Saigon - Hanoi Commercial Joint Stock Bank ( SHB ) has just adjusted its deposit interest rate table after the adjustment on August 19, 2024, with a reduction in interest rates for deposit terms of 6 months or more.

According to the online banking interest rate table just announced by SHB, the interest rate for 6-8 month term deposits decreased by 0.1%/year to 4.9%/year; the interest rate for 9-11 month term also decreased by 0.1%/year to 5%/year.

Meanwhile, the 12-month term bank interest rate decreased by 0.2%/year to 5.3%/year. The 13-15-month term interest rate decreased by 0.1%/year to 5.5%/year - this is also the latest mobilization interest rate for the 18- and 24-month terms after decreasing by 0.2% and 0.3%/year, respectively.

Notably, the market-leading interest rate of 6.1%/year for online savings deposits with terms from 36 months has been no longer maintained by SHB after being reduced to 5.8%/year from today.

SHB keeps deposit interest rates unchanged for terms: 1-2 months at 3.5%/year, 3-4 months at 3.8%/year and 5 months at 3.9%/year.

After nearly 7 months, SHB has changed its deposit interest rate. Currently, there are still a few banks on the market that maintain interest rates for a very long time. In particular, Sacombank continues to apply the deposit interest rate schedule from August 1, 2024.

Not only SHB left the 6.1%/year interest rate mark for term deposits from 36 months, VCBNeo Bank (new name of CB) also just said goodbye to the 6%/year interest rate for terms from 12-60 months.

According to the online deposit interest rate table just announced by VCBNeo, the highest deposit interest rate is now only 5.85%/year, applied to deposit terms from 12-60 months, instead of the old interest rate of 6%/year.

VCBNeo also reduced the interest rate for deposits with terms of 6-11 months by 0.15%/year, while keeping the interest rate for terms under 6 months unchanged. Currently, the online deposit interest rate of this bank is as follows: Interest rate for 1-2 month term is 4.15%/year, 3-5 month term is 4.35%/year, 6 month term is 5.7%/year, 7-11 month term is 5.65%/year.

Hong Leong Vietnam - a bank headquartered in Malaysia - has just become the first foreign bank to reduce deposit interest rates in March, with a reduction of 0.05-0.1%/year for some deposit terms.

According to the online interest rate schedule for individual customers announced by Hong Leong Vietnam on the morning of March 6, the 9-month term bank interest rate decreased slightly by 0.05%/year, down to 4.45%/year. The 12- and 13-month term bank interest rate decreased by 0.1%/year, down to 4.65%/year.

Hong Leong keeps interest rates unchanged for 1-month terms at 3.25%/year, 3-month terms at 3.55%/year and 6-month terms at 4.45%/year.

Similarly, the online deposit interest rate for priority customers is also reduced by 0.05%/year for 9-month deposit terms, and 0.1%/year for 12 and 13-month terms.

The latest online savings interest rates for priority customers are as follows: 1-month term 3.65%/year, 3-month term 3.95%/year, 6-month term 4.8%/year, 9-month term 4.75%/year, while the highest savings interest rate is for 12-13-month term at 5.05%/year.

Hong Leong is one of the banks that currently lists the lowest deposit interest rates. Even the 36-month over-the-counter deposit interest rate is listed at only 2.7%/year.

The latest interest rates for individual customers at the counter announced by this bank on the morning of March 6 are as follows: 1-month term 3.2%/year, 3-month term 3.5%/year, 6-month term 4.4%/year, 9-month term 4.35%/year, 12-24 month term 4.6%/year, 36-month term 2.7%/year.

Previously, the joint venture Indovina Bank (IVB) also reduced deposit interest rates from March 3 with a reduction of 0.05-0.25%/year for terms from 3-24 months.

According to statistics, up to 12 banks reduced deposit interest rates in March, including: PGBank, Viet A Bank, Kienlongbank, Bac A Bank, Eximbank, IVB, LPBank, Nam A Bank, NCB, SHB, VCBNeo, Hong Leong Vietnam.

Previously, right after the meeting with the State Bank on interest rates on February 25, a series of banks reduced deposit interest rates in the last 3 days of February, including: BVBank, MSB, VietBank, Saigonbank, VIB, BaoVietBank.

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON MARCH 6, 2025 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.4 3 3.7 3.7 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 5.5 5.6 5.8 5.6
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.5 3.8 4.95 5.05 5.4 5.8
BAOVIETBANK 3.5 4.35 5.45 5.5 5.8 6
BVBANK 3.95 4.15 5.35 5.5 5.8 6
EXIMBANK 4.1 4.4 5.2 5.2 5.5 6
GPBANK 3.5 4.02 5.35 5.7 6.05 6.15
HDBANK 3.85 3.95 5.3 4.7 5.6 6.1
HONG LEONG 3.25 3.55 4.45 4.4 4.65
IVB 4 4.3 5.25 5.25 5.8 5.9
KIENLONGBANK 4.1 4.1 5.4 5.4 5.5 5.5
LPBANK 3.6 3.9 5.1 5.1 5.5 5.7
MB 3.7 4 4.6 4.6 5.1 5.1
MBV 4.3 4.6 5.5 5.6 5.8 6.1
MSB 3.9 3.9 5 5 5.6 5.6
NAM A BANK 4 4.2 4.9 5.2 5.5 5.6
NCB 4 4.2 5.35 5.45 5.6 5.6
OCB 4 4.2 5.2 5.2 5.3 5.5
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 5.6 5.8
SCB 1.6 1.9 2.9 2.9 3.7 3.9
SEABANK 2.95 3.45 3.95 4.15 4.7 5.45
SHB 3.5 3.8 4.9 5 5.3 5.5
TECHCOMBANK 3.35 3.65 4.65 4.65 4.85 4.85
TPBANK 3.5 3.8 4.8 4.9 5.2 5.5
VCBNEO 4.15 4.35 5.7 5.65 5.85 5.85
VIB 3.7 3.8 4.8 4.8 4.9 5.2
VIET A BANK 3.7 4 5.2 5.4 5.7 5.9
VIETBANK 4.1 4.4 5.4 5.4 5.8 5.9
VIKKI BANK 4.4 4.4 5.6 5.7 5.9 5.9
VPBANK 3.8 4 5 5 5.5 5.5
WOORI BANK 2.5 2.9 3.9 3.9 4.7 4.7