After Vietcombank lowered its deposit interest rate to a record low, SCB, a bank under special control, also "followed suit" by continuing to closely follow Vietcombank in terms of the lowest deposit interest rate in the system.

SCB has just announced a 0.2 percentage point reduction in deposit interest rates for terms from 1-11 months and a 0.1 percentage point reduction in deposit interest rates for terms from 12-36 months. Accordingly, the 1-2 month term is now only 1.75%/year, the 3-5 month term is 2.05%/year. Meanwhile, the interest rate for deposits with terms from 6-11 months is 3.05%/year.

The highest interest rate currently at SCB is 4.75%/year, applied to term deposits of 12-36 months. Notably, this is also the maximum mobilization interest rate regulated by the State Bank for term deposits of 1-6 months.

It is currently unclear what the liquidity level is at this bank, but it is clear that SCB's deposit interest rate is near the bottom of the market, only higher than Vietcombank.

PVCombank has just reduced deposit interest rates by 0.3 percentage points for all terms from 1-36 months. The 1-5 month term has dropped to 3.05%/year, the 6-11 month term has dropped to 5%/year, the 12 month term has dropped to 5.1%/year and the 18-36 month term has dropped to 5.4%/year.

The interest rate of 5.4%/year is also the highest bank interest rate at PVCombank. Compared to the interest rate mobilized at the counter, the online interest rate is 0.3%/year higher.

However, PVCombank is still the bank that pays the highest interest rate in the system, up to 10%/year. To enjoy this highest interest rate, customers need to deposit for a term of 12 or 13 months, with a deposit balance of VND2,000 billion or more. This "special interest rate" is down 0.5 percentage points compared to last month.

Meanwhile, the interest rates at the counter for 12 and 13-month terms for regular customers are 4.8%/year and 5%/year, respectively.

Also this morning, KienLongBank reduced interest rates for deposits with terms from 6 to 36 months by 0.2 percentage points. This is the second time since the beginning of the month that the bank has adjusted interest rates down.

Accordingly, the online mobilization interest rate for 6-month term is 5%/year, and for 9-month term is 5.2%/year.

Interest rates for 12-month, 13-month and 15-month terms decreased to 5.3% - 5.4% - and 5.5%/year, respectively.

Meanwhile, the interest rate for deposits with terms from 18 to 36 months is 5.8%/year. This is also the highest interest rate at KienLongBank. Thus, the interest rate at this bank is officially below 6%/year.

For 1-5 month term bank interest rates , KienLongBank maintains the level of 3.95%/year.

Since the beginning of January 2024, 16 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.

Of which, OCB and KienLongBank have reduced interest rates for the second time since the beginning of the new year.

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

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON JANUARY 15, 2024
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
HDBANK 3.65 3.65 5.5 5.5 5.7 6.5
NCB 4.05 4.25 5.35 5.45 5.7 6
VIETBANK 3.8 4 5.3 5.4 5.7 6.1
VIET A BANK 4.2 4.2 5.2 5.2 5.5 6
GPBANK 3.4 3.92 5.15 5.3 5.35 5.45
BAC A BANK 3.7 3.9 5.1 5.2 5.4 5.8
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
BVBANK 3.8 3.9 5.05 5.2 5.5 5.55
PVCOMBANK 3.05 3.05 5 5 5.1 5.4
KIENLONGBANK 3.95 3.95 5 5.2 5.3 5.8
ABBANK 3.15 3.35 5 4.4 4.4 4.4
SHB 3.5 3.8 5 5.2 5.4 5.8
DONG A BANK 3.9 3.9 4.9 5.1 5.4 5.6
NAMA BANK 3.3 4 4.9 5.2 5.7 6.1
PGBANK 3.1 3.5 4.9 5.3 5.8 6.1
OCEANBANK 3.7 3.9 4.8 5 5.5 5.7
SACOMBANK 3.6 3.8 4.7 4.95 5 5.1
OCB 3 3.2 4.6 4.7 4.9 5.4
VIB 3.2 3.4 4.6 4.6 5.1
EXIMBANK 3.4 3.7 4.6 5 5.1 5.5
SEABANK 3.6 3.8 4.4 4.55 5 5.1
VPBANK 3.3 3.4 4.4 4.4 5.1 5.2
LPBANK 2.8 3.1 4.3 4.4 5.3 5.7
TPBANK 3 3.2 4.2 4.9 5.1
SAIGONBANK 2.8 3 4.2 4.4 5.1 5.5
MSB 3.5 3.5 4.2 4.2 4.9 4.9
MB 2.7 3 4.1 4.3 4.9 5.4
TECHCOMBANK 2.95 3.15 4.05 4.1 4.75 4.75
ACB 2.9 3.2 3.9 4.2 4.8
BIDV 2.3 2.6 3.6 3.6 5 5
AGRIBANK 2 2.5 3.6 3.6 5 5
VIETINBANK 2.2 2.5 3.5 3.5 5 5
SCB 1.75 2.05 3.05 3.05 4.75 4.75
VIETCOMBANK 1.7 2 3 3 4.7 4.7