Which bank has the highest interest rate now?
PVcomBank has led the market by applying interest rates of up to 11%/year for 12-13 month deposit terms and requiring a minimum deposit of VND2,000 billion.
Ranked second is HDBank, which applies a rate of 8.6%/year for a 13-month term with the condition of maintaining a minimum balance of 300 billion VND.
Statistics of banks with the highest savings interest rates today:
VND interest rates on the interbank market have begun to approach the 1-3 month term savings interest rates on the market 1. Therefore, ACBS analysts believe that if this interest rate increases further and is maintained for a period of time, it will be possible to push banks to increase savings interest rates again, thereby creating a "domino" effect on the system.
Meanwhile, the exchange rate has increased sharply and is not far from the peak of 24,888 VND/USD in 2022. Therefore, any upward fluctuations in interest rates or exchange rates in the coming days may lead to the State Bank applying new policies to achieve the goal of stability and balance.
Analysts predict that the State Bank will have two short-term solutions.
Firstly, to let the balance of maturing bills and cash flow return to the interbank market. From there, liquidity and interest rates in the interbank market cool down. The ultimate goal is that interbank interest rates are high, close to the interest rates of the 1-3 month market, but do not create a race to increase interest rates in the 1 market.
Second, in case the liquidity regulation tool through treasury bills is not effective, the exchange rate continues to increase rapidly, and interest rates remain high, the State Bank can consider using the option of selling USD forward for 3-6 months and allowing banks to cancel.
Compare highest bank interest rates for 3-month term
Interest rates for 6-month savings deposits at banks:
Want to save for 12 months, which bank has the highest interest rate?
Latest update of Agribank interest rates , Sacombank interest rates, SCB interest rates, Vietcombank interest rates... highest for 24-month term.
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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