More and more banks are listing interest rates for deposits with terms of less than 6 months at 4%/year or higher. Eximbank has raised its interest rates for deposits with terms of 3-5 months to a ceiling of 4.75%/year. This is the maximum interest rate set by the State Bank for deposits with terms of less than 6 months.

However, Eximbank only applies an interest rate of 4.75%/year for online deposits on weekends. For online deposits on weekdays, the applied interest rate is 4.7%/year.

In addition to Eximbank, MBV applies this interest rate to customers depositing money for a term of 4-5 months. MBV is also the leading bank in terms of 3-month term interest rates, currently listed at 4.6%/year.

Interest rates of 4.5%/year are being offered by a series of banks, including Nam A Bank for 2-5 month terms; VietBank, BaoViet Bank, NCB, OCB for 5 month term deposits.

According to statistics from the highest deposit interest rate table, there are up to 19 banks listing deposit interest rates with terms of less than 6 months from 4%/year or higher.

Of these, 11 banks listed savings interest rates from 4%/year for a 1-month term. Notably, MBV, Nam A Bank, and KienlongBank listed savings interest rates for a 1-month term of up to 4.3%/year.

On the contrary, the Big4 group and SCB are still the banks paying the lowest interest rates for deposits with terms of less than 6 months.

SCB and Vietcombank are listing interest rates for 1-2 month deposits at 1.6%/year, and 3-5 month deposits at 1.9%/year.

BIDV and VietinBank both listed interest rates for 1-2 month terms at 2%/year, and 3-5 month terms at 2.3%/year.

The highest interest rate among the Big 4 banks belongs to Agribank. This bank is listing the interest rate for 1-2 month terms at 2.4%/year, and for 3-5 month terms at 3%/year.

According to statistics from the beginning of February 2025, Techcombank is the only bank that adjusted its deposit interest rate by reducing 0.2%/year for a term of 1-5 months, but then increased it by 0.2%/year for a term of 1-11 months.

Today is the second consecutive day that the market has not recorded any interest rate adjustments.

HIGHEST DEPOSITS INTEREST RATE FOR TERM UNDER 6 MONTHS ON FEBRUARY 6, 2025 (%/YEAR)
BANK 1 MONTH 2 MONTHS 3 MONTHS 4 MONTHS 5 MONTHS
EXIMBANK 4 4.2 4.75 4.75 4.75
MBV 4.3 4.4 4.6 4.7 4.7
NAM A BANK 4.3 4.5 4.5 4.5 4.5
VIETBANK 4.2 4.2 4.4 4.4 4.5
BAOVIETBANK 3.3 3.6 4.35 4.4 4.5
NCB 4.1 4.2 4.3 4.4 4.5
OCB 4 4.1 4.2 4.1 4.5
VCBNEO 4.15 4.35 4.35 4.35 4.35
IVB 4 4.1 4.35 4.35 4.35
DONGA BANK 4.1 4.1 4.3 4.3 4.3
KIENLONGBANK 4.3 4.3 4.3 4.3 4.3
BAC A BANK 3.75 3.75 4.05 4.15 4.25
BVBANK 3.95 4 4.15 4.2 4.25
MSB 4.1 4.1 4.1 4.1 4.1
VIET A BANK 3.7 3.9 4 4.1 4.1
GPBANK 3.5 4 4.02 4.04 4.05
MB 3.7 3.8 4 4 4
VPBANK 3.8 4 4 4 4
ABBANK 3.2 3.5 4 4 4
HDBANK 3.85 3.85 3.95 3.95 3.95
LPBANK 3.6 3.7 3.9 3.9 3.9
VIB 3.8 3.9 3.9 3.9 3.9
SHB 3.5 3.5 3.8 3.8 3.9
PVCOMBANK 3.3 3.4 3.6 3.7 3.8
TECHCOMBANK 3.35 3.35 3.65 3.65 3.65
SACOMBANK 3.3 3.5 3.6 3.6 3.6
SAIGONBANK 3.3 3.3 3.6 3.6 3.6
ACB 3.1 3.2 3.5 3.5 3.5
SEABANK 2.95 2.95 3.45 3.45 3.45
AGRIBANK 2.4 2.4 3 3 3
BIDV 2 2 2.3 2.3 2.3
VIETINBANK 2 2 2.3 2.3 2.3
SCB 1.6 1.6 1.9 1.9 1.9
VIETCOMBANK 1.6 1.6 1.9 1.9 1.9
TPBANK 3.7 4
PGBANK 3.4 3.5 3.8

According to the State Bank of Vietnam's report on the developments of the foreign exchange and interbank markets during the week of January 20-24, the transaction turnover in the interbank market during the period in VND reached approximately VND 2,637,721 billion, an average of VND 527,544 billion/day, an increase of VND 119,832 billion/day compared to the previous week; the transaction turnover in USD converted to VND during the week reached approximately VND 378,208 billion, an average of VND 75,642 billion/day, a decrease of VND 1,017 billion/day compared to the previous week.

By maturity, VND transactions mainly focus on overnight terms (63% of total VND transaction turnover) and 2-week terms (35% of total VND transaction turnover). For USD transactions, the terms with the largest turnover are overnight and 2-week terms with proportions of 60% and 35% respectively.

For VND transactions, interest rates tended to decrease slightly in most key terms. Specifically, the average interest rates for overnight, 2-week and 1-month terms decreased by 0.03%/year to 0.05%/year, down to 4.17%/year; 4.77%/year and 4.88%/year, respectively.

For USD transactions, the average interest rate fluctuated little, decreasing slightly in some remaining key terms compared to last week. Specifically, the average overnight interest rate remained at 4.31%/year, the average interest rate for 2-week and 1-month terms decreased by 0.09%/year and 0.07%/year to 4.36%/year and 4.46%/year, respectively.

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