The Vietnam Investment and Development Bank ( 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, effective today.
According to the online deposit interest rate chart, the rate for 1-2 month terms increased to 2%/year, 3-5 month terms to 2.3%/year, and 6-11 month terms to 3.3%/year.
BIDV maintains the same deposit interest rates for remaining terms. The interest rate for 11-18 month terms is 4.7%/year, and for 24-36 month terms is 4.8%/year.
Recently, another bank in the Big 4 group, VietinBank , also increased deposit interest rates. However, after increasing by 0.2 percentage points, VietinBank reduced deposit interest rates by 0.1 percentage points yesterday.
With the interest rate increase, BIDV is the bank with the highest deposit interest rates (among the group of 4 state-owned commercial banks) for terms from 1 to 11 months.
Furthermore, interest rates for terms of 1-11 months at BIDV are up to 0.4 percentage points higher than those at Agribank and Vietcombank.
Also today, Construction Bank (CB) uniformly increased deposit rates by 0.5 percentage points for terms ranging from 6 to 36 months. Specifically, the 6-month term is 4.5%/year, 7-11 months is 4.45%/year, and 12 months is 4.65%/year. The 13-36 month term has the highest interest rate at 4.9%/year.
CB maintained deposit interest rates at 3.1%/year for terms of 1-2 months and 3.3%/year for terms of 3-5 months.
Apart from CB and BIDV, deposit interest rates at other banks remained unchanged this morning.
Since the beginning of April, a number of banks have increased deposit interest rates, including: HDBank, MSB, Eximbank, NCB, VPBank, KienLong Bank, VietinBank, Bac A Bank, GPBank, OceanBank, BVBank, PVComBank, CB, and BIDV.
VPBank was the first bank to raise interest rates for the second time this month. Prior to this, VPBank, Eximbank, SHB, and Saigonbank had already increased interest rates.
Some banks, such as NCB and Eximbank, have adjusted interest rates upwards for certain maturities while simultaneously lowering them for others.
Among the banks that have reduced deposit interest rates since the beginning of the month are: Vietcombank, PGBank, SCB, Techcombank, ABBank, Dong A Bank, Viet A Bank, Eximbank, Nam A Bank, NCB, VIB, and VietinBank. Of these, SCB has adjusted its deposit interest rates downwards twice.
| TABLE OF HIGHEST DEPOSIT INTEREST RATES 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 | |
| MB | 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 VND 89,463 billion into the open market. Through repurchase agreements, the SBV injected VND 32,863.1 billion (7-day maturity, average interest rate 4%). New treasury bills issued totaled VND 13,100 billion (28-day maturity, average interest rate 3.64%), while 69,700 bills issued previously matured.
Interbank interest rates for overnight and one-week maturities decreased by 0.25% and 0.09% respectively, to 3.93% and 4.24%, while the two-week interbank rate remained at 4.24%. The State Bank of Vietnam's net injection of liquidity for three consecutive weeks has helped improve market liquidity, pushing interbank interest rates down.
HA (according to Vietnamnet)Source
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