Interest rates at An Binh Commercial Joint Stock Bank ( ABBank ) suddenly increased sharply with the highest level reaching 1.4%/year. This is a rare increase after an interest rate adjustment by a credit institution.

According to the online mobilization interest rate table, the 1-2 month term remains unchanged at 3.2% and 3.3%/year, respectively.

ABBank increased the 3-month deposit interest rate by 0.4%/year to 4%/year, while the 4- and 5-month deposit interest rate remained at 3.6%/year.

Interest rates for subsequent terms were adjusted to increase sharply, with the 6-month term increasing by 0.8%/year to 5.6%/year; the 7-11-month term increasing by 1.4%/year, all listed at 5.8%/year.

Notably, the 12-month deposit interest rate at ABBank has officially reached 6%/year after increasing by 0.4%/year.

Meanwhile, interest rates for deposits with terms from 13 to 60 months remain at 5.7% per year.

This is the second time in June that ABBank has increased its deposit interest rates. Previously, on June 6, 2024, the bank also increased interest rates across the board from 1-60 months. The strongest increase occurred for the 13-month term, up to 1.6%/year. This is the strongest increase ever.

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Interest rates at ABBank increased sharply. Photo: ABBank.

Besides ABBank, for the first time in 1 year, reaching the interest rate of 6%/year, Saigon Hanoi Commercial Joint Stock Bank ( SHB ) also reached the interest rate of 6.1%/year for the first time (terms from 36 months) from today after adjusting an increase of 0.2%/year for all terms.

Accordingly, online mobilization interest rates, 1-2 months 3.3%/year, 3-5 months 3.4%/year, 6-8 months 4.7%/year, 9-11 months 4.8%/year, 12-month term 5.2%/year, 13-15 month term 5.3%/year, 18-month term 5.5%/year, 24-month term 5.8%/year, and term from 36 months or more currently has the highest interest rate, up to 6.1%/year.

This is the first time SHB has increased its deposit interest rate this month, making it the 23rd bank to increase deposit interest rates since the beginning of June, and the 4th bank to list an interest rate of up to 6.1%/year (after NCB, OceanBank, and HDBank).

Also this morning, Orient Commercial Joint Stock Bank ( OCB ) increased deposit interest rates for the second time since the beginning of the month.

Specifically, the interest rate for 1-5 month term deposits increased by 0.2%/year. Currently, the interest rate for 1 month term is 3.7%/year, 2 months is 3.8%/year, 3-4 months is 3.9%/year, and 5 months is 4.3%/year.

Interest rates for 6-15 month terms increased by 0.3% per year. Accordingly, 6-8 month terms increased to 4.9% per year, 9-11 month terms increased to 5% per year, and 12-15 month terms increased to 5.2% per year.

OCB keeps the interest rate unchanged for the remaining terms. The 18-month term is 5.4%/year, the 21-month term is 5.5%/year, the 24-month term is 5.8%/year, and the 36-month term has the highest interest rate of 6%/year.

Contrary to the general trend, Vietnam International Commercial Joint Stock Bank ( VIB ) unexpectedly reduced deposit interest rates from today with a decrease of 0.1-0.2%/year for some terms.

Accordingly, online deposit interest rates for 6-11 month terms decreased by 0.1%/year, to 4.3%/year for 6-8 month term deposits, and 4.4%/year for 9-11 month term deposits.

Interest rates for 15-36 month deposits were reduced by VIB by 0.2%/year, to 4.9%/year for 15-18 month deposits, and 5.1%/year for 24-36 month deposits.

VIB keeps the interest rate for short-term deposits unchanged, 1-2 month term is 3%/year, and 3-5 month term is 3.3%/year.

Previously, VIB increased deposit interest rates twice on June 3 and 11.

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON JUNE 26, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 1.6 1.9 3 3 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 4 5.6 4.8 6 5.7
ACB 2.8 3.1 3.9 4 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
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 3.7 3.9 4.9 5 5.2 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 3.3 3.4 4.6 4.8 5.2 5.4
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 4.3 4.4 4.9
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
VPBANK 3.1 3.5 4.7 4.7 5.2 5.2

According to statistics, from the beginning of June until now, 23 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, ACB, and SHB.

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

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

Similarly, after two interest rate increases, VIB also reduced interest rates for 6-36 month terms by 0.1 - 0.2%/year.