Indovina Bank Limited (IVB) - a joint venture between VietinBank and Cathay United Bank (Taiwan) - has recently increased its deposit interest rate to the highest level of 6.3%/year for individual customers depositing for a term of 24 months or more.

This bank is also listing interest rates of up to 6.1%/year for customers making 18-month savings deposits.

The highest interest rates for the remaining terms announced by IVB are 5.9%/year (13-month term), 5.8%/year (12-month term) and 5.1%/year (6-11 month term).

Notably, the above interest rate schedule is applied by IVB to deposit accounts under VND10 billion. Deposits of VND10 billion or more will be applied the agreed interest rate, which means that the actual bank interest rate when saving at IVB may be higher than 6.3%/year.

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Interest rates for individual customers announced by IVB.

Compared to other banks, the conditions at IVB are slightly higher when the minimum savings deposit is from 5 million VND, while most commercial banks stipulate the minimum savings deposit is 1 million VND, some banks even stipulate from 500,000 VND.

Apart from IVB, only ABBank is the official bank listing the deposit interest rate at 6.3%/year. ABBank is listing this bank's interest rate for 24-month term deposits.

In addition, some banks such as GPBank, although not officially listed, put up signs inviting deposits in front of transaction points with an interest rate of 6.3%/year.

Besides, PGBank, PVCombank,... also display signs with the highest interest rate of 6%/year even though the actual listed interest rates are all below this level.

According to VietNamNet statistics, some banks officially listed deposit interest rates from 6% to 6.3%/year, such as ABBank (6.2-6.3%/year); Bac A Bank (6.15%/year); Viet A Bank, BaoViet Bank and BVBank (6%/year); Dong A Bank, OceanBank, SHB and HDBank (6.1%/year); IVB (6.1-6.3%/year); Saigonbank (6-6.1%/year).

According to statistics, 8 banks have increased deposit interest rates since the beginning of November, including: IVB, Viet A Bank, VIB, MB, Agribank, Techcombank, ABBank and VietBank.

INTEREST RATES FOR ONLINE DEPOSITS AT BANKS ON NOVEMBER 14, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.2 2.7 3.5 3.5 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 3.9 5.5 5.6 5.9 6.2
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.95 4.25 5.4 5.5 5.8 6.15
BAOVIETBANK 3.3 4 5.2 5.4 5.8 6
BVBANK 3.8 4 5.2 5.5 5.8 6
CBBANK 3.8 4 5.5 5.45 5.65 5.8
DONG A BANK 3.9 4.1 5.55 5.7 5.8 6.1
EXIMBANK 3.9 4.3 5.2 4.5 5.2 5.8
GPBANK 3.2 3.72 5.05 5.4 5.75 5.85
HDBANK 3.85 3.95 5.1 4.7 5.5 6.1
IVB 3.8 4.1 5.1 5.1 5.8 6.1
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.6 3.8 5 5 5.4 5.7
MB 3.5 3.9 4.5 4.5 5.1 5.1
MSB 3.9 3.9 4.8 4.8 5.6 5.6
NAM A BANK 3.8 4.1 5 5.2 5.6 5.7
NCB 3.9 4.2 5.55 5.65 5.8 5.8
OCB 3.9 4.1 5.1 5.1 5.2 5.4
OCEANBANK 4.1 4.4 5.4 5.5 5.8 6.1
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
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 4.55 4.55 4.85 4.85
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.5 3.8 4.8 4.8 5.3
VIET A BANK 3.7 4 5.2 5.4 5.7 5.9
VIETBANK 3.9 4.1 5.2 5 5.6 5.9
VPBANK 3.6 3.8 4.8 4.8 5.3 5.3