4.9	7.85	7.95	8.15	8.25
VIETA BANK	5	5	7,8	7,8	8	8
SCB	5	5	7,8	7,8	7.85	7.65
VIETBANK	5	5	7,8	7.7	7,8	7,8
BAOVIETBANK	5	5	7.7	7,8	8.1	7,8
BACA BANK	5	5	7.7	7,8	7.9	8.1
VPBANK	4.9	4.9	7.7	7.9	7.7	6.9
VIB	5	5	7.7	7,8		7.9
OCEANBANK	5	5	7.6	7.7	7,8	8.1
PVCOMBANK	5	5	7.5	7.9	8.2	8.3
EXIMBANK	5	5	7.5	7.5	7.6	7.6
BVBANK	4.5	4.8	7.4	7.7	8	8.3
TPBANK	4.8	5	7.4		7.5	7.5
PGBANK	5	5	7.3	7.3	7.5	7.5
MSB	5	5	7.3	7.3	7.4	7.4
SHB	5	5	7.2	7.2	7.7	7.7
SAIGONBANK	5	5	7.2	7.3	7.6	7.4
LPBANK	4.8	4.8	7.2	7.2	7.3	7.9
SEABANK	5	5	7.1	7.19	7.4	7.6
ACB	5	5	7	7.05	7.1
TECHCOMBANK	4.7	4.7	6.9	6.9	6.9	6.9
SACOMBANK	5	5	6.8	7.1	7.4	7.7
KIENLONGBANK	5	5	6,7	6.9	7.1	7.3
AGRIBANK	4.7	4.9	6.6	6.6	6.8	6.6
MB	4.8	4.8	6.5	6.6	7.2	7.3
DONGA BANK	4.5	4.5	6.35	6.45	6,7	6.9
MB	4.6	5	6.2	6.2	6.9	6.8
VIETINBANK	4.5	4.9	6	6	6.8	6.8
VIETCOMBANK	4.5	5	6	6	6.8

On the afternoon of June 5th, during group discussions on the draft Law on Credit Institutions (amended), National Assembly Chairman Vuong Dinh Hue stated that the banking sector has made every effort to support the economy. Recently, the State Bank of Vietnam decided to reduce the policy interest rate three times, and the Deputy Governor of the State Bank also said that "it is still possible to reduce it further."

However, the Speaker of the National Assembly argued that while inflation in 2022 only increased by 3.15% compared to 2021, deposit interest rates reaching 9% were completely unreasonable.

Source