National Commercial Joint Stock Bank (NCB) has officially reduced deposit interest rates for terms from 1 to 12 months starting today. This is the second time the bank has reduced deposit interest rates since the beginning of November.
According to NCB's online deposit interest rate table, the bank interest rate for 1-5 month term decreased by 0.2 percentage points to 4.25%/year.
Interest rates for 6-8 month terms decreased slightly by 0.1 percentage point to 5.35%/year; interest rates for 9-11 month terms also decreased by 0.1 percentage point to 5.45%/year.
For 12-month term deposits, NCB reduced interest rates by 0.1 percentage points to 5.7%/year.
Meanwhile, the bank kept the interest rate for 13-month deposits at 5.8%/year and the interest rate for 15-60-month deposits at 6%/year.
Also reducing interest rates is Global Petroleum Bank (GPBank). This is the first time GPBank has reduced interest rates since the beginning of November.
According to GPBank's new online deposit interest rate schedule, bank interest rates for all terms have decreased by 0.2 - 0.3 percentage points. The 1 - 5 month term has decreased by 0.2 percentage points to 4.05%/year.
Bank interest rates for 6-month terms also decreased to 5.25%/year, 7-8-month terms to 5.3%/year, 9-month terms to 5.35%/year, 12-month terms to 5.45%/year, and 13-36-month terms to 5.55%/year.
Meanwhile, Techcombank reduced interest rates for long-term deposits from 12 to 36 months.
According to the online interest rate table for deposits under 1 billion VND, the interest rate for 12-36 month terms decreased slightly by 0.1 percentage point to 5.15%/year.
Techcombank still keeps the deposit interest rates for the remaining terms. 1-2 month term is 3.55%/year, 3-5 month term is 3.75%/year, 6-8 month term is 4.75%/year, and 9-11 month term is 4.8%/year.
The above interest rate for 1-5 month term deposits is also applied by Techcombank to both online deposits from 1 billion VND to 3 billion VND and from 3 billion VND or more.
However, for term deposits of 6 months or more, this bank adds an interest rate of 0.05%/year compared to the lower deposit level.
This is also the second time Techcombank has reduced deposit interest rates this November.
Except for Techcombank, NCB and GPBank, interest rates at other banks remain unchanged.
Since the beginning of November, 26 banks have reduced deposit interest rates, including Sacombank, NCB, VIB, BaoVietBank, Nam A Bank, VPBank, VietBank,SHB , Techcombank, Bac A Bank, KienLongBank, ACB, Dong A Bank, PG Bank, PVCombank, VietA Bank, SCB, Eximbank, OceanBank, BVBank, OCB, TPBank, CBBank, HDBank, SeABank, GPBank.
Among them, VietBank, Dong A Bank,VIB , NCB, Techcombank are the banks that have reduced interest rates twice this November.
On the contrary, VIB, OCB and BIDV are the banks that have increased their deposit interest rates since the beginning of the month. With OCB, the bank increased interest rates for terms from 18 to 36 months. Meanwhile, BIDV increased interest rates for terms from 6 to 36 months, and VIB increased interest rates for terms from 2 to 5 months.
| HIGHEST INTEREST RATES AT BANKS ON NOVEMBER 21 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| HDBANK | 3.85 | 3.85 | 5.7 | 5.5 | 5.9 | 6.5 |
| PVCOMBANK | 3.65 | 3.65 | 5.6 | 5.6 | 5.7 | 6 |
| OCEANBANK | 4.3 | 4.5 | 5.5 | 5.6 | 5.8 | 5.8 |
| BAOVIETBANK | 4.4 | 4.75 | 5.5 | 5.6 | 5.9 | 6.2 |
| VIETBANK | 3.8 | 4 | 5.4 | 5.5 | 5.8 | 6.2 |
| KIENLONGBANK | 4.55 | 4.75 | 5.4 | 5.6 | 5.7 | 6.2 |
| VIET A BANK | 4.4 | 4.4 | 5.4 | 5.4 | 5.7 | 6.1 |
| BAC A BANK | 4.35 | 4.35 | 5.4 | 5.5 | 5.6 | 5.95 |
| NCB | 4.25 | 4.25 | 5.35 | 5.45 | 5.7 | 6 |
| GPBANK | 4.05 | 4.05 | 5.25 | 5.35 | 5.45 | 5.55 |
| BVBANK | 4 | 4.15 | 5.25 | 5.4 | 5.5 | 5.55 |
| OCB | 3.8 | 4.1 | 5.2 | 5.3 | 5.5 | 6.2 |
| SHB | 3.5 | 3.8 | 5.2 | 5.4 | 5.6 | 6.1 |
| SAIGONBANK | 3.4 | 3.6 | 5.2 | 5.4 | 5.6 | 5.6 |
| LPBANK | 3.8 | 4 | 5.1 | 5.2 | 5.6 | 6 |
| CBBANK | 4.2 | 4.3 | 5.1 | 5.2 | 5.4 | 5.5 |
| MB | 3.5 | 3.8 | 5.1 | 5.2 | 5.4 | 6.1 |
| VIB | 3.8 | 4 | 5.1 | 5.2 | 5.6 | |
| MSB | 3.8 | 3.8 | 5 | 5.4 | 5.5 | 6.2 |
| EXIMBANK | 3.6 | 3.9 | 5 | 5.3 | 5.6 | 5.7 |
| SACOMBANK | 3.6 | 3.8 | 5 | 5.3 | 5.6 | 5.75 |
| VPBANK | 3.7 | 3.8 | 5 | 5 | 5.3 | 5.1 |
| SCB | 3.75 | 3.95 | 4.95 | 5.05 | 5.45 | 5.45 |
| PG BANK | 3.4 | 3.6 | 4.9 | 5.3 | 5.4 | 6.2 |
| NAMA BANK | 3.6 | 4.2 | 4.9 | 5.2 | 5.7 | 6.1 |
| DONG A BANK | 3.9 | 3.9 | 4.9 | 5.1 | 5.4 | 5.6 |
| ABBANK | 3.7 | 4 | 4.9 | 4.9 | 4.7 | 4.4 |
| TPBANK | 3.6 | 3.8 | 4.8 | 5.35 | 5.7 | |
| TECHCOMBANK | 3.55 | 3.75 | 4.75 | 4.8 | 5.15 | 5.15 |
| AGRIBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| BIDV | 3.2 | 3.5 | 4.6 | 4.6 | 5.5 | 5.5 |
| VIETINBANK | 3.4 | 3.75 | 4.6 | 4.6 | 5.3 | 5.3 |
| SEABANK | 3.8 | 4 | 4.6 | 4.75 | 5.1 | 5.1 |
| ACB | 3.3 | 3.5 | 4.6 | 4.65 | 4.7 | |
| VIETCOMBANK | 2.6 | 2.9 | 3.9 | 3.9 | 5 | 5 |
Since last week, the SBV's open market operations channel has not conducted any new transactions. With 55.9 trillion VND of treasury bills maturing, the total volume of treasury bills circulating in the market has sharply decreased to 98.7 trillion VND.
In case the State Bank does not have any new treasury bill transactions, the entire volume of treasury bills in circulation will mature in the first week of December, equivalent to the State Bank pumping back nearly 100 trillion VND into the system within the next 3 weeks.
Regarding interbank interest rates, overnight interest rates continued to cool down and ended the week at 0.3%, down 40 basis points from the previous week and returning to the same level as in early September, before the State Bank of Vietnam implemented the issuance of treasury bills.
Regarding the fluctuations of the USD, the USD/VND exchange rate has been positive as the exchange rate has cooled down. The interbank exchange rate ended last week at 24,271 VND/USD, equivalent to an increase in the VND price of about 0.3% and narrowing the depreciation to only 2.7% compared to the end of 2022.
Similarly, Vietcombank's listed exchange rate closed quickly cooling down to 24,045 - 24,415 VND/USD, down 55 VND compared to the previous weekend.
On the contrary, the exchange rate on the free market has the opposite trend with a slight increase of 50 VND. According to analysts, this is a factor that needs to be monitored as it can create risks to the exchange rate if the gap between the listed and free exchange rates widens to over 200 VND/USD.
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