Big 4 "big guys" increase deposit interest rates

Vietnam Joint Stock Commercial Bank for Investment and Development ( BIDV ) has increased deposit interest rates for the first time in over a year, by 0.2 percentage points for terms of 1-11 months from today.

According to the online interest rate table, 1-2 month term increases to 2%/year, 3-5 month term increases to 2.3%/year, 6-11 month term increases to 3.3%/year.

BIDV keeps the interest rates unchanged for the remaining terms. The interest rate for the 11-18 month term is 4.7%/year, and for the 24-36 month term is 4.8%/year.

Recently, another bank in the Big 4 group also increased its deposit interest rate, VietinBank . However, after increasing by 0.2 percentage points, VietinBank reduced its deposit interest rate by 0.1 percentage points yesterday.

With the interest rate increase, BIDV is the bank with the highest deposit interest rate (in the group of 4 State-owned commercial banks) with terms from 1-11 months.

Even the interest rate for 1-11 month terms at BIDV is 0.4 percentage points higher than Agribank and Vietcombank.

Also today, Construction Bank (CB) increased the deposit interest rate for terms from 6 to 36 months by 0.5 percentage points. Specifically, the 6-month term is 4.5%/year, 7-11 months is 4.45%/year, 12 months is 4.65%/year. The 13-36 month term has the highest interest rate of 4.9%/year.

CB keeps deposit interest rates for terms of 1-2 months at 3.1%/year, and for terms of 3-5 months at 3.3%/year.

Except for CB and BIDV, interest rates at other banks remained unchanged this morning.

Since the beginning of April, a series of banks have increased deposit interest rates, including: HDBank, MSB, Eximbank, NCB, VPBank, KienLong Bank, VietinBank, Bac A Bank, GPBank, OceanBank, BVBank, PVComBank, CB, BIDV.

Of which, VPBank is the first bank to increase interest rates for the second time this month. Previously, VPBank, Eximbank, SHB, Saigonbank increased interest rates.

Some banks such as NCB and Eximbank adjusted interest rates up for some terms while adjusting them down for the remaining terms.

Banks that have reduced deposit interest rates since the beginning of the month include: Vietcombank, PGBank, SCB, Techcombank, ABBank, Dong A Bank, Viet A Bank, Eximbank, Nam A Bank, NCB, VIB, VietinBank. Of which, SCB has reduced deposit interest rates twice.

HIGHEST INTEREST RATE TABLE ON APRIL 25 (%/YEAR)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
OCB	3	3.2	4.6	4.7	4.9	5.4
HDBANK	2.95	2.95	4.6	4.4	5	5.9
VIETBANK	3	3.4	4.5	4.7	5.2	5.8
CBBANK	3.1	3.3	4.5	4.45	4.65	4.9
NCB	3.2	3.5	4.45	4.65	5	5.5
KIENLONGBANK	3	3	4.4	4.8	5	5.5
BAC A BANK	2.95	3.15	4.35	4.45	4.85	5.25
NAM A BANK	2.7	3.4	4.3	4.7	5.1	5.5
BAOVIETBANK	3	3.25	4.3	4.4	4.7	5.5
VIET A BANK	2.9	3.2	4.3	4.3	4.8	5.1
PVCOMBANK	3.15	3.15	4.3	4.3	4.8	5.3
ABBANK	2.9	3	4.3	4.1	4.1	4.1
SHB	2.8	3	4.2	4.4	4.9	5.2
VPBANK	2.7	3	4.2	4.2	4.8	4.8
GPBANK	2.5	3.02	4.15	4.4	4.85	4.95
EXIMBANK	3	3.3	4.1	4.1	4.9	5.1
MSB	3.5	3.5	4.1	4.1	4.5	4.5
BVBANK	2.85	3.1	4.1	4.35	4.7	5.25
LPBANK	2.6	2.7	4	4.1	5	5.6
VIB	2.5	2.7	4	4		4.8
DONG A BANK	2.8	3	4	4.2	4.5	4.7
OCEANBANK	2.9	3.2	4	4.1	5.4	5.9
SAIGONBANK	2.3	2.5	3.8	4.1	5	5.6
PGBANK	2.6	3	3.8	3.8	4.3	4.8
TPBANK	2.5	2.8	3.8		4.7	5
SACOMBANK	2.3	2.7	3.7	3.8	4.7	4.9
MB	2.2	2.6	3.6	3.7	4.6	4.7
TECHCOMBANK	2.25	2.55	3.55	3.55	4.45	4.45
ACB	2.3	2.7	3.5	3.8	4.5
BIDV	2	2.3	3.3	3.3	4.7	4.7
SEABANK	2.7	2.9	3.2	3.4	3.75	4.6
VIETINBANK	1.8	2.1	3.1	3.1	4.7	4.7
AGRIBANK	1.6	1.9	3	3	4.7	4.7
VIETCOMBANK	1.6	1.9	2.9	2.9	4.6	4.6
SCB	1.6	1.9	2.9	2.9	3.7	3.9

Last week, the State Bank of Vietnam (SBV) injected a net amount of VND89,463 billion in the open market. Through the term purchase method, the SBV injected VND32,863.1 billion (7-day term, average interest rate 4%). The amount of newly issued treasury bills was VND13,100 billion (28-day term, average interest rate 3.64%), while 69,700 previously issued bills have matured.

Overnight and one-week interbank interest rates fell by 0.25% and 0.09% to 3.93% and 4.24%, respectively, while two-week interbank interest rates stood at 4.24%. The State Bank of Vietnam's net injection for three consecutive weeks has helped improve liquidity in the market, pushing down interbank interest rates.

HA (according to Vietnamnet)

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