Which term deposit is best?

This morning, September 21, VietinBank officially posted a new online deposit interest rate schedule. The bank adjusted the interest rate for 1-2 month deposits up 0.2 percentage points to 3.4%/year.

VietinBank reduced the interest rate for 3-5 month deposits by 0.15 percentage points to 3.85%/year. The interest rate for 6-9 month deposits remains at 4.7%/year (equal to Agribank, 0.1 and 0.2 percentage points higher than BIDV and Vietcombank, respectively, for the same term).

Online deposit interest rates for terms from 12-36 months decreased by 0.3 percentage points to 5.5%/year.

Thus, all four state-owned commercial banks are listing their 12-36 month term deposit interest rates at 5.5%/year. This is also the lowest rate on the market today.

OceanBank reduced the interest rate for deposits with terms from 1 to 5 months by 0.15 percentage points to 4.6%/year. OceanBank also reduced the interest rate for deposits with terms from 6 to 36 months by 0.3 percentage points.

Accordingly, the online mobilization interest rate for 5-8 month term is 5.8%/year. 9-11 month term is 5.9%/year; 12-13 month term is 6.1%/year. 15 month term is 6.3%/year and 18-36 month term is reduced to 6.5%/year.

OceanBank listed the interest rate at the counter 0.1 percentage point lower than online for each deposit term of 6 months or more. Meanwhile, the interest rate for deposits with terms of less than 6 months has no difference between the two forms of deposit.

MSB Bank has reduced interest rates for the second time this month. In this adjustment, MSB only reduced interest rates for terms from 1-8 months. Specifically, online mobilization interest rates for terms from 1-5 months decreased by 0.2 percentage points to 4%/year. Terms from 6-8 months also decreased by 0.2 percentage points to 5.2%/year.

MSB still maintains the interest rate for the remaining terms. The 9-11 month term has an interest rate of 5.4%/year and the 12-36 month term is 5.5%/year.

However, the bank still maintains the "special interest rate" of 6%/year for deposits with terms of 12 months, 15 months and 24 months for customers opening new deposit accounts.

Currently, 16 commercial banks have lowered their deposit interest rates for all terms to below 6%/year.

According to statistics, from the beginning of September until now, 29 banks have reduced interest rates including: Eximbank, BacA Bank, PG Bank, Saigonbank, MB, OCB, Sacombank, SHB, GPBank, Techcombank, ACB, Nam A Bank, KienLongBank, TPBank, CBBank, MSB, Viet A Bank., BaoVietBank, PVCombank, Agribank, NCB, BVBank, Vietcombank, BIDV, SeABank, Dong A Bank, ABBank, OceanBank, and VietinBank.

Of which, Viet A Bank, MB, ACB, Techconbank, Eximbank, Nam A Bank, MSB and GPBank have reduced interest rates twice since the beginning of the month.

OCB alone has reduced interest rates three times since the beginning of September.

HIGHEST DEPOSITS INTEREST RATE TABLE ON SEPTEMBER 21 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
VIETCOMBANK	3	3.5	4.5	4.5	5.5	5.5
BIDV	3.2	3.7	4.6	4.6	5.5	5.5
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
NCB	4.75	4.75	6.6	6.65	6.7	6.6
VIETBANK	4.75	4.75	6.6	6.7	6.7	6.6
HDBANK	4.75	4.75	6.6	6.7	6.8	6.8
PVCOMBANK	4.25	4.25	6.4	6.4	6.5	6.8
SCB	4.75	4.75	6.35	6.35	6.45	6.35
CBBANK	4.2	4.3	6.3	6.4	6.6	6.7
LPBANK	4.35	4.35	6.3	6.3	6.4	6.8
DONG A BANK	4.5	4.5	6.2	6.3	6.55	6.75
BAC A BANK	4.75	4.75	6.2	6.25	6.3	6.4
VIET A BANK	4.6	4.6	6.1	6.2	6.5	6.5
BAOVIETBANK	4.4	4.75	6.1	6.3	6.5	6.5
SHB	4.5	4.75	6.1	6.2	6.4	6.4
PG BANK	4.45	4.45	6	6	6.1	6.6
ABBANK	4.5	4.5	5.9	5.6	5.6	5.3
OCEANBANK	4.6	4.6	5.8	5.9	6.1	6.5
BVBANK	4.4	4.7	5.75	5.9	6.05	6.15
SAIGONBANK	3.6	4	5.7	5.7	5.9	5.9
NAMA BANK	4.65	4.65	5.6	5.9	6.3	6.7
VIB	4.75	4.75	5.6	5.6		6.2
SACOMBANK	3.7	3.9	5.5	5.8	6.2	6.4
VPBANK	4.4	4.45	5.5	5.5	5.8	5.1
KIENLONGBANK	4.75	4.75	5.4	5.6	5.7	6.4
TECHCOMBANK	3.85	4	5.35	5.4	5.55	5.55
OCB	4.1	4.25	5.3	5.4	5.5	5.9
ACB	3.6	3.8	5.3	5.3	5.5
MSB	4	4	5.2	5.4	5.5	5.5
MB	3.6	3.8	5.2	5.3	5.6	6.3
SEABANK	4.45	4.45	5.2	5.35	5.5	5.5
EXIMBANK	4	4	5.2	5.5	5.6	5.8
GPBANK	4.25	4.25	5.15	5.25	5.35	5.45
TPBANK	3.8	4	5	5	5.55	6