Bank interest rates today 4/1/2025: Interest rate reduction at the beginning of the month

OCB becomes the first bank to reduce interest rates in April 2025

Orient Commercial Joint Stock Bank (OCB) has just announced a new interest rate schedule, becoming the first bank to reduce savings interest rates in April. Accordingly, terms from 6 to 36 months have all decreased by 0.1%/year, while terms under 6 months remain unchanged.

OCB applies online savings interest rates in a ladder form, depending on the deposit amount under 100 million VND, from 100 to 500 million VND, and over 500 million VND. For the group under 100 million VND, short-term interest rates such as 1 to 5 months range from 4% to 4.6%/year. From 6 to 15 months, interest rates range from 5.1% to 5.2%/year. Longer terms such as 18, 21 and 24 months have interest rates of 5.4%, 5.5% and 5.6%/year, respectively. OCB's highest interest rate is currently 5.8%/year, applied to a 36-month term.

For deposits from 100 million to 500 million VND, the listed interest rate is 0.2 to 0.25% higher than the group under 100 million VND. Meanwhile, depositors over 500 million VND enjoy a higher interest rate of about 0.25 to 0.3%/year. However, from the term of 21 to 36 months, OCB applies a common interest rate to all deposits.

The interest rate for savings at the counter is also applied for terms of 21 to 36 months, equivalent to online savings. However, for shorter terms (1 to 15 months), the interest rate at the counter is 0.1%/year lower than online savings.

This is the first time OCB has adjusted interest rates down since a slight increase of 0.1%/year in early December 2024.

Interest rates above 6% are becoming rare.

To date, only a few banks still maintain interest rates of 6%/year or higher for deposits under 1 billion VND. GPBank is the only bank listing an interest rate of over 6%/year for a 12-month term.

Vikki Bank (formerly DongA Bank) is still maintaining an interest rate of 6%/year for the same term. At other banks, to enjoy an interest rate of 6%/year or more, customers are forced to deposit for a longer term or a larger amount of money.

The latest developments show that the deposit interest rate continues to decline in the context of abundant system liquidity, stable inflation and decreasing capital mobilization pressure. This may be a signal that the deposit interest rate will remain low in the coming time.

Source: https://baonghean.vn/lai-suat-ngan-hang-hom-nay-1-4-2025-giam-lai-suat-dau-thang-10294190.html