6.1%/year is also the interest rate that NCB and OceanBank reached after the most recent interest rate increase last week. In addition to these two banks, the remaining 6 banks that increased their deposit interest rates last week include: Techcombank, PGBank, TPBank, ACB, LPBank, and Eximbank.

According to the online deposit interest rate table announced by banks as of June 22, 3 banks are listing the highest interest rate of 6.1% including: NCB (applied to deposit terms from 18 to 60 months), OceanBank (term 18-36 months), and HDBank (term 18 months).

Besides, the group of banks listing the mobilization interest rate of 6%/year currently includes HDBank (15-month term) and OCB (36-month term).

However, many banks are applying long-term deposit interest rates (24 months or more) close to the threshold of 6%/year. These include BaoViet Bank, PGBank, SHB (5.9%/year); BVBank, MB, SeABank, ABBank (5.8%/year).

Meanwhile, most banks list interest rates from 5%/year for deposit terms of 12 months or more.

On the contrary, the banking group maintains the lowest deposit interest rates in the market today, in addition to the big 4 banks, there are also SCB, ACB, Dong A Bank with less than 5%/year for all terms.

Notably, some banks continue to maintain special interest rate policies with significant differences compared to normal interest rates.

The special interest rate at HDBank is 7.7%/year, applied to 12-month term deposits with balances of VND500 billion or more, and 8.1%/year applied to 13-month term deposits also with balances of VND500 billion or more.

The special interest rate at Dong A Bank is 7.5%/year for customers making term deposits of 13 months or more with a deposit amount of 200 billion VND or more.

ACB is also applying special interest rates of 5.7% (monthly interest) and 5.9%/year (end-of-term interest) for customers with deposit balances of VND200 billion or more and a term of 13 months.

The special interest rate at MSB is currently 7%/year, applied to deposits from 500 billion VND and terms of 12-13 months. In addition, this bank also applies special interest rates for regular customers with a 6-month term interest rate of 6.1%/year (the normal interest rate is 4.6%/year), and interest rates for 12-month, 15-month, and 24-month terms of 5.7%/year (the normal interest rate is 5.4%/year).

PVCombank is a bank with a special interest rate policy of up to 9.5%/year (the highest rate on the market today) for 12 and 13 month term deposits. However, PVCombank is also the place that sets the strictest conditions, which is the deposit amount must be from 2,000 billion VND.

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Banks increase deposit interest rates. Photo: Hoang Ha
INTEREST RATES FOR DEPOSITS FROM 12 - 36 MONTHS AT BANKS ON JUNE 22, 2024 (%/YEAR)
BANK 12 MONTHS 18 MONTHS 24 MONTHS 36 MONTHS
NCB 5.6 6.1 6.1 6.1
OCEANBANK 5.5 6.1 6.1 6.1
OCB 4.9 5.4 5.8 6
BAOVIETBANK 5.5 5.8 5.9 5.9
PGBANK 5.3 5.8 5.9 5.9
SHB 5 5.3 5.6 5.9
GPBANK 5.75 5.85 5.85 5.85
BVBANK 5.6 5.8 5.8 5.8
MB 5 4.9 5.8 5.8
SAIGONBANK 5 5.6 5.7 5.8
SEABANK 4.45 5 5.8 5.8
VIETBANK 5.2 5.8 5.8 5.8
ABBANK 5.6 5.7 5.7 5.7
NAM A BANK 5.4 5.7 5.7 5.7
TPBANK 5.2 5.4 5.7 5.7
BAC A BANK 5.5 5.6 5.6 5.6
LPBANK 5.1 5.6 5.6 5.6
VIET A BANK 5.2 5.2 5.6 5.6
VPBANK 5.2 5.2 5.6 5.6
CBBANK 5.3 5.55 5.55 5.55
HDBANK 5.5 6.1 5.5 5.5
KIENLONGBANK 5.2 5.5 5.5 5.5
PVCOMBANK 4.8 5.5 5.5 5.5
MSB 5.4 5.4 5.4 5.4
SACOMBANK 4.9 5.1 5.2 5.4
VIB 5.1 5.3 5.3
EXIMBANK 5 5.1 5.2 5.2
VIETINBANK 4.7 4.7 5 5
TECHCOMBANK 4.95 4.95 4.95 4.95
BIDV 4.7 4.7 4.8 4.8
AGRIBANK 4.7 4.7 4.7 4.7
DONG A BANK 4.5 4.7 4.7 4.7
VIETCOMBANK 4.6 4.6 4.7 4.7
SCB 3.7 3.9 3.9 3.9

According to statistics, from the beginning of June until now, 22 commercial banks have increased deposit interest rates, including:

VietinBank, TPBank, VIB, GPBank, BaoViet Bank, LPBank, Nam A Bank, OceanBank, ABBank, Bac A Bank, MSB, MB, Eximbank, OCB, BVBank, NCB, VietBank, VietA Bank, VPBank, PGBank, Techcombank, and ACB.

Of which, GPBank, VIB, MB, BaoViet Bank, OceanBank, NCB, TPBank, PGBank, and LPBank have increased deposit interest rates twice since the beginning of June.

Eximbank has even increased its deposit interest rates three times since the beginning of the month, for terms of 1-12 months, 1-3 months, and 6-9 months. However, the bank has reduced the interest rates for terms of 15-36 months by 0.1% per year.