The latest report of the State Bank of Vietnam (SBV) on interest rate developments of credit institutions for customers in December 2024 shows that the average VND deposit interest rate of domestic commercial banks is at 0.1-0.2%/year for demand deposits and deposits with terms of less than 1 month; 3.1-4.0%/year for deposits with terms from 1 month to less than 6 months;

Interest rates are 4.4-5.2%/year for term deposits from 6 months to 12 months; 5.0-5.9%/year for term deposits from over 12 months to 24 months and 6.8-7.2%/year for term deposits over 24 months.

AVERAGE DEPOSITS INTEREST RATE IN DECEMBER 2024 ACCORDING TO THE ANNOUNCEMENT OF THE STATE BANK
TERM INTEREST RATE
No term and term less than 1 month 0.1-0.2%/year
1 month to under 6 months 3.1-4.0%/year
6 months to 12 months 4.4-5.2%/year
Over 12 months to 24 months 5.0-5.9%/year
Over 24 months 6.8-7.2%/year

Meanwhile, the average lending interest rate of domestic commercial banks for new and old loans with outstanding debt is at 6.7-9.0%/year.

The average short-term lending interest rate in VND for priority sectors is about 3.8%/year, lower than the maximum short-term lending interest rate prescribed by the State Bank of Vietnam (4%/year).

AVERAGE LOAN INTEREST RATE IN DECEMBER 2024 ACCORDING TO THE ANNOUNCEMENT OF THE STATE BANK
LOAN INTEREST RATE
New and old outstanding loans 6.7-9.0%/year
Priority Sector Loans 3.8%/year

For USD interest rates, USD deposit interest rates of credit institutions are at 0%/year for deposits of individuals and organizations.

The average USD lending interest rate of domestic commercial banks for new and old outstanding loans is 4.1-4.9%/year for short term; 5.8-7.0%/year for medium and long term.

Bank interest rates since the beginning of February 2025 have only recorded 5 banks adjusting deposit interest rates, including: TPBank (reducing deposit interest rates for terms of 1 - 2 - 3 and 12 months), Techcombank (increasing interest rates for terms of 6-36 months), Bac A Bank (reducing interest rates for 1-36 months) and Eximbank (increasing interest rates for 1-12 months, reducing interest rates for 15-36 months).

Previously, in January 2025, 10 banks increased deposit interest rates including: Agribank, Bac A Bank, NCB, MBV, Eximbank (2 times), KienlongBank (2 times), VietBank, ABBank, BaoViet Bank, BVBank.

However, NCB and Agribank also reduced interest rates for 12-36 month terms, while ABBank reduced interest rates for 6-12 month terms. SeABank, Nam A Bank, Bac A Bank, and Techcombank also reduced interest rates (twice).

Regarding the current VND mobilization interest rate at banks, for a 12-month term, MSB bank has the highest interest rate of 6.3%.

The highest interest rate currently belongs to Eximbank with an interest rate of 6.6%/year for a term of 24-36 months.

Bank interest rates at BVBank are also up to 6.45%/year when customers deposit savings online for a term of 24-36 months.

In addition, BVBank also listed interest rates of 6.05%/year for 12-month term deposits and 6.25%/year for 12-18 month term deposits.

At KienlongBank, the highest interest rate is up to 6.4%/year for customers making online savings deposits for a term of 60 months. The interest rate for a term of 36 months is also listed by KienlongBank at 6.3%/year; the deposit terms of 12-24 months are listed by this bank at 6.1%/year.

Indovina Bank (IVB) is also among the banks that announced attractive savings interest rates, up to 6.2%/year for deposits with terms of 24 months or more. Saving interest rates for terms of 13 and 18 months are listed by IVB at 6.05%/year.

GPBank also competes in interest rates by announcing an interest rate of 6.05%/year for online deposits with a term of 12 months and 6.15%/year for terms from 13-36 months.

At Bac A Bank, the bank interest rate for terms from 18-36 months is listed at 6.1%/year. This interest rate is also listed by MBV and Dong A Bank for the same term.

Saigonbank and SHB listed interest rates at 6.1%/year for 36-month terms. In addition, Saigonbank also listed interest rates at 6%/year for 13-24-month terms.

The mobilization interest rate of 6%/year is listed by BaoViet Bank for term deposits from 15-36 months and listed by VCBNeo for term deposits from 12 months or more.

Viet A Bank and HDBank also listed interest rates of 6%/year for terms of 36 months and 15 months, respectively. In addition, HDBank listed interest rates of 6.1%/year for 18-month term deposits.

In addition to the above interest rates, the actual interest rate may be higher depending on the interest rate policy of each bank. Accordingly, customers who deposit large amounts of money may receive additional interest. Some banks are also paying actual interest rates higher than the listed interest rates.

INTEREST RATES FOR ONLINE DEPOSITS AT BANKS ON FEBRUARY 11, 2025 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.4 3 3.7 3.7 4.7 4.7
BIDV 2 2.3 3.3 3.3 4.7 4.7
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VIETCOMBANK 1.6 1.9 2.9 2.9 4.6 4.6
ABBANK 3.2 4 5.5 5.6 5.8 5.6
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.6 3.9 5.05 5.15 5.6 6
BAOVIETBANK 3.3 4.35 5.45 5.5 5.8 6
BVBANK 3.95 4.15 5.45 5.75 6.05 6.35
DONGA BANK 4.1 4.3 5.55 5.7 5.8 6.1
EXIMBANK 4.1 4.4 5.4 5.4 5.6 6.5
GPBANK 3.5 4.02 5.35 5.7 6.05 6.15
HDBANK 3.85 3.95 5.3 4.7 5.6 6.1
IVB 4 4.35 5.35 5.35 5.95 6.05
KIENLONGBANK 4.3 4.3 5.8 5.8 6.1 6.1
LPBANK 3.6 3.9 5.1 5.1 5.5 5.8
MB 3.7 4 4.6 4.6 5.1 5.1
MBV 4.3 4.6 5.5 5.6 5.8 6.1
MSB 4.1 4.1 5 5 6.3 5.8
NAM A BANK 4.3 4.5 5 5.2 5.6 5.7
NCB 4.1 4.3 5.45 5.55 5.7 5.7
OCB 4 4.2 5.2 5.2 5.3 5.5
PGBANK 3.4 3.8 5 5 5.5 5.8
PVCOMBANK 3.3 3.6 4.5 4.7 5.1 5.8
SACOMBANK 3.3 3.6 4.9 4.9 5.4 5.6
SAIGONBANK 3.3 3.6 4.8 4.9 5.8 6
SCB 1.6 1.9 2.9 2.9 3.7 3.9
SEABANK 2.95 3.45 3.95 4.15 4.7 5.45
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.35 3.65 4.65 4.65 4.85 4.85
TPBANK 3.5 3.8 4.8 4.9 5.2 5.5
VCBNEO 4.15 4.35 5.85 5.8 6 6
VIB 3.8 3.9 4.9 4.9 5.3
VIET A BANK 3.7 4 5.2 5.4 5.7 5.9
VIETBANK 4.2 4.4 5.4 5 5.8 5.9
VPBANK 3.8 4 5 5 5.5 5.5
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