SeABank lowers deposit interest rates for all terms

Following the downward trend in deposit interest rates at banks since the beginning of 2024, Southeast Asia Commercial Joint Stock Bank (SeABank) has also adjusted its deposit interest rates downwards across many maturities.

Accordingly, in its online deposit interest rate schedule, this bank adjusted interest rates downwards by 0.2-0.25 percentage points for terms of 1-12 months. Specifically, deposit interest rates decreased to 3.4%/year for terms of 1-2 months; and 3.6%/year for terms of 3-5 months.

SeABank lists deposit interest rates at 4.15%/year for a 6-month term and 4.2%/year for a 7-month term. The interest rates for 8-month, 9-month, and 10-month terms are 4.25%/year, 4.3%/year, and 4.35%/year, respectively.

Deposit interest rates for 11-month terms are 4.4%/year and for 12-month terms are 4.75%/year. SeABank reduced interest rates for deposits with terms of 15-36 months by 0.1 percentage point to 5%/year. This is also the highest deposit interest rate offered by the bank at the moment.

Previously, on January 17th, five banks reduced deposit interest rates. Notably, three banks belonging to the Big4 group simultaneously lowered interest rates for terms under 12 months: Vietinbank, BIDV, and Agribank .

Accordingly, in VietinBank 's online deposit interest rate schedule, the bank simultaneously adjusted deposit interest rates down by 0.3 percentage points to 1.9%/year for 1-2 month terms and to 2.2%/year for 3-5 month terms.

Similarly, VietinBank also adjusted down the deposit interest rate for terms of 6-9 months by 0.3 percentage points, listing it at 3.2%/year.

BIDV has uniformly reduced deposit interest rates by 0.3 percentage points across all maturities from 1 to 11 months. Specifically, the bank lowered interest rates to 2%/year for 1-2 month maturities; 2.3%/year for 3-5 month maturities; and 3.3%/year for 6-11 month maturities.

BIDV maintains the deposit interest rates for remaining terms at 5%/year for 12-18 month terms and 5.3%/year for 24-36 month terms.

Agribank also uniformly reduced deposit interest rates by 0.2 percentage points for terms of 1-2 months and 6-11 months, bringing them down to 1.8%/year and 3.4%/year respectively. Notably, the bank sharply reduced the interest rate for terms of 3-5 months by 0.4 percentage points to 2.1%/year.

Thus, among the four state-owned banks, Vietcombank offers the lowest deposit interest rates, with 1.7% per year for 1-2 month deposits, 2% per year for 3-5 month deposits, 3% per year for 6-9 month deposits, and 4.7% per year for 12-24 month deposits.

Since the beginning of January, a total of 24 banks have reduced deposit interest rates, including BaoViet Bank, GPBank, Eximbank, SHB, Bac A Bank, Vietcombank, PVCombank, SCB, ABBank, NCB, KienLong Bank, VIB, TPBank, Viet A Bank, HDBank, VietBank, Techcombank, Agribank, BIDV, VietinBank, SeABank, LPBank, and OCB .

Source