Deposit money at 4 major banks with highest interest rate of 5.2%/year

Deposit interest rates have increased again in the past two months, however the increase is mainly concentrated in the group of private joint stock commercial banks.

Meanwhile, the mobilization interest rates of the group of state-owned commercial banks including Agribank, Vietcombank, VietinBank and BIDV (Big 4 group) are almost flat.

Except for VietinBank, which adjusted its interest rates for 1-11 month terms up by 0.1-0.3% per year, the interest rates of the remaining three banks have remained unchanged over the past two months.

In fact, interest rates at Agribank, Vietcombank and BIDV have only decreased, not increased, for more than a year, since the beginning of 2023.

With VietinBank, although there is an adjustment to increase the mobilization interest rate, the interest rate table of this bank is not different from BIDV, with deposits of terms from 1-18 months. The mobilization interest rate at these two banks is slightly higher than the other two banks in the Big4 group.

Specifically, BIDV and VietinBank both listed the interest rate for 1-2 month term deposits at 2%/year, 3-5 month term deposits at 2.3%/year, 6-11 month term deposits at 3.3%/year and 12-18 month term deposits at 4.7%/year.

However, the difference occurs in the 24-36 month term when VietinBank has long listed an interest rate of 5%/year for deposits of these terms, while both BIDV and Agribank still maintain it at 4.7%/year for deposits of terms from 12-36 months.

INTEREST RATES FOR ONLINE DEPOSITS OF STATE COMMERCIAL BANKS LISTED ON JULY 11
TERM	VIETINBANK	BIDV	AGRIBANK	VIETCOMBANK
1 MONTH	2	2	1.6	1.6
3 MONTHS	2.3	2.3	1.9	1.9
6 MONTHS	3.3	3.3	3	2.9
9 MONTHS	3.3	3.3	3	2.9
12 MONTHS	4.7	4.7	4.7	4.6
18 MONTHS	4.7	4.7	4.7	4.6
24 MONTHS	5	4.7	4.7	4.7
36 MONTHS	5	4.7	4.7	4.7

Notably, VietinBank recently increased deposit interest rates without officially announcing them by posting a new interest rate schedule. Instead, when customers choose deposit terms, the bank will offer options with preferential interest rates for each term.

Specifically, VietinBank will add interest rates for customers at a rate of 0.3-0.4%/year compared to the listed rate when depositing for a term of 1-11 months; and at the same time add 0.2%/year compared to the listed rate for customers depositing for a term of 24-36 months.

Thus, the highest interest rate at VietinBank can be up to 5.2%/year if customers choose to deposit for a term of 24-36 months.

The lowest interest rate in the Big 4 banking group, and also the lowest in the market today, belongs to Vietcombank. This bank still maintains the interest rate for 1-2 month term at only 1.6%/year, 3-5 month term at 1.9%/year, 6-11 month term at 2.9%/year, 12-18 month term at 4.6%/year and 24-36 month term at 4.7%/year.

According to statistics, since the beginning of July, 8 commercial banks have increased their deposit interest rates, including NCB, Eximbank, SeABank, VIB, BaoViet Bank, Saigonbank, VietBank and MB. On the contrary, VIB is also the only bank that has reduced its interest rates since the beginning of July.

HIGHEST DEPOSITS INTEREST RATES AT COMMERCIAL BANKS ON JULY 11, 2024
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
ABBANK	3.2	4	5.6	5.8	6	5.7
ACB	2.8	3.1	3.9	4	4.7
BAC A BANK	3.5	3.7	4.9	5	5.5	5.6
BAOVIETBANK	3.1	3.9	5.1	5.2	5.6	5.9
BVBANK	3.4	3.5	4.9	5.05	5.6	5.8
CBBANK	3.4	3.6	5.15	5.1	5.3	5.55
DONG A BANK	2.8	3	4	4.2	4.5	4.7
EXIMBANK	3.5	4.3	5.2	4.5	5	5.1
GPBANK	3	3.52	4.85	5.2	5.75	5.85
HDBANK	3.25	3.25	4.9	4.7	5.5	6.1
KIENLONGBANK	3	3	4.7	5	5.2	5.5
LPBANK	3.4	3.5	4.7	4.8	5.1	5.6
MB	3.3	3.7	4.4	4.4	5.1	5.9
MSB	3.7	3.7	4.6	4.6	5.4	5.4
NAM A BANK	3.1	3.8	4.6	5.1	5.4	5.7
NCB	3.7	4	5.35	5.55	5.7	6.1
OCB	3.7	3.9	4.9	5	5.2	5.4
OCEANBANK	3.4	3.8	4.8	4.9	5.5	6.1
PGBANK	3.2	3.5	4.5	4.5	5.3	5.8
PVCOMBANK	3.15	3.15	4.3	4.3	4.8	5.5
SACOMBANK	2.7	3.2	4	4.1	4.9	5.1
SAIGONBANK	2.5	2.8	4.1	4.4	5.3	5.6
SCB	1.6	1.9	2.9	2.9	3.7	3.9
SEABANK	3.2	3.7	4.2	4.4	4.95	5.7
SHB	3.3	3.4	4.7	4.8	5.2	5.5
TECHCOMBANK	2.85	3.25	4.25	4.25	4.95	4.95
TPBANK	3.3	3.6	4.5		5.2	5.4
VIB	3.1	3.3	4.3	4.4		4.9
VIET A BANK	3.4	3.7	4.8	4.8	5.4	5.7
VIETBANK	3.4	3.6	4.9	4.7	5.3	5.9
VPBANK	3.1	3.5	4.7	4.7	5.2	5.2