Which bank has the highest interest rate now?
According to a survey by Lao Dong Newspaper reporters in the banking and financial market, the bank with the highest deposit interest rate is currently PVcomBank. Specifically, with a 12-month deposit term, PVcomBank is applying an attractive interest rate of up to 10%/year. This figure is much higher than the average of joint stock commercial banks today, which only fluctuates at 5-7%/year.
The reason PVcomBank can apply such a "huge" interest rate is because to enjoy this interest rate, customers need to have a minimum deposit of 2,000 billion VND.
Ranked second is HDBank, which applies an interest rate of 8.2%/year for a 13-month term with the condition of maintaining a minimum balance of VND 300 billion.
Statistics of banks with the highest savings interest rates today:
Forecasting the interest rate outlook in 2024, experts from KB Securities (KBSV) said that the mobilization interest rate level will continue to move sideways in the low range for most of 2024 due to the influence of a number of factors.
First, credit demand is likely to recover, but there will be few breakthroughs because the difficulties that have persisted since 2023 cannot be completely resolved next year.
Second, the State Bank's operating policy is still in the direction of loosening when inflation and exchange rate pressures cool down. Global inflation is forecast to continue its downward trend in 2024, supporting Vietnam's inflation stabilization trend. Regarding exchange rates, the FED's reversal to lower interest rates in 2024 will help exchange rate pressure no longer be too risky in 2024.
Compare highest bank interest rates for 3-month term
For the 3-month term, the banks with the highest interest rates are VRB and CB with an interest rate of 4.3%; NCB is 4.1% and Kienlong Bank is 3.95%/year. Meanwhile, Vietcombank only applies the lowest interest rate of 2%/year. Thus, the difference in interest rates between these two banks is up to 2.3 percentage points.
Interest rates on 6-month savings deposits at banks
With a 6-month term, CB is applying the highest mobilization interest rate in the market at 5.1%/year. Meanwhile, state-owned commercial banks such as Vietcombank only list interest rates at 3%. Agribank , BIDV and VietinBank only maintain a modest low interest rate of 3.2%/year. The difference between the highest and lowest interest rates for this term is up to 2.1 percentage points.
Want to save for 12 months, which bank has the highest interest rate?
Notably, at the 12-month term, the interest rate difference between banks is the largest. Specifically, PVcomBank is applying a record mobilization interest rate of 10%/year, twice as high as the average. Meanwhile, ABBank only maintains 4.4%/year - the lowest in the market. The difference is up to 5.6 percentage points.
Latest update of Agribank interest rates, Sacombank interest rates, SCB interest rates, Vietcombank interest rates... highest for 24-month term.
Finally, with a 24-month term, SHB is leading the market with an interest rate of 6.2%/year. While the lowest interest rate is 4.4%/year of ABBank. The difference between the highest and lowest interest rates is 1.8 percentage points.
Thus, customers can fully take advantage of the interest rate difference to maximize profits when depositing savings. However, it is necessary to carefully consider factors such as reputation, service quality, and risks when choosing a bank.
Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.
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