On June 24, the market also did not record any case of adjusting deposit interest rates. However, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) made a new move when it announced an additional interest rate of 0.3% - 0.4%/year for customers when depositing money for a term of 1-11 months and an additional 0.2%/year for customers when depositing money for a term of 24-36 months.

This policy makes VietinBank's deposit interest rates suddenly become superior compared to the other 3 banks in the big4 group.

According to the listed interest rate table (not including interest rate) announced by the bank, the interest rate for deposits with terms from 1-11 months listed by VietinBank is equal to the interest rate at BIDV, and is 0.3%-0.4% higher per year than the interest rate announced by Agribank and Vietcombank.

Specifically, VietinBank and BIDV are listing interest rates for 1-2 month term deposits at 2%/year, 3-5 month term deposits at 3.3%/year, 6-11 month term deposits at 3.3%/year and 12-18 month term deposits at 4.7%/year.

Meanwhile, Agribank and Vietcombank listed interest rates for 1-2 month deposits at only 1.6%/year, and 3-5 month deposits at 1.9%/year.

For 6-11 month term deposits, Agribank listed 3%/year, while Vietcombank listed 2.9%/year. Interest rates for 12-18 month term deposits at Vietcombank are also lower than the other 3 banks, currently listed at 4.6%/year.

The differentiation in interest rates among the four “big” banks is more evident in long-term terms from 24-36 months. Accordingly, Agribank and Vietcombank are listing interest rates of 4.7%/year for these terms, while BIDV lists 4.8%/year, and VietinBank is 5%/year.

If adding 0.2%/year according to VietinBank's new policy, the highest mobilization interest rate of this bank will be up to 5.2%/year.

INTEREST RATES ANNOUNCED BY 4 STATE-OWNED COMMERCIAL BANKS (%/year)
TERM AGRIBANK VIETCOMBANK BIDV VIETINBANK
1 MONTH 1.6 1.6 2 2
3 MONTHS 1.9 1.9 2.3 2.3
6 MONTHS 3 2.9 3.3 3.3
9 MONTHS 3 2.9 3.3 3.3
12 MONTHS 4.7 4.6 4.7 4.7
18 MONTHS 4.7 4.6 4.7 4.7
24 MONTHS 4.7 4.7 4.8 5
36 MONTHS 4.7 4.7 4.8 5

Currently, the highest interest rate on the market is 6.1%/year, applied at: NCB (deposit term from 18 to 60 months), OceanBank (term 18-36 months) and HDBank (term 18 months).

The group of banks listing a 6%/year deposit interest rate includes HDBank (15-month term) and OCB (36-month term).

However, many banks are applying interest rates for long-term deposits (24 months or more) close to the threshold of 6%/year. These include BaoViet Bank, PGBank, SHB (5.9%/year); BVBank, MB, SeABank, ABBank (5.8%/year).

Meanwhile, most banks list interest rates from 5%/year for deposit terms of 12 months or more.

On the contrary, the banking group maintains the lowest mobilization interest rates in the market today, in addition to the big 4 group, there are also SCB, ACB, Dong A Bank at less than 5%/year for all terms.

According to statistics from the beginning of June until now, 22 commercial banks have increased deposit interest rates including: VietinBank, TPBank, VIB, GPBank, BaoViet Bank, LPBank, Nam A Bank, OceanBank, ABBank, Bac A Bank, MSB, MB, Eximbank, OCB, BVBank, NCB, VietBank, VietA Bank, VPBank, PGBank, Techcombank, and ACB.

Of which, GPBank, VIB, MB, BaoViet Bank, OceanBank, NCB, TPBank, PGBank, LPBank have increased deposit interest rates twice since the beginning of June.

Eximbank has even increased deposit interest rates three times since the beginning of the month, respectively for terms of 1-12 months, 1-3 months and 6-9 months, but has reduced interest rates for terms of 15-36 months by 0.1%/year.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON JUNE 25 (%/year)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
ABBANK 3.2 3.6 4.8 4.4 5.6 5.7
ACB 2.8 3.1 3.9 4 4.7
AGRIBANK 1.6 1.9 3 3 4.7 4.7
BAC A BANK 3.5 3.7 4.9 5 5.5 5.6
BAOVIETBANK 3 3.8 4.9 5 5.5 5.8
BIDV 2 2.3 3.3 3.3 4.7 4.7
BVBANK 3.4 3.5 4.9 5.05 5.6 5.8
CBBANK 3.4 3.6 5.15 5.1 5.3 5.55
DONG A BANK 2.8 3 4 4.2 4.5 4.7
EXIMBANK 3.5 3.8 4.5 4.5 5 5.1
GPBANK 3 3.52 4.85 5.2 5.75 5.85
HDBANK 3.25 3.25 4.9 4.7 5.5 6.1
KIENLONGBANK 3 3 4.7 5 5.2 5.5
LPBANK 3.4 3.5 4.7 4.8 5.1 5.6
MB 3.1 3.4 4.2 4.3 5 4.9
MSB 3.7 3.7 4.6 4.6 5.4 5.4
NAM A BANK 3.1 3.8 4.6 5.1 5.4 5.7
NCB 3.6 3.9 5.25 5.45 5.6 6.1
OCB 3.5 3.7 4.6 4.7 4.9 5.4
OCEANBANK 3.4 3.8 4.8 4.9 5.5 6.1
PGBANK 3.2 3.5 4.5 4.5 5.3 5.8
PVCOMBANK 3.15 3.15 4.3 4.3 4.8 5.5
SACOMBANK 2.7 3.2 4 4.1 4.9 5.1
SAIGONBANK 2.3 2.5 3.8 4.1 5 5.6
SCB 1.6 1.9 2.9 2.9 3.7 3.9
SEABANK 2.7 2.9 3.6 3.8 4.45 5
SHB 3.1 3.2 4.5 4.6 5 5.3
TECHCOMBANK 2.85 3.25 4.25 4.25 4.95 4.95
TPBANK 3.3 3.6 4.5 5.2 5.4
VIB 3 3.3 4.4 4.5 5.1
VIET A BANK 3.2 3.5 4.6 4.6 5.2 5.5
VIETBANK 3.1 3.3 4.6 4.6 5.2 5.8
VIETCOMBANK 1.6 1.9 2.9 2.9 4.6 4.6
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VPBANK 3.1 3.5 4.7 4.7 5.2 5.2