Which savings term has the highest interest rate at BIDV and Agribank?

(NLDO) - "Big" banks have joined in adjusting deposit interest rates in November, with the highest interest rate of 4.8%/year for long terms.

In the context of a slight increase in deposit interest rates at the end of the year, Agribank is the latest bank to join this wave. Specifically, in the November interest rate table, the 3-month term interest rate at Agribank is 2.5%/year, the 6-month term is 3.5%/year, and the 24-month term is 4.8%/year.

Many banks join the wave of increasing deposit interest rates at the end of the year

On the contrary, BIDV still maintains the interest rate for short terms, with 2%/year for 3-month term and 3%/year for 6-month term. For 12-month term, both BIDV and Agribank apply the highest interest rate of 4.7%/year.

However, compared to smaller banks, the interest rate for long-term deposits over 12 months at Agribank and BIDV is still significantly lower, as small banks often list interest rates from 5.5% - 6%/year.

With an interest rate of 4.7%/year for a 12-month term, depositing 1 billion VND at Agribank or BIDV, the depositor will receive an interest rate of 50 million VND at the end of the term, equivalent to about 4.16 million VND per month.

Not only the "big" banks have increased interest rates, since the beginning of November, a series of banks have also adjusted their deposit interest rates up, such as VIB, SeABank, Vietbank, BVBank, VietABank, Techcombank... Some banks have aggressively increased online deposit interest rates much higher than at the counter. For example, Eximbank said that if customers deposit savings online on weekends (Saturday, Sunday), the highest interest rate is up to 6.4%/year for terms of 18-24 months. This interest rate is about 1.2 percentage points higher than at the counter.

For shorter terms, if Eximbank customers deposit online, the interest rate is also much higher than at the counter, such as 6-month term is 5.5%/year; 12-month term is 5.6%/year...

According to financial experts, savings are one of the investment channels attracting idle money from people, especially in the context of interest rates rising at the end of the year.

Dr. Nguyen Tri Hieu, a financial expert, said that it is understandable that interest rates will increase at the end of the year when businesses need more capital to serve production and business. To compete to attract deposits, banks can continue to adjust interest rates, especially 12-month terms can increase by 0.5-0.7 percentage points, up to 5.1%-5.5%/year at major banks.

Source: https://nld.com.vn/lai-suat-hom-nay-29-11-gui-tiet-kiem-tai-bidv-agribank-ky-han-nao-lai-cao-nhat-1962411291301018.htm