Interest rates for super VIP customers also decrease

OceanBank has sharply reduced deposit interest rates for all terms from today, January 25. This is the first time the bank has reduced deposit interest rates in 2024.

According to OceanBank's online deposit interest rate table, deposit interest rates for 1-5 month terms have decreased sharply by 0.6 percentage points.

Accordingly, the bank interest rate for 1-2 month term is only 3.1%/year, the interest rate for 3-5 month term is 3.3%/year.

OceanBank reduced the interest rate for 6-8 month deposits by 0.4 percentage points to 4.4%/year. A similar reduction brought the interest rate for 9-11 month deposits down to only 4.6%/year; the interest rate for 12-15 month deposits down to only 5.1%/year.

Interest rates for remaining terms are adjusted down by 0.2 percentage points: 18-24 month term down to 5.5%/year, 36 month term down to 5.8%/year.

According to VietNamNet statistics, OceanBank is the 30th bank among domestic commercial banks to reduce deposit interest rates since the beginning of 2024.

Also today, TPBank continued to reduce deposit interest rates for the second time since the beginning of the year, reducing deposit interest rates by 0.2 percentage points for terms from 1-6 months and by 0.1 percentage points for terms from 9-36 months.

TPBank's recently updated online deposit interest rates are as follows: 1-month term interest rate: 2.8%/year, 3-month term: 3%/year; 6-month term: 4%/year; 12-month term: 4.8%/year; 18-month term: 5%/year; 24-month term: 5.1%/year; 36-month term: 5.2%/year.

Except for OceanBank and TPBank, interest rates at other banks remain unchanged.

With up to 30 banks reducing deposit interest rates since the beginning of the new year, deposit interest rates for many terms have returned to low levels similar to the Covid-19 pandemic period, partly showing that liquidity in the credit institution system is still quite abundant.

Continuing to maintain low deposit interest rates will also be a factor promoting positive credit growth in 2024 with the SBV's orientation from the beginning of the year of credit growth reaching 15%.

Even the decrease in normal deposit interest rates leads to changes in "special interest rates" for super VIP customers.

Yesterday, HDBank reduced deposit interest rates for all terms by 0.2-0.4 percentage points, making the highest online deposit interest rate only 6%/year (18-month term).

Along with that, HDBank also reduced the "special interest rate". The interest rate applied to 12- and 13-month counter deposits for customers depositing VND300 billion or more is 7.8% and 8.2%/year, respectively, down 0.2 percentage points compared to the end of 2023 (while the interest rate mobilized at the counter for these terms is 5% and 5.2%/year, respectively).

Not only HDBank, the "special interest rates" at banks applying this policy have also decreased compared to the end of 2023.

In particular, the "special interest rate" at MSB Bank applies to deposit accounts from 500 billion VND or more, with terms of 12 and 13 months, currently at 8.5%/year.

This interest rate has decreased by 0.5 percentage points compared to 1 month ago (while the interest rate mobilized at the counter for regular customers has decreased by 1.1%/year to 4%/year).

PVCombank has also reduced its “special interest rate” by 0.5 percentage points compared to last month. Currently, the “special interest rate” applied by this bank for 12-13 month term deposits at the counter is 10%/year, exclusively for customers with savings of VND2,000 billion or more (normal interest rates are only 4.7-4.8%/year).

Meanwhile, DongA Bank and ACB still maintain the "special interest rate" unchanged compared to last month.

DongA Bank is applying an interest rate of 7.5%/year for a term of 13-36 months for customers who deposit at the counter from 200 billion VND or more (the interest rate for regular customers is 5.6-5.8/year).

At ACB, the listed 13-month deposit interest rate is 4.6%/year, but the "special interest rate" for customers depositing 200 billion VND or more is 5.6%/year.

HIGHEST DEPOSITS INTEREST RATE TABLE ON JANUARY 25, 2024
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
BAOVIETBANK	3.8	4.15	5.1	5.2	5.6	5.8
CBBANK	4.2	4.3	5.1	5.2	5.4	5.5
NCB	3.9	4.1	5.05	5.15	5.5	6
PVCOMBANK	3.05	3.05	5	5	5.1	5.4
ABBANK	3.15	3.35	5	4.4	4.4	4.4
HDBANK	3.25	3.25	4.9	4.7	5.1	6
VIETBANK	3.5	3.7	4.9	5	5.3	5.8
BAC A BANK	3.6	3.8	4.9	5	5.2	5.6
DONG A BANK	3.9	3.9	4.9	5.1	5.4	5.6
NAMA BANK	3.1	3.6	4.9	5.2	5.7	6.1
PGBANK	3.1	3.5	4.9	5.3	5.8	6.1
BVBANK	3.65	3.75	4.85	5	5.15	5.55
VIET A BANK	3.6	3.7	4.8	4.9	5.2	5.6
KIENLONGBANK	3.95	3.95	4.8	5	5.1	5.6
SHB	3.1	3.3	4.8	5	5.3	5.8
GPBANK	2.9	3.42	4.75	4.9	4.95	5.05
SACOMBANK	3	3.2	4.7	4.95	5.2	5.6
OCB	3	3.2	4.6	4.7	4.9	5.4
EXIMBANK	3.4	3.7	4.5	4.5	5	5.5
VIB	3.2	3.4	4.5	4.5		5.2
OCEANBANK	3.1	3.3	4.4	4.6	5.1	5.5
VPBANK	3.1	3.3	4.4	4.4	5.1	5.2
LPBANK	2.8	3.1	4.3	4.4	5.3	5.7
SAIGONBANK	2.8	3	4.2	4.4	5.1	5.5
SEABANK	3.4	3.6	4.15	4.3	4.75	5
TPBANK	2.8	3	4		4.8	5
MSB	3.5	3.5	3.9	3.9	4.3	4.3
MB	2.6	2.9	3.9	4.1	4.8	5.2
ACB	2.9	3.2	3.9	4.2	4.8
TECHCOMBANK	2.75	3.15	3.75	3.8	4.75	4.75
AGRIBANK	1.8	2.1	3.4	3.4	5	5
BIDV	2	2.3	3.3	3.3	5	5
VIETINBANK	1.9	2.2	3.2	3.2	5	5
SCB	1.75	2.05	3.05	3.05	4.75	4.75

Since the beginning of January 2024, 30 banks have reduced deposit interest rates, including: BaoViet Bank, GPBank, Eximbank, SHB, Bac A Bank, KienLong Bank, LPBank, OCB, VIB, TPBank, ABBank, NCB, Viet A Bank, Vietcombank, PVCombank, SCB, HDBank, VietBank, Techcombank, Agribank, BIDV, VietinBank, VPBank, SeABank, MSB, Nam A Bank, MB, BVBank, Sacombank, OceanBank.

Of which, OCB, GPBank, SHB, VIB, Bac A Bank, VPBank, Eximbank, VietBank, HDBank, TPBank have reduced interest rates for the second time since the beginning of January.

SHB, NCB, Viet A Bank and KienLong Bank have even reduced interest rates up to 3 times.

On the contrary, ACB, ABBank, VPBank and Sacombank are the banks that have increased deposit interest rates since the beginning of the month.

HA (according to Vietnamnet)

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