There is a phenomenon in the market of bank employees calling customers to invite them to deposit money with interest rates higher than the bank's official announcement.

Speaking to VietNamNet, some customers of Southeast Asia Commercial Joint Stock Bank (SeABank) said that they received calls from the bank's customer service staff inviting them to deposit savings at SeABank with interest rates higher than the interest rates currently publicly listed by the bank, as well as much higher than the invitation signs placed in front of transaction points.

Specifically, SeABank customers are invited to make 6-month and 12-month savings deposits with interest rates of 5.25%/year and 6.15%/year, respectively.

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The sign offers interest rates of up to 5.95% per year, but the bank's staff calls customers to offer higher interest rates. Photo: Tuan Nguyen.

Although SeABank staff committed to a 6-month term deposit interest rate of 5.25%, the actual deposit interest rate at the counter for this term was listed by the bank at only 3.75%/year, while the online deposit interest rate is 3.95%/year (a difference of 1.5%-1.3%/year compared to the offered interest rate).

Currently, SeABank lists 12-month term interest rates at the counter and online at 4.5% and 4.7%/year, respectively (a difference of 1.65%-1.45%/year compared to the solicited interest rate).

SEABANK'S OFFICIAL LISTED DEPOSIT INTEREST RATE TABLE ON OCTOBER 23, 2024 (%/YEAR)
TERM AT THE COUNTER ONLINE
1 - 2 MONTHS 2.95 2.95
3 - 5 MONTHS 3.45 3.45
6 MONTHS 3.75 3.95
7 MONTHS 3.85 4.05
8 MONTHS 3.9 4.1
9 MONTHS 3.95 4.15
10 MONTHS 4 4.2
11 MONTHS 4.05 4.25
12 MONTHS 4.50 4.7
15 MONTHS 5.25 5.25
18 - 36 MONTHS 5.45 5.45

Faced with new developments in current savings interest rates, some banks have launched "unique" tricks to attract deposits.

Eximbank has recently become the first bank to announce a special interest rate schedule for weekends. Accordingly, online interest rates for the last 2 days of the week (Saturday and Sunday) are higher than usual, with the highest difference being up to 1.1%/year.

In addition to Eximbank and SeABank, some banks, although not officially raising interest rates, are placing billboards advertising sky-high deposit interest rates in front of their transaction points. Notably, these interest rates are not officially announced in the interest rate tables posted by the banks.

Along with placing signs inviting depositors to deposit money with interest rates up to 6.25%/year, recently, some GPBank transaction points in Hanoi continued to display signs inviting depositors to deposit money with interest rates up to 6.3%/year - the highest rate on the market today for regular depositors.

Notably, the highest mobilization interest rate according to GPBank's official listed interest rate schedule is 5.85%/year, for online deposits with terms from 13-36 months.

Bac A Bank is also displaying a sign inviting deposits, with the highest interest rate up to 6.05%/year while the highest officially listed interest rate is only 5.85%/year, applied to deposits with terms from 18-36 months.

PGBank offers deposit interest rates of up to 6%/year, while the highest announced rate is 5.9%/year, applied to deposits with a term of 24-36 months.

At PVCombank, signs inviting customers to deposit money with an interest rate of 6%/year have been placed in front of transaction points for several months now, while the highest announced interest rate is only 5.8%/year, applied to deposits with a term of 18-36 months.

Since the beginning of October, very few banks have increased their deposit interest rates, including: Agribank (1-5 month term), MSB, LPBank, Eximbank, and Bac A Bank. On the contrary, Agribank reduced 0.1%/year deposit interest rates for terms of 6-11 months and Techcombank reduced 0.1%/year interest rates for terms of 1-36 months.

INTEREST RATES FOR ONLINE DEPOSITS AT BANKS ON OCTOBER 23, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.2 2.7 3.2 3.2 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 3.7 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 3.9 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 3.8 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
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 3.25 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