Two private 'giants' reduce interest rates

Vietnam International Commercial Joint Stock Bank (VIB) announced a new deposit interest rate schedule starting today after reducing 0.1 percentage points at many terms.

Specifically, online deposit interest rates for 1-3 month terms are down to 3.8%/year, and for 3-5 month terms, they have also dropped to 4%/year.

With the same reduction, bank interest rates for 6-8 month terms are down to 5.1%/year, and for 15-18 month terms are down to 5.6%/year.

VIB maintains the rate of 5.2%/year for 9-11 month term deposits and 5.8%/year for 24-36 month term deposits.

Also today, VPBank announced a reduction in deposit interest rates for terms under 6 months.

Online deposit interest rates for 1-2 month terms are adjusted down by 0.2 percentage points, down to 3.7%/year.

Meanwhile, the interest rate for 3-5 month term deposits decreased by 0.15 percentage points to 3.8%/year.

VPBank maintains the online deposit interest rates for the remaining terms. The interest rate for 6-11 month terms is 5%/year, the interest rate for 12-13 month terms is 5.3%/year, while the interest rate for 15-36 month terms is 5.1%/year.

VPBank and VIB are two of the first banks to bring deposit interest rates down to below 6% per year. Even the interest rates at the counter for 6-11 month terms and 15-36 month terms at VPBank are currently 4.8% and 4.9% per year, respectively.

Since the beginning of November, 3 banks have reduced deposit interest rates: Sacombank, VIB and VPBank.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON NOVEMBER 6 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
PVCOMBANK	3.95	3.95	6.1	6.1	6.2	6.5
BAOVIETBANK	4.4	4.75	5.8	5.9	6.1	6.4
OCEANBANK	4.6	4.6	5.8	5.9	6.1	6.5
NCB	4.45	4.45	5.7	5.75	5.9	6.1
CBBANK	4.2	4.3	5.7	5.8	6	6.1
HDBANK	4.05	4.05	5.7	5.5	5.9	6.5
VIET A BANK	4.5	4.5	5.6	5.6	6	6.3
BAC A BANK	4.55	4.55	5.6	5.7	5.8	6.1
BVBANK	4.4	4.7	5.55	5.65	5.75	5.75
DONG A BANK	4.5	4.5	5.5	5.6	5.85	5.85
GPBANK	4.25	4.25	5.45	5.55	5.65	5.75
VIETBANK	4.4	4.4	5.4	5.5	5.8	6.4
SHB	3.8	4.1	5.4	5.6	5.8	6.3
KIENLONGBANK	4.55	4.75	5.4	5.6	5.7	6.4
SCB	4.5	4.5	5.35	5.45	5.65	5.65
OCB	4.1	4.25	5.3	5.4	5.5	5.9
SAIGONBANK	3.4	3.6	5.2	5.4	5.6	5.6
VIB	3.9	4.1	5.2	5.2		5.7
EXIMBANK	4	4	5.2	5.5	5.6	5.8
PG BANK	3.8	3.8	5.1	5.3	5.4	6.2
LPBANK	3.8	4	5.1	5.2	5.6	6
MB	3.5	3.8	5.1	5.2	5.4	6.1
SACOMBANK	3.6	3.8	5	5.3	5.6	5.75
VPBANK	3.7	3.8	5	5	5.3	5.1
ACB	3.5	3.7	5	5.1	5.5
TPBANK	3.8	4	5	5	5.55	6
MSB	3.8	3.8	5	5.4	5.5	6.2
TECHCOMBANK	3.55	3.75	4.95	5	5.35	5.35
NAMA BANK	4.65	4.65	4.9	5.2	5.7	6.1
ABBANK	3.7	3.9	4.9	4.9	4.7	4.4
SEABANK	4	4	4.8	4.95	5.1	5.1
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
BIDV	3.2	3.5	4.4	4.4	5.3	5.3
VIETCOMBANK	2.8	3.1	4.1	4.1	5.1	5.1