Bac A Commercial Joint Stock Bank (Bac A Bank) reduced deposit interest rates for the second time this month when posting a new interest rate schedule from January 19.

Accordingly, this bank reduced 0.1 percentage point of interest rates for deposit terms from 1-5 months, and reduced 0.2 percentage point of interest rates for terms from 6-36 months.

According to Bac A Bank 's new interest rate schedule, the interest rate for 1-2 month deposits is currently 3.6%/year, 3 month deposits are 3.8%/year, 4 and 5 month deposits are 4% and 4.2%/year respectively.

Bank interest rates for terms of 6-8 months have now dropped to only 4.9%/year, terms of 9-11 months are 5%/year, terms of 12-13 months are 5.2%/year and terms of 15 months have an interest rate of 5.4%/year.

The highest bank interest rate at Bac A Bank belongs to deposit terms from 18-36 months when it is listed at 5.6%/year.

Meanwhile, Saigon - Hanoi Commercial Joint Stock Bank (SHB) has just reduced its deposit interest rate for the third time since the beginning of January 2024. Previously, SHB had reduced interest rates twice on January 2 and January 17.

The online interest rate table on January 19 shows that the 1-2 month term interest rate has just dropped to only 3.1%/year, down 0.3 and 0.4 percentage points respectively compared to yesterday.

The 3-month term bank interest rate also decreased sharply by 0.4 percentage points to 3.3%/year, while the 4-month term decreased slightly by 0.1 percentage points to 3.8%/year, and the 5-month term remained unchanged at 3.9%/year.

SHB also reduced the interest rate for 6-month deposits by 0.1 percentage point, down to 4.8%/year. The bank kept the old interest rate for the remaining terms.

Specifically, the bank interest rate for 7-8 month term is 4.9%/year, 9 month term is 5%/year, 10-11 month term is 5.1%/year, 12 month term is 5.3%/year, 13 month term is 5.4%/year, 15 month term is 5.5%/year, 18 month term is 5.8%/year and 24-36 month term has interest rate up to 6.2%/year.

Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has also just reduced interest rates for deposits with terms from 1-5 months. This is the second time this month that the bank has reduced interest rates.

According to the online interest rate schedule applied to newly opened accounts under VND1 billion, the interest rate for 1-2 month terms at VPBank is now only 3.1%/year, down 0.2 percentage points compared to before. The 3-5 month terms have been adjusted down 0.1 percentage points to 3.3%/year.

VPBank maintains the old interest rates for the remaining deposit terms. Specifically, the 6-11 month term has an interest rate of 4.4%/year, the 12-month term has an interest rate of 5.1%/year, and the 15-18 month term is 5.2%/year.

Compared to term deposit accounts under VND1 billion, VPBank adds 0.1 percentage point of interest rate for deposits from VND1 billion to under VND3 billion; adds 0.2 percentage point of interest rate for deposits from VND3 billion to under VND10 billion; and adds 0.3 percentage point of interest rate for deposits from VND10 billion or more.

Also today, Maritime Commercial Joint Stock Bank ( MSB ) sharply reduced interest rates for terms from 6-36 months. The online interest rate table of this bank shows that the interest rate for terms from 6-11 months decreased by 0.3 percentage points to only 3.9%/year.

MSB has adjusted the interest rate for deposits with terms from 12-36 months down by 0.6 percentage points to 4.3%/year.

Interest rates for terms from 1-5 months are kept at 3.5%/year by MSB.

However, this bank still applies a “special interest rate” of 4.4% for 6-month deposits; 4.6%/year for 12-month, 15-month and 24-month deposits. This policy applies to new customers who do not have a savings book at MSB.

In addition, customers depositing money at the counter can also receive interest rates of up to 8.5%/year, applied for 12 and 13 month terms with deposits of VND 500 billion or more.

HIGHEST DEPOSITS INTEREST RATES ON JANUARY 19
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
HDBANK 3.45 3.45 5.3 5 5.5 6.3
NCB 4.05 4.25 5.25 5.35 5.6 6
VIETBANK 3.7 3.9 5.1 5.2 5.5 5.9
VIET A BANK 3.9 3.9 5.1 5.1 5.4 5.8
BAC A BANK 3.6 3.8 4.9 5 5.2 5.6
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 3.1 3.3 4.8 5 5.3 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
GPBANK 2.9 3.42 4.75 4.9 4.95 5.05
SACOMBANK 3.6 3.8 4.7 4.95 5 5.1
OCB 3 3.2 4.6 4.7 4.9 5.4
EXIMBANK 3.4 3.7 4.6 5 5.1 5.5
VIB 3.2 3.4 4.5 4.5 5.2
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
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 3.9 3.9 4.3 4.3
SEABANK 3.4 3.6 4.15 4.3 4.75 5
MB 2.7 3 4.1 4.3 4.9 5.4
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
VIETCOMBANK 1.7 2 3 3 4.7 4.7

Since the beginning of January, 25 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, SeABank, MSB.

Of which, OCB, KienLongBank, NCB, Viet A Bank, GPBank, SHB, VIB, Bac A Bank, VPBank have reduced interest rates for the second time since the beginning of January; SHB has even reduced interest rates up to 3 times.

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