Sharp decrease in the group of banks paying high interest rates

Vietnam Construction Commercial Joint Stock Bank (CBBank) has just sharply reduced interest rates for deposits with terms of 6 months.

According to the recently updated online deposit interest rate table, CBBank has simultaneously reduced bank interest rates for these terms by 0.6 percentage points.

Specifically, the 6-month term bank interest rate is now down to 5.1%/year, the 7-11 month term interest rate is down to 5.2%/year, the 12-month term interest rate is down to 5.4%/year, and the term of 13 months or more is 5.5%/year.

Thus, after this interest rate adjustment, there is no longer any deposit term at this "zero-dong bank" with an interest rate listed above 6%/year.

For short terms, CBBank keeps the deposit interest rate for 1-2 months at 4.2%/year, and for 3-5 months at 4.3%/year.

Meanwhile, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has also just adjusted down its short-term deposit interest rates.

Accordingly, HDBank's online deposit interest rate for terms of 1-5 months has been reduced from 4.05% to 3.85%/year.

HDBank keeps deposit interest rates for the remaining terms unchanged, with 6-month term interest rates at 5.7%/year, 7-11-month term at 5.5%/year, and 12-month term at 5.9%/year.

Deposit terms of 13 months or more are still listed by HDBank at over 6%/year, thereby becoming one of the banks paying the highest deposit interest rates for these terms.

Specifically, the interest rate for 13-month term deposits at HDBank is 6.1%/year, 15-month term deposits are 6.4%/year, the highest bank interest rate is for 18-month term deposits, up to 6.5%/year (equal to CBBank), while 24-36-month term deposits are 6.3%/year.

Except for HDBank and CBBank, interest rates at other banks remained unchanged today.

Up to this point, deposit interest rates for terms from 6-11 months have been brought down by all banks to below 6%/year, even below 5%/year.

For 12-month term deposits, except for OceanBank which still applies an interest rate of 6%/year, the remaining banks have brought the interest rate down to below 6%/year.

For the 18-month term, the interest rate of 6-6.3% is still popular, including OceanBank, HDBank, PVCombank, BaoVietBank, NCB, VietA Bank, KienLongBank, VietBank, SHB, OCB, LPBank, MB, MSB, PGBank, and Nam A Bank.

Since the beginning of November, 24 banks have reduced deposit interest rates, including Sacombank, NCB, VIB, BaoVietBank, Nam A Bank, VPBank, VietBank, SHB, Techcombank, Bac A Bank, KienLongBank, ACB, Dong A Bank, PG Bank, PVCombank, VietA Bank, SCB, Eximbank, OceanBank, BVBank, OCB, TPBank, CBBank, HDBank.

Among them, VietBank and Dong A Bank are the banks that have reduced interest rates twice this November.

On the contrary, OCB and BIDV are the banks that have increased their deposit interest rates since the beginning of the month. With OCB, the bank increased interest rates for terms from 18-36 months. Meanwhile, BIDV increased interest rates for terms from 6-36 months.

HIGHEST DEPOSITS INTEREST RATE TABLE ON NOVEMBER 16 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
OCEANBANK	4.6	4.6	5.8	5.9	6	6
HDBANK	3.85	3.85	5.7	5.5	5.9	6.5
PVCOMBANK	3.65	3.65	5.6	5.6	5.7	6
BAOVIETBANK	4.4	4.75	5.5	5.6	5.9	6.2
NCB	4.45	4.45	5.5	5.65	5.8	6
GPBANK	4.25	4.25	5.45	5.55	5.65	5.75
VIET A BANK	4.4	4.4	5.4	5.4	5.7	6.1
BAC A BANK	4.35	4.35	5.4	5.5	5.6	5.95
KIENLONGBANK	4.55	4.75	5.4	5.6	5.7	6.2
VIETBANK	3.8	4	5.4	5.5	5.8	6.2
BVBANK	4	4.15	5.25	5.4	5.5	5.55
OCB	3.8	4.1	5.2	5.3	5.5	6.2
SHB	3.5	3.8	5.2	5.4	5.6	6.1
SAIGONBANK	3.4	3.6	5.2	5.4	5.6	5.6
CBBANK	4.2	4.3	5.1	5.2	5.4	6.5
VIB	3.8	4	5.1	5.2		5.6
LPBANK	3.8	4	5.1	5.2	5.6	6
MB	3.5	3.8	5.1	5.2	5.4	6.1
EXIMBANK	3.6	3.9	5	5.3	5.6	5.7
SACOMBANK	3.6	3.8	5	5.3	5.6	5.75
VPBANK	3.7	3.8	5	5	5.3	5.1
MSB	3.8	3.8	5	5.4	5.5	6.2
SCB	3.75	3.95	4.95	5.05	5.45	5.45
DONG A BANK	3.9	3.9	4.9	5.1	5.4	5.4
PG BANK	3.4	3.6	4.9	5.3	5.4	6.2
NAMA BANK	3.6	4.2	4.9	5.2	5.7	6.1
ABBANK	3.7	4	4.9	4.9	4.7	4.4
TPBANK	3.6	3.8	4.8		5.35	5.7
SEABANK	4	4	4.8	4.95	5.1	5.1
TECHCOMBANK	3.55	3.75	4.75	4.8	5.25	5.25
AGRIBANK	3.4	3.85	4.7	4.7	5.5	5.5
VIETINBANK	3.4	3.75	4.6	4.6	5.3	5.3
ACB	3.3	3.5	4.6	4.65	4.7
BIDV	3.2	3.5	4.6	4.6	5.5	5.5
VIETCOMBANK	2.6	2.9	3.9	3.9	5	5