More banks pay deposit interest from 6%, will deposit interest rates continue to increase?

Deposit interest rates continued to increase in July, leading to a number of banks joining the group of banks paying deposit interest rates of 6%/year or higher for long terms.

There have been 10 commercial banks increased interest rate Since the beginning of July, including NCB, Eximbank, SeABank, VIB, BaoViet Bank, Saigonbank, VietBank, MB, BVBank and KienLong Bank.

Among them, BVBank and ABBank have raised their long-term deposit interest rates to 6%/year. Previously, the group of banks listed deposit interest rates from 6-6.1% including HDBank, OceanBank, OCB, NCB and SHB.

Specifically, the mobilization interest rate of 6.1%/year, the highest in the market today, is listed by HDBank for 12-month term deposits; NCB and OceanBank list for 18-36 month term deposits and SHB lists for 36-month term deposits.

The 6%/year interest rate is currently listed by OCB for 36-month term deposits, while BVBank has just applied this interest rate to 18-36 month term deposits.

Some banks are close to this interest rate when listing 5.9%/year for 18-36 month term deposits, including BaoViet Bank, VietBank and PGBank. Although MB Bank only listed 5%/year for 18-month term deposits, it also raised its 24-36 month term interest rate to 5.9%/year last week.

The trend of increasing deposit interest rates has made the interest rate of 5%/year for 6-month term deposits no longer rare. As of July 13, ABBank is leading with an interest rate of 5.6%/year for this term. Next are the banks: NCB (5.35%), KienLong Bank and Eximbank (5.2%/year), CB (5.15%), BaoViet Bank and BVBank all listed an interest rate of 5%/year.

Besides, there are a series of banks listing interest rates of 4.9%/year for a 6-month term, such as HDBank, VietBank, Bac A Bank and OCB.

For a 9-month term, there are 10 banks listing interest rates from 5%/year; in which, the highest is 5.8%/year at ABBank.

At some key terms such as 12-month term, the number of banks listing deposit interest rates from 5%/year or more has reached 23 banks. Of which, ABBank leads when listing interest rates of 6%/year. BVBank, the bank that has just increased its deposit interest rates, ranks second with 5.8%/year.

The number of banks listing interest rates from 5%/year for 18-month terms is currently 26 banks, while for 24 and 36-month terms there are 28 banks.

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON JULY 13, 2024 (IN ORDER OF TERM 24 - 36 MONTHS)
BANK	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS	24 MONTHS	36 MONTHS
NCB	5.35	5.55	5.7	6.1	6.1	6.1
OCEANBANK	4.8	4.9	5.5	6.1	6.1	6.1
BVBANK	5.1	5.5	5.8	6	6	6
BAOVIETBANK	5.1	5.2	5.6	5.9	5.9	5.9
VIETBANK	4.9	4.7	5.3	5.9	5.9	5.9
PGBANK	4.5	4.5	5.3	5.8	5.9	5.9
MB	4.4	4.4	5.1	5	5.9	5.9
GPBANK	4.85	5.2	5.75	5.85
VIET A BANK	4.8	4.8	5.4	5.7
SHB	4.7	4.8	5.2	5.5
OCB	4.9	5	5.2	5.4
ABBANK	5.6	5.8	6	5.7	5.7	5.7
KIENLONGBANK	5.2	5.3	5.6	5.7	5.7	5.7
NAM A BANK	4.6	5.1	5.4	5.7	5.7	5.7
SEABANK	4.2	4.4	4.95	5.7	5.7	5.7
SAIGONBANK	4.1	4.4	5.3	5.6	5.7	5.8
TPBANK	4.5		5.2	5.4	5.7	5.7
BAC A BANK	4.9	5	5.5	5.6	5.6	5.6
LPBANK	4.7	4.8	5.1	5.6	5.6	5.6
VPBANK	4.7	4.7	5.2	5.2	5.6	5.6
CBBANK	5.15	5.1	5.3	5.55	5.55	5.55
HDBANK	4.9	4.7	5.5	6.1	5.5	5.5
PVCOMBANK	4.3	4.3	4.8	5.5	5.5	5.5
MSB	4.6	4.6	5.4	5.4	5.4	5.4
EXIMBANK	5.2	4.5	5	5.1	5.2	5.2
SACOMBANK	4	4.1	4.9	5.1	5.2	5.4
VIB	4.3	4.4		4.9	5.1	5.1
VIETINBANK	3.3	3.3	4.7	4.7	5	5
TECHCOMBANK	4.25	4.25	4.95	4.95	4.95	4.95
BIDV	3.3	3.3	4.7	4.7	4.8	4.8
AGRIBANK	3	3	4.7	4.7	4.7	4.7
DONG A BANK	4	4.2	4.5	4.7	4.7	4.7
VIETCOMBANK	2.9	2.9	4.6	4.6	4.7	4.7
SCB	2.9	2.9	3.7	3.9	3.9	3.9
ACB	3.9	4	4.7