Viet A Bank, PG Bank adjusted down

On the morning of October 5, Viet A Commercial Joint Stock Bank (Viet A Bank) reduced interest rates by 0.1 percentage points for deposit terms from 1-36 months.

For individual customers, the 1-5 month term is 4.6%/year, the 6 month term is 6%/year, the 7-11 month term is 6.1%/year and the 18-36 month term is 6.5%/year.

For online deposits with terms of 12-15 months, Viet A Bank reduced by 0.2 percentage points. The new interest rate for terms of 12 and 13 months is 6.3%/year, while the term of 15 months is 6.4%/year.

Also today, Petrolimex Commercial Joint Stock Bank (PG Bank) announced a reduction of 0.2-0.3 percentage points in deposit interest rates for terms from 6-36 months.

The 5-9 month term decreased by 0.3 percentage points to 5.3%/year, the 12 month term decreased by 5.4%/year. PG Bank adjusted the 13 month term deposit interest rate down by 0.2 percentage points to 5.5%/year and the 18 month term decreased by 6.2%/year.

The 24-36 month term decreased by 0.2 percentage points to 6.3%/year, while the deposit terms from 1-5 months remained at 4%/year.

Thus, since the beginning of October, 10 banks have reduced deposit interest rates, including: Viet A Bank, PG Bank, VietBank, Dong A Bank, Vietcombank, LPBank, Nam A Bank, CBBank, ACB and Bac A Bank.

Meanwhile, there was one bank that increased interest rates , GPBank, on October 4.

According to the State Bank of Vietnam, as of September 29, credit in the entire economy reached about VND12,749 trillion, up 6.92%. Although this increase has not met expectations, the following month is higher than the previous month, especially soaring in the second half of September, from 5.91% to 6.92% compared to the end of 2022.

Since the beginning of the year, the State Bank has targeted credit growth for the whole year of 2023 at about 14-15% (higher than growth in previous years), with adjustments appropriate to developments and actual situations.

The State Bank of Vietnam has continuously adjusted down the operating interest rates four times by 0.5-2%/year, in the context of world interest rates continuing to increase and remain at high levels.

Up to now, the market interest rate level has tended to decrease (average deposit and lending interest rates of new transactions have decreased by about 1% compared to the end of 2022).

HIGHEST DEPOSITS INTEREST RATES ON OCTOBER 5
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
PVCOMBANK	4.25	4.25	6.4	6.4	6.5	6.8
NCB	4.75	4.75	6.3	6.35	6.4	6.4
HDBANK	4.45	4.45	6.1	6.1	6.3	6.5
BAOVIETBANK	4.4	4.75	6.1	6.3	6.5	6.5
VIET A BANK	4.5	4.5	6	6.1	6.3	6.5
CBBANK	4.2	4.3	6	6.1	6.3	6.4
BAC A BANK	4.75	4.75	5.9	6	6.1	6.25
OCEANBANK	4.6	4.6	5.8	5.9	6.1	6.5
SCB	4.75	4.75	5.75	5.85	6.05	6.05
BVBANK	4.4	4.7	5.75	5.9	6.05	6.15
SHB	4	4.3	5.7	5.8	6.1	6.4
SAIGONBANK	3.6	4	5.7	5.7	5.9	5.9
VIETBANK	4.55	4.55	5.7	5.8	6	6.8
DONG A BANK	4.5	4.5	5.7	5.8	6.05	6.05
VIB	4.75	4.75	5.6	5.6		6.2
SACOMBANK	3.7	3.9	5.5	5.8	6.2	6.4
GPBANK	4.25	4.25	5.45	5.55	5.65	5.75
KIENLONGBANK	4.75	4.75	5.4	5.6	5.7	6.4
PG BANK	4	4	5.3	5.3	5.4	6.3
LPBANK	4.15	4.35	5.3	5.4	6.1	6.8
OCB	4.1	4.25	5.3	5.4	5.5	5.1
VPBANK	4.1	4.15	5.2	5.2	5.5	5.1
MB	3.6	3.6	5.2	5.3	5.6	6.3
SEABANK	4.5	4.5	5.2	5.35	5.5	5.5
EXIMBANK	4	4	5.2	5.5	5.6	5.8
NAMA BANK	4.65	4.65	5.2	5.3	5.8	6.4
TECHCOMBANK	3.65	3.85	5.15	5.2	5.45	5.45
ACB	3.5	3.7	5	5.1	5.5
TPBANK	3.8	4	5	5	5.55	6
MSB	3.8	3.8	5	5.4	5.5	5.5
ABBANK	3.7	3.9	4.9	4.9	4.7	4.4
VIETINBANK	3.4	3.85	4.7	4.7	5.5	5.5
AGRIBANK	3.4	3.85	4.7	4.7	5.5	5.5
BIDV	3.2	3.7	4.6	4.6	5.5	5.5
VIETCOMBANK	3	3.3	4.3	4.3	5.5	5.5