Modern Vietnam Bank (MBV) has just announced the "flash interest rate" applied in 3 days before the Lunar New Year 2025, from January 22-24, 2025.

Accordingly, the interest rate for 1-2 month term deposits at the counter is 4.5%/year, an increase of 0.5%/year compared to the normal interest rate.

MBV increased the 3-5 month term deposit interest rate by 0.45%/year to 4.75%.

With the above increase, MBV is temporarily leading the market in terms of savings interest rates for terms from 1 to 5 months. In particular, the interest rate of 4.75%/year for terms from 3 to 5 months has just reached the ceiling interest rate according to the State Bank's regulations for interest rates for terms from 1 to less than 6 months.

The "flash interest rate" for 6-8 month term applied by MBV for 3 days January 22, 23, 24, 2025 is 5.8%/year, 0.5%/year higher than the normal interest rate.

With a similar increase, the interest rate for 9-11 month term deposits in these 3 days was announced by MBV at 5.9%/year.

Notably, the 12-month deposit interest rate is 6.2%/year, an increase of 0.5%/year compared to the normal mobilization interest rate.

In addition to MBV, there are currently only a few banks listing interest rates above 6%/year for a 12-month term, including: MSB (6.3%/year, applicable to individual customers opening salary accounts at MSB, employees working at MSB and TNG Group); Kienlongbank (6.1%/year); GPBank (6.05%/year), BVBank and VCBNeo (6%/year).

MBV also announced the Lucky Money program for customers who deposit savings during the first 3 days of spring, from February 3-5, 2025. Accordingly, customers who deposit savings of 50 million VND or more will receive lucky money of 55,000 VND.

The above move by MBV shows that this bank is quite quick in "taking advantage" of idle money from office workers at a time when many workers receive their year-end salaries and bonuses.

It is known that the trend of customers depositing money for short terms, from 3-6 months, increased dramatically in the last month of the year of the Dragon. In particular, the average deposit of 50 million VND mainly comes from office workers.

Besides, large deposits of 2-10 billion VND in short terms also increased sharply this month.

According to statistics, from the beginning of January 2025 to now, 7 banks have increased their deposit interest rates, including: Agribank, Bac A Bank, NCB, MBV, Eximbank, KienlongBank, VietBank. However, NCB and Agribank also reduced interest rates for terms of 12-36 months. Also reducing interest rates are ABBank, SeABank, Nam A Bank and Techcombank.

ONLINE DEPOSITS INTEREST RATES AT BANKS ON JANUARY 23, 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 3.8 5.6 5.7 5.9 5.6
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.9 4.2 5.35 5.45 5.8 6.2
BAOVIETBANK 3.3 4.35 5.2 5.4 5.8 6
BVBANK 3.9 4.05 5.4 5.7 6 6.3
DONGA BANK 4.1 4.3 5.55 5.7 5.8 6.1
EXIMBANK 4 4.3 5.3 4.5 5.5 6.7
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 4.45 4.45 4.85 4.85
TPBANK 3.7 4 4.8 5.3 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