After BaoViet Bank and GPBank reduced deposit interest rates and ACB increased deposit interest rates yesterday, this morning (January 3), the trend of interest rate reduction continued at some banks.
Specifically, SHB has just reduced interest rates for terms of 6 months or more by 0.2 percentage points for terms of 6-13 months, 0.3 percentage points for terms of 18 months and 0.1 percentage points for terms of 24-36 months. Meanwhile, interest rates for terms of 1-5 months remain at the same level.
Accordingly, the online interest rate for 1-month term is 3.5%/year, 2-month term is 3.7%/year, 3-month term is 3.8%/year, 4-month term is 3.9%/year, and 5-month term is 4%/year.
For longer terms, the interest rate for 6-8 month term is 5%/year, 9-11 month term is 5.2%/year, 13 month term is 5.5%/year, 18 month term is 5.8%/year and 24-36 month term is 6.2%/year.
SHB is one of the few banks that still maintains interest rates above 6%/year for long-term deposits.
Also today, Eximbank reduced interest rates by 0.1 percentage points for deposits with terms from 1 to 36 months.
According to the online interest rate table, the 1-month, 2-month, and 3-month terms are 3.4% - 3.5% - 3.7%/year, respectively. The 6-month, 9-month, and 12-month terms are 4.6% - 5% - 5.1%/year, respectively.
The 15-month term currently has a new interest rate of 5.2%/year. The terms from 18-36 months have been adjusted down to 5.5%/year, which is also the highest deposit interest rate at Eximbank.
In addition to reducing deposit interest rates, Eximbank also changed the form of giving gifts to depositors.
Similarly, Bac A Bank adjusted interest rates down for all terms. Interest rates for 1-13 month terms decreased by 0.1 percentage points, and for 15-36 month terms decreased by 0.05 percentage points.
Accordingly, the 1-2 month term is 3.7%/year, 3 months 3.9%/year, 4 months 4.1%/year, 5 months 4.3%/year.
For the remaining terms, the bank interest rate for 6-8 month terms is 5.1%/year after the reduction; 9-11 month terms have an interest rate of 5.2%/year; 12-13 month terms have an interest rate of 5.4%/year; 15 month terms have an interest rate of 5.5%/year, and 18-36 month terms have a new interest rate of 5.8%/year.
In addition to the above banks, the deposit interest rates at the remaining banks remained unchanged. Thus, in January 2024, 5 banks reduced deposit interest rates, including: BaoViet Bank, GPBank, Eximbank, SHB, Bac A Bank.
On the contrary, a bank that increases deposit interest rates is ACB.
| HIGHEST DEPOSITS INTEREST RATES AT BANKS ON JANUARY 3, 2024 | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| HDBANK | 3.65 | 3.65 | 5.5 | 5.5 | 5.7 | 6.5 |
| KIENLONGBANK | 3.95 | 3.95 | 5.4 | 5.6 | 5.7 | 6.2 |
| NCB | 4.25 | 4.25 | 5.35 | 5.45 | 5.7 | 6 |
| ABBANK | 3.2 | 3.5 | 5.3 | 5 | 4.3 | 4 |
| VIETBANK | 3.8 | 4 | 5.3 | 5.4 | 5.7 | 6.1 |
| VIET A BANK | 4.3 | 4.3 | 5.3 | 5.3 | 5.6 | 6 |
| PVCOMBANK | 3.35 | 3.35 | 5.3 | 5.3 | 5.4 | 5.7 |
| GPBANK | 3.4 | 3.92 | 5.15 | 5.3 | 5.35 | 5.45 |
| BAC A BANK | 3.7 | 3.9 | 5.1 | 5.2 | 5.4 | 5.8 |
| BAOVIETBANK | 3.8 | 4.15 | 5.1 | 5.2 | 5.6 | 5.8 |
| CBBANK | 4.2 | 4.3 | 5.1 | 5.2 | 5.4 | 5.5 |
| OCB | 3.8 | 4 | 5.1 | 5.2 | 5.4 | 6.1 |
| BVBANK | 3.8 | 3.9 | 5.05 | 5.2 | 5.5 | 5.55 |
| SHB | 3.5 | 3.8 | 5 | 5.2 | 5.4 | 5.8 |
| DONG A BANK | 3.9 | 3.9 | 4.9 | 5.1 | 5.4 | 5.6 |
| NAMA BANK | 3.3 | 4 | 4.9 | 5.2 | 5.7 | 6.1 |
| PGBANK | 3.1 | 3.5 | 4.9 | 5.3 | 5.8 | 6.1 |
| OCEANBANK | 3.7 | 3.9 | 4.8 | 5 | 5.5 | 5.7 |
| LPBANK | 3.5 | 3.7 | 4.8 | 3.5 | 5.3 | 5.7 |
| VIB | 3.4 | 3.5 | 4.7 | 4.7 | 5.1 | |
| EXIMBANK | 3.4 | 3.7 | 4.6 | 5 | 5.1 | 5.5 |
| SACOMBANK | 3.6 | 3.8 | 4.7 | 4.95 | 5 | 5.1 |
| TPBANK | 3.2 | 3.4 | 4.4 | 5 | 5.3 | |
| MB | 2.9 | 3.2 | 4.4 | 4.6 | 4.9 | 5.4 |
| SEABANK | 3.6 | 3.8 | 4.4 | 4.55 | 5 | 5.1 |
| VPBANK | 3.3 | 3.4 | 4.3 | 4.3 | 5.1 | 5.1 |
| SAIGONBANK | 2.8 | 2.8 | 4.2 | 4.4 | 5.1 | 5.5 |
| MSB | 3.5 | 3.5 | 4.2 | 4.2 | 4.9 | 4.9 |
| TECHCOMBANK | 2.95 | 3.15 | 4.05 | 4.1 | 4.75 | 4.75 |
| ACB | 2.9 | 3.2 | 3.9 | 4.2 | 4.8 | |
| BIDV | 2.3 | 2.6 | 3.6 | 3.6 | 5 | 5 |
| AGRIBANK | 2 | 2.5 | 3.6 | 3.6 | 5 | 5 |
| VIETINBANK | 2.2 | 2.5 | 3.5 | 3.5 | 5 | 5 |
| SCB | 1.95 | 2.25 | 3.25 | 3.25 | 4.85 | 4.85 |
| VIETCOMBANK | 1.9 | 2.2 | 3.2 | 3.2 | 4.8 | 4.8 |
After the State Bank of Vietnam injected a net VND4.5 trillion through the open market last week (7-day term, interest rate 4%/year), interest rates in the interbank market have cooled down.
Previously, overnight interbank interest rates jumped sharply to 3.6% for overnight terms (up 330 basis points compared to the previous week).
Liquidity pressure in the last trading week of the year was higher than usual, causing interbank interest rates to increase sharply. According to SSI Research, interest rates in market 2 will continue to experience stronger fluctuations until the Lunar New Year holiday.
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