4 major banks simultaneously lower savings interest rates

Specifically, Agribank has just adjusted the interest rate of online deposits down to 0.5%/year. This is also a rare time that Agribank has reduced the mobilization interest rate so sharply. Accordingly, the interest rate at this bank for a term of 1-2 months decreased by 0.5%/year to 2.7%/year, the term of 3-5 months decreased by 0.3%/year to 3.3%/year. The term of 6-11 months decreased to 4.2%/year, the term of 12-18 months decreased by 0.3%/year to 5%/year.

BIDV Bank today also adjusted its deposit interest rate down with the highest reduction of 0.4%/year.

Thus, the 1-2 month term decreased by 0.4%/year to 2.7%/year; the 3-5 month term decreased by 0.3%/year to 3.1%/year; the 6-11 month term decreased by 4.1%/year. The interest rate for the 12-18 month term is 5%/year. Previously, BIDV bank adjusted the interest rate twice on December 11 and December 12.

Meanwhile, VietinBank has adjusted down to 0.6%/year for terms under 6 months. This bank's interest rate is only 2.6%/year for terms of 1-2 months and 3%/year for terms of 3-5 months.

For 6-11 month terms, the reduction is 0.5%/year to only 4%/year, 12-18 month terms are reduced by 0.3%/year to 5%/year. Terms from 24 months and above remain at 5.5%/year. This is also the highest deposit interest rate at this bank.

The "Big 4" group continues to lower deposit interest rates. (Illustration: Finance Magazine)

Previously, in the Big 4 group, Vietcombank was the only bank that maintained a much lower deposit interest rate. And after the adjustment of these 3 banks, Vietcombank's savings interest rate is currently the lowest in the Big 4 group and the market. The 1-2 month term at Vietcombank is 2.2%/year, 3-5 months is 2.5%/year, 6-11 months is 3.5%/year, 12-18 months is 4.8%/year.

Since the beginning of December, 14 banks have reduced deposit interest rates: HDBank, Techcombank, Eximbank, KienLongBank, SCB, PGBank, MB, MSB, NamA Bank, ABBank, Vietcombank, BIDV, Agribank and VietinBank.

Interest rates posted at bank counters on December 13:

Bank	Term 03 months	Term 06 months	12 month term	24 month term
Agribank	3.0	4.0	5.0	5.3
Vietcombank	2.7	3.77	4.8	4.8
Vietinbank	3.0	4.0	5.0	5.3
BIDV	3.0	4.0	5.0	5.3
AB Bank	3.65	4.0	4.2	4.1
ACB	3.4	4.5	4.6	4.6
North Asia Bank	3.8	5.0	5.3	5.65
Bao Viet Bank	4.45	5.2	5.5	6.0
CB Bank	4.2	5.6	5.9	6.0
Dong A Bank	3.9	4.9	5.4	5.6
Eximbank	3.7	4.6	5.3	5.5
HD Bank	3.15	5.3	5.5	6.2
GP Bank	3.97	4.9	5.1	5.2
Hong Leong Bank	2.0	3.5	3.5	3.5
Kien Long Bank	4.35	5.2	5.5	6.0
LP Bank	3.7	4.8	5.3	6.1
MBBANK	3.3	4.5	4.9	6.2
MSB	3.3	4.5	5.1	5.8
Nam A Bank	4.0	4.7	5.0	5.9
NCB	4.25	5.2	5.55	5.85
OCB	3.9	5.0	5.3	6.2
Oceanbank	4.5	5.4	5.7	5.7
PG Bank	3.6	4.6	5.5	5.9
PVCombank	3.65	5.3	5.4	5.7
Sacombank	3.6	4.5	4.8	4.95
Saigonbank	3.5	4.9	5.4	5.6
SCB	3.7	4.7	5.4	5.4
SeABank	4.0	4.4	4.9	5.15
SHB	3.7	5.1	5.4	6.1
Techcombank	3.5	4.5	4.7	4.7
TPBank	3.8	4.6	4.6	6.0
VBBank	3.9	5.3	5.7	6.1
VIB	3.8	4.9	5.2	5.5
Viet A Bank	4.1	5.1	5.4	5.8
Vietcapitalbank	4.3	5.5	5.7	5.85
VPBank	3.75	4.8	5.3	4.9