KienlongBank is the latest bank to announce a reduction in deposit interest rates starting today (June 1). According to the online deposit interest rate schedule for individual customers, the 6-month term has decreased by 1%, down to 6.7%/year.
Interest rates for 9-month deposits also dropped sharply by 1%, down to only 6.9%/year.
Not stopping there, the bank also reduced the 12-month deposit interest rate by 0.7% to 7.1%/year. The 13-18 month terms were simultaneously reduced by 0.3% to 7.3%/year.
With a reduction of up to 1% on 6-9 month term deposit interest rates as above, KienLong Bank is the bank that “plays big” in this interest rate reduction. Since the beginning of May, this is also the only bank that has boldly reduced interest rates by up to 1% in just one time.
Notably, this is the third time within 1 month that KienLong Bank has reduced deposit interest rates.
Saigonbank also continues to reduce deposit interest rates from today and this is also the third time in the past month that this bank has announced a reduction in interest rates.
Accordingly, online deposit interest rates for 6-8 month and 9-11 month terms decreased by 0.2%, to 7.4%/year and 7.3%/year, respectively.
This is also a reduction for 12-13 month terms. Currently, the interest rate for 12-month terms is 7.6%/year; for 13-month terms is 8.2%/year.
For terms of 18 months or more, Saigonbank still maintains the interest rate of 7.4%/year.
According to VietNamNet statistics from the beginning of May until now, banks that have reduced deposit interest rates include: VietA Bank, VIB, OCB, Eximbank, MSB, VPBank, TPBank, Vietcombank, Agribank, VietinBank, BIDV, KienLongBank, NamA Bank, NCB, Saigonbank, PVCombank, HDBank, OceanBank, Sacombank, Techcombank, BacA Bank, SCB, DongA Bank, VietBank, MB, SeABank, ACB, LPBank and BaoViet Bank.
Banks that reduced interest rates twice during this period are Eximbank, VPBank, BIDV, VietinBank, Vietcombank, Agribank, TPBank, BacA Bank, OCB, MSB, NamA Bank, and Techcombank.
OCB, NCB, VietA Bank, KienLongBank, Saigonbank and Sacombank have reduced deposit interest rates three times in less than a month.
VietBank alone has reduced deposit interest rates four times since the beginning of May.
| HIGHEST INTEREST RATES AT BANKS ON JUNE 1 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| GPBANK | 5 | 5 | 8.3 | 8.4 | 8.5 | 8.6 |
| ABBANK | 5 | 5 | 8.2 | 8.2 | 8.3 | 8.5 |
| VIETA BANK | 5 | 5 | 8 | 8 | 8.2 | 8.2 |
| PVCOMBANK | 5 | 5 | 7.5 | 7.9 | 8.2 | 8.3 |
| NCB | 5 | 5 | 8.1 | 8.1 | 8.15 | 8.05 |
| OCB | 4.8 | 4.95 | 8 | 8.1 | 8.1 | 7.9 |
| BAOVIETBANK | 5 | 5 | 7.7 | 7.8 | 8.1 | 7.8 |
| HDBANK | 5 | 5 | 8.1 | 6.9 | 8.1 | 7.1 |
| VIETCAPITAL BANK | 4.5 | 4.8 | 7.4 | 7.7 | 8 | 8.3 |
| NAMA BANK | 5 | 5 | 8 | 8.1 | 8 | 7.8 |
| BACA BANK | 5 | 5 | 7.7 | 7.8 | 7.9 | 8.1 |
| SHB | 5 | 5 | 7.5 | 7.5 | 7.9 | 8 |
| SCB | 5 | 5 | 7.8 | 7.8 | 7.85 | 7.65 |
| VIETBANK | 5 | 5 | 7.8 | 7.7 | 7.8 | 7.8 |
| OCEANBANK | 5 | 5 | 7.6 | 7.7 | 7.8 | 8.1 |
| TPBANK | 4.8 | 5 | 7.6 | 7.7 | 7.5 | |
| VPBANK | 4.9 | 4.9 | 7.7 | 7.9 | 7.7 | 6.9 |
| SAIGONBANK | 5 | 5 | 7.2 | 7.3 | 7.6 | 7.4 |
| EXIMBANK | 5 | 5 | 7.5 | 7.5 | 7.6 | 7.6 |
| CBBANK | 3.9 | 3.95 | 7.2 | 7.3 | 7.5 | 7.55 |
| PGBANK | 5 | 5 | 7.3 | 7.3 | 7.5 | 7.5 |
| MSB | 5 | 5 | 7.3 | 7.3 | 7.4 | 7.4 |
| SACOMBANK | 5 | 5 | 6.8 | 7.1 | 7.4 | 7.7 |
| SEABANK | 5 | 5 | 7.1 | 7.19 | 7.4 | 7.6 |
| LPBANK | 4.8 | 4.8 | 7.2 | 7.2 | 7.3 | 7.9 |
| MB | 4.8 | 4.8 | 6.5 | 6.6 | 7.2 | 7.3 |
| KIENLONGBANK | 5 | 5 | 6.7 | 6.9 | 7.1 | 7.3 |
| ACB | 5 | 5 | 7 | 7.05 | 7.1 | |
| BIDV | 4.6 | 5 | 6.2 | 6.2 | 6.9 | 6.8 |
| TECHCOMBANK | 4.7 | 4.7 | 6.9 | 6.9 | 6.9 | 6.9 |
| VIETINBANK | 4.5 | 4.9 | 6 | 6 | 6.8 | 6.8 |
| VIETCOMBANK | 4.5 | 5 | 6 | 6 | 6.8 | |
| AGRIBANK | 4.7 | 4.9 | 6.6 | 6.6 | 6.8 | 6.6 |
| DONGA BANK | 4.5 | 4.5 | 6.35 | 6.45 | 6.7 | 6.9 |
| VIB | 5 | 5 | 7.7 | 7.8 | 7.9 | |
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