After three consecutive reductions in deposit interest rates last month, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has just become the next bank to increase deposit interest rates.
According to the online interest rate schedule for deposit accounts under 1 billion VND announced by VPBank this morning (January 11), interest rates for terms from 6 to 11 months were adjusted up slightly by 0.1 percentage points to 4.4%/year.
Interest rates for deposits with terms from 15 to 36 months also increased by 0.1 percentage points and were listed at 5.2% per year.
However, VPBank reduced the interest rate for 13-month term deposits by 0.1 percentage points to 5.1%/year, while keeping the interest rates for the following terms: 12 months (5.1%/year); 1-2 months (3.3%/year); and 3-5 months (3.4%/year).
Compared to savings accounts worth less than VND1 billion, VPBank has a policy of adding 0.1% interest rate for deposit accounts from VND1 to less than VND3 billion; adding 0.2% interest rate for deposit accounts from VND3 to less than VND10 billion; and adding 0.3% interest rate for deposit accounts from VND10 billion or more.
In addition, customers who prioritize deposits with a minimum balance of VND 100 million and a minimum term of 1 month will enjoy the interest rate according to the regulations equal to the corresponding interest rate on the current mobilization interest rate table plus 0.1%/year.
Thus, the highest real interest rate at VPBank can be up to 5.6%/year if customers deposit an amount of 10 billion VND or more with a term of 15 months.
Before VPBank, two banks increased deposit interest rates since the beginning of the month: ACB and ABBank.
Also this morning, Orient Commercial Joint Stock Bank (OCB) became the next bank to reduce deposit interest rates.
According to OCB's online deposit interest rate table on January 11, deposit interest rates for 1-3 month terms dropped sharply by 0.4 percentage points, to 3-3.2%/year, respectively.
Interest rates for 6-month and 9-month terms decreased by 0.2 percentage points to 4.6% and 4.7% per year. Terms from 12-15 months also decreased similarly to only 4.9% per year.
OCB has reduced the interest rates for 18-36 month terms by 0.3-0.4 percentage points. Accordingly, the interest rate for 18-month terms is 5.4%/year, for 21-month terms is 5.5%/year, for 24-month terms is 5.8%/year, and for 36-month terms is 6%/year.
With this interest rate reduction, OCB only maintains an interest rate of 6% for a 36-month term, and at the same time becomes one of the few banks that boldly reduces the interest rate on 12-month term deposits to below 5%/year.
Previously, OCB also reduced deposit interest rates on January 8, becoming the first bank to reduce interest rates for the second time in the new year 2024.
Since the beginning of January 2024, 12 banks have reduced deposit interest rates, including: BaoViet Bank, GPBank, Eximbank, SHB, Bac A Bank, KienLong Bank, LPBank, OCB, VIB, TPBank, ABBank, NCB.
Of which, OCB has reduced interest rates for the second time since the beginning of January.
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 RATE TABLE ON JANUARY 11, 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 | 4.3 | 4.3 | 5.3 | 5.3 | 5.6 | 6 |
| PVCOMBANK | 3.35 | 3.35 | 5.3 | 5.3 | 5.4 | 5.7 |
| KIENLONGBANK | 3.95 | 3.95 | 5.2 | 5.4 | 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 |
| 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 | 1.95 | 2.25 | 3.25 | 3.25 | 4.85 | 4.85 |
| VIETCOMBANK | 1.9 | 2.2 | 3.2 | 3.2 | 4.8 | 4.8 |
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