The Vietnam Bank for Agriculture and Rural Development (Agribank) has just unexpectedly adjusted its deposit interest rates, increasing by 0.2%/year the interest rate for deposits with terms from 1 to 5 months, but decreasing by 0.1%/year the interest rate for deposits with terms from 6 to 11 months.

According to the online interest rate table posted by Agribank this morning (October 16), the latest 1-2 month term bank interest rate is 2.2%/year; the 3-5 month term bank interest rate increased to 2.7%/year.

On the contrary, Agribank reduced 0.1%/year savings interest rates for terms from 6-11 months to 3.2%/year.

Savings interest rates for the remaining terms remain unchanged. The 12-18 month term has an interest rate of 4.7%/year, while the 24 month term has the highest interest rate of 4.8%/year.

With the newly adjusted deposit interest rate table as above, Agribank is the bank applying the highest deposit interest rate in the big4 banking group for deposits with terms of 1-5 months.

Currently, the online interest rate for 1-2 month term at BIDV and VietinBank is 2%/year, while at Vietcombank it is 1.6%/year. The bank interest rate for 3-5 month term at BIDV and VietinBank is 2.3%/year, while at Vietcombank it is 1.9%/year.

ONLINE DEPOSITS INTEREST RATES AT 4 STATE-OWNED COMMERCIAL BANKS
TERM AGRIBANK VIETINBANK BIDV VIETCOMBANK
1 MONTH 2.2 2 2 1.6
2 MONTHS 2.2 2 2 1.6
3 MONTHS 2.7 2.3 2.3 1.9
4 MONTHS 2.7 2.3 2.3 1.9
5 MONTHS 2.7 2.3 2.3 1.9
6 MONTHS 3.2 3.3 3.3 2.9
7 MONTHS 3.2 3.3 3.3 2.9
8 MONTHS 3.2 3.3 3.3 2.9
9 MONTHS 3.2 3.3 3.3 2.9
10 MONTHS 3.2 3.3 3.3 2.9
11 MONTHS 3.2 3.3 3.3 2.9
12 MONTHS 4.7 4.7 4.7 4.6
13 MONTHS 4.7 4.7 4.7 4.6
18 MONTHS 4.7 4.7 4.7 4.6
24 MONTHS 4.8 5 4.9 4.7
36 MONTHS 5 4.9

However, Agribank's interest rates for 6-11 month terms are lower than those for deposits of the same term at BIDV and VietinBank (these two banks are applying an interest rate of 3.3%/year). Vietcombank is still the bank applying the lowest interest rate, only 2.9%/year for deposits of 6-11 months.

For online deposit interest rates for terms of 12-18 months, Agribank still maintains the same interest rate as BIDV and VietinBank (4.7%/year), while Vietcombank is 4.6%/year.

The difference in bank interest rates in the big4 group occurs with long terms, Agribank pays an interest rate of 4.8%/year for 24-month term deposits, while the interest rate for the same term at VietinBank is 5%/year, at BIDV is 4.9%/year and at Vietcombank is 4.7%/year.

With Agribank’s recent adjustment of deposit interest rates, the bank has increased interest rates for three consecutive months. Previously, on September 10, Agribank increased interest rates by 0.2% per year for 1-2 month terms, by 0.3% per year for 3-5 month terms, and by 0.1% per year for 6-11 month terms.

Previously, on August 1, Agribank increased 0.2%/year interest rates for 1-2 month and 6-11 month deposits, increased 0.3%/year interest rates for 3-5 month deposits, and increased 0.1%/year interest rates for 24 month deposits.

Thus, after three consecutive adjustments, the 1-2 month term deposit interest rate at Agribank increased by 0.6%/year, the 3-5 month term deposit interest rate increased by 0.8%/year, and the 6-11 month term deposit interest rate increased by 0.2%/year.

The remaining banks still maintain the old interest rates. Up to now, only 3 banks have increased their deposit interest rates since the beginning of October, including LPBank, Bac A Bank and Eximbank.

HIGHEST DEPOSITS INTEREST RATES AT COMMERCIAL BANKS ON OCTOBER 16, 2024
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
ABBANK 3.2 3.7 5 5.2 5.6 5.7
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.8 4.1 5.25 5.35 5.7 5.85
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 5.55 5.5 5.7 5.85
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
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.9 4.1 5.2 5.2 5.6 5.9
MB 3.3 3.7 4.4 4.4 5.1 5
MSB 3.7 3.7 4.6 4.6 5.4 5.4
NAM A BANK 3.8 4.1 5 5.2 5.6 5.7
NCB 3.8 4.1 5.45 5.65 5.8 6.15
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
SCB 1.6 1.9 2.9 2.9 3.7 3.9
CBBANK 2.95 3.45 3.75 3.95 4.5 5.45
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.45 4.55 4.55 4.85 4.85
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.2 3.6 4.6 4.6 5.1
VIET A BANK 3.4 3.7 4.8 4.8 5.4 5.7
VIETBANK 3.8 4 5.2 5 5.6 5.9
VPBANK 3.6 3.8 5 5 5.5 5.5