More banks raise interest rates.

PGBank significantly increases interest rates.

According to Lao Dong newspaper, on July 18th, the Vietnam Prosperity and Development Commercial Bank (PGBank) issued a new interest rate schedule, recording an increase of up to 0.5 percentage points across some maturities.

PGBank's deposit interest rate schedule has been updated as follows:

Interest rates for 1-month terms remain unchanged at 3.2% per annum.

Interest rates for 3-month terms increased by 0.2 percentage points, to 3.7% per annum.

Interest rates for 6-9 month terms increased by 0.5 percentage points, to 5.0% per annum.

Interest rates for 12-month terms increased by 0.2 percentage points, to 5.5% per annum.

Interest rates for 18-month terms remain unchanged at 5.8% per annum.

Interest rates for 36-month terms remain unchanged at 5.9% per annum.

Latest updated deposit interest rate chart at PGBank. Screenshot.

Thus, PGBank is the 13th bank to increase interest rates since the beginning of July. The banks that have increased interest rates since the beginning of the month include: NCB, Eximbank, SeABank , VIB, BaovietBank, Saigonbank, VietBank, MB, BVBank, KienLong Bank, PVCombank, VPBank, and PGBank.

Which banks offer interest rates above 8.0%?

Currently, there are three banks on the market offering interest rates above 8% per year for 12-13 month terms: MSB, HDBank , and PVCombank.

Vietnam Maritime Commercial Bank (MSB) currently offers an interest rate of 8.0% per annum for a 13-month term, provided the deposit amount is 500 billion VND or more.

Ho Chi Minh City Development Commercial Bank (HDBank) lists an interest rate of 8.1% per year for a 13-month term. This applies to savings accounts with a minimum deposit of 500 billion VND or more.

PVCombank, a Vietnamese public commercial bank, currently offers the highest interest rate: 9.5% per year for a 12-month term, with a minimum deposit of 2,000 billion VND.

(See more banks with high interest rates HERE)

Details of savings interest rates at various banks, updated July 18, 2024.