Specifically, BIDV uniformly reduced deposit interest rates by 0.3 percentage points for terms of 1-11 months. After the reduction, the interest rate for 1-2 month terms is only 2%/year; for 3-5 month terms it is only 2.3%/year, and for 6-11 month terms it is 3.3%/year.
Meanwhile, Agribank also reduced deposit interest rates by 0.2 percentage points for 1-2 month terms, to only 1.8%/year, and sharply reduced interest rates by 0.4 percentage points for 3-5 month terms to 2.1%/year.
For online deposit interest rates with terms of 6-11 months, Agribank reduced the interest rate by 0.2 percentage points to 3.4%/year.
At VietinBank , online deposit interest rates for 1-2 month terms are now only 1.9%/year after a 0.3 percentage point reduction. Interest rates for 3-5 month terms are now 2.2%/year after a similar reduction.
VietinBank has listed deposit interest rates for terms of 6-9 months at 3.2% per annum, a decrease of 0.3 percentage points compared to before.
Thus, all three state-owned commercial banks share the same interest rate for 12-36 month terms, ranging from 5-5.3% per year. Of these, Agribank and VietinBank have lowered interest rates for 1-2 month terms to below 2% per year.
To date, the Big4 firms have all lowered deposit interest rates in January 2024.
Also on the morning of January 17th, Saigon - Hanoi Commercial Joint Stock Bank (SHB) implemented its second deposit interest rate reduction since the beginning of the month, with a decrease of 0.1-0.2 percentage points for terms ranging from 1 to 12 months.
According to the online deposit interest rate schedule applied by SHB from January 17th, the interest rate for 1-month deposits decreased by 0.1 percentage point to 3.4%/year.
Interest rates for 2-month terms were adjusted down by 0.2 percentage points to 3.5%/year, while those for 3-month, 4-month, and 5-month terms all decreased by 0.1 percentage points, bringing the rates down to 3.7%, 3.8%, and 3.9%/year respectively.
Interest rates on deposits with terms of 6-8 months at SHB have also been brought back to 4.9%/year after a reduction of 0.1 percentage point.
Meanwhile, interest rates for 9-month terms decreased by another 0.2 percentage points to 5% per annum; and for 10- and 11-month terms, they decreased by 0.1 percentage points to 5.1% per annum.
This also represents a reduction in interest rates for 12- and 13-month term deposits, down to 5.3% and 5.4% per year, respectively.
Today marks the second time since the beginning of the month that interest rates at Vietnam International Commercial Bank (VIB) have been adjusted.
VIB's online deposit interest rate chart shows that interest rates for terms of 6-11 months have all decreased by 0.1 percentage point. The new interest rate for 6-11 month terms is now 4.5%/year.
Interest rates listed at bank counters on January 17th:
| Bank | Term: 3 months | 6-month term | 12-month term | 24-month term |
| Agribank | 2.1 | 3.2 | 5.0 | 5.3 |
| Vietcombank | 2.0 | 3.0 | 4.7 | 4.7 |
| Vietinbank | 2.2 | 3.2 | 5.0 | 5.3 |
| MB | 2.2 | 3.2 | 5.0 | 5.3 |
| AB Bank | 3.15 | 4.2 | 3.8 | 3.7 |
| ACB | 3.4 | 4.5 | 4.6 | 4.6 |
| Bac A Bank | 3.7 | 4.9 | 5.2 | 5,6 |
| Bao Viet Bank | 4.05 | 5.0 | 5.5 | 5.8 |
| CB Bank | 4.2 | 5,6 | 5.9 | 6.0 |
| Dong A Bank | 3.9 | 4.9 | 5.4 | 5,6 |
| Eximbank | 3.6 | 4.5 | 5.0 | 5.4 |
| HD Bank | 3.15 | 5.3 | 5.5 | 6.2 |
| GP Bank | 3.87 | 4.8 | 5.0 | 5.1 |
| Hong Leong Bank | 2.0 | 3.5 | 3.5 | 3.5 |
| Kien Long Bank | 3.75 | 5.0 | 5.3 | 5.8 |
| LP Bank | 2.5 | 3.5 | 5.0 | 5.3 |
| MBBANK | 3.1 | 4.3 | 4.8 | 6.0 |
| MSB | 3.3 | 4.2 | 5.1 | 5.8 |
| Nam A Bank | 4.0 | 4.7 | 5.42 | 5.65 |
| NCB | 4.25 | 5.2 | 5.55 | 5.85 |
| OCB | 3.5 | 4.7 | 5.0 | 6.2 |
| Oceanbank | 4.5 | 5.4 | 5.7 | 5.7 |
| PG University | 3.5 | 4.6 | 5.5 | 5.9 |
| PVCombank | 3.35 | 5.0 | 5.1 | 5.4 |
| Sacombank | 3.6 | 4.5 | 4.8 | 4.95 |
| Saigonbank | 3.5 | 4.9 | 5.4 | 5,6 |
| SCB | 3.7 | 4.7 | 5.4 | 5.4 |
| SeABank | 4.0 | 4.4 | 4.9 | 5.15 |
| SHB | 3.4 | 4.5 | 5.0 | 5.5 |
| Techcombank | 3.3 | 4.3 | 4.7 | 4.7 |
| TP-Bank | 3.2 | 4.0 | 4.9 | 5.2 |
| VBBank | 3.9 | 5.3 | 5.7 | 6.1 |
| VIB | 3.3 | 4.3 | 4.7 | 5.1 |
| Viet A Bank | 3.8 | 4.9 | 5.2 | 5.7 |
| Vietcapitalbank | 4.3 | 5.5 | 5.7 | 5.85 |
| VPBank | 3.6 | 4.3 | 5.0 | 4.9 |
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