SHB increases deposit interest rates effective March 26th.

Saigon - Hanoi Commercial Joint Stock Bank (SHB ) recently adjusted and increased deposit interest rates for some maturities.

Accordingly, in the latest online deposit interest rate schedule of this bank, the interest rates for 1-month and 2-month term deposits have been adjusted upwards by 0.2 and 0.1 percentage points respectively, both reaching 2.8%/year.

SHB increased the interest rate on 12-month term deposits by 0.1 percentage point to 4.9%/year. Similarly, the bank also increased the interest rate on 18-month term deposits by 0.1 percentage point to 5.2%/year. For 13-15 month terms, the interest rate increased by 0.2 percentage points to 5%/year. For other deposit terms, SHB maintained the same interest rates.

Prior to SHB, Eximbank had increased interest rates on 1-3 month term deposits since March 22nd, and Saigonbank increased interest rates on 18-36 month term deposits since March 19th.

Conversely, following the general trend among banks, Viet Capital Commercial Bank (BVBank) has also adjusted its deposit interest rates downwards. This marks the third time this month that the bank has reduced interest rates.

Accordingly, BVBank has adjusted interest rates for deposits with terms from 1 to 12 months down by 0.15 percentage points. For deposits with terms from 18 to 24 months, the bank has reduced them by 0.25%.

Specifically, in its latest online deposit interest rate schedule, BVBank offers interest rates of 2.85%/year for a 1-month term, 4.05%/year for a 3-month term, 4.05%/year for a 6-month term, 4.35%/year for a 9-month term, and 4.65%/year for a 12-month term.

After a 0.25 percentage point reduction, BVBank's interest rate for an 18-month term is 5.25% per year, and for a 24-month term it is 5.35% per year.

Previously, Vietnam Technological and Commercial Bank ( Techcombank ) also adjusted and reduced deposit interest rates for 1-2 month terms.

Accordingly, in Techcombank's online deposit interest rate chart, the bank has reduced the interest rate for deposits with a term of 1-2 months by 0.2 percentage points to 2.25%/year.

Vietnam International Commercial Bank (VIB ) has also adjusted its deposit interest rates downwards. Accordingly, the bank reduced interest rates by 0.1 percentage points for deposits with maturities of 6-18 months.

Specifically, according to VIB's latest online deposit interest rate chart, interest rates have decreased to 4%/year for terms of 6-11 months and to 4.8%/year for terms of 15-18 months.

Thus, since the beginning of March, 25 commercial banks have reduced deposit interest rates, including: PGBank, NCB, KienLong Bank, BVBank, Dong A Bank, MB, Techcombank, Saigonbank, BIDV, Sacombank, BaoViet Bank, GPBank, PVCombank, Agribank, SCB, ABBank, ACB, Agribank, VPBank, SeABank, CBBank, OceanBank, TPBank, VietinBank, and VIB .

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