Savings interest rates decrease, which bank has the highest?

According to Thanh Nien 's records on the morning of May 29, a series of banks such as Vietcombank, BIDV, Agribank, VietinBank, SeaABank, ABBank, VietABank, NamABank... all applied new interest rates.

Bank savings interest rates have continuously decreased in recent times.

Accordingly, banks reduced their interest rates by an average of 0.5% per year for terms under 6 months, corresponding to the reduction of the State Bank. For terms of 6 months or more, the banking system reduced its interest rates by an average of 0.2 - 0.3% per year compared to 2 weeks ago.

At private banks, the listed interest rate is no more than 8%/year. The bank with the highest interest rate in the market is GPBank with 8.6%/year for a 24-month term. Ranked second is VietAbank with a mobilization interest rate of 8.5%/year for a 24-month term.

Some other units pay the highest in the market, ranging from 8.2 - 8.5%/year including: SeABank, ABBank, VietABank and PVCombank... If 2 weeks ago, the interest rate of approximately 9% was still available, now, the highest interest rate is only 8.5%/year.

Currently, the Big 4 group (4 state-owned commercial banks) continue to have the lowest deposit interest rates in the system. Vietcombank's highest interest rate at the counter remains at 7.2%/year. Meanwhile, Agribank, BIDV and VietinBank have all reduced it to 6.8%/year. Agribank even reduced the term from 13 months to 6.6%/year. BIDV and VietinBank apply 6.8%/year for all terms of 12 months or more.

In addition, short-term interest rates of the Big 4 group continued to be adjusted down to lower than the prescribed ceiling, at 4.1%/year for 1-month term and 4.6%/year for 3-month term.

Notably, not only short-term interest rates but also long-term interest rates have been sharply reduced by many banks.

At SeABank, the bank reduced the interest rate by 0.3 - 0.4 percentage points for terms of 6 months or more. Accordingly, the current 12-month term interest rate is 6.15 - 7.6%/year, in which customers depositing from 100 million VND will enjoy an interest rate of 7.4%/year, over 10 billion VND is 7.6%/year. Similarly, the interest rate for 36-month term deposits is also reduced to 7.8 - 8.0%/year for amounts from 100 million VND.

ABBank, which used to have the highest deposit interest rate in the market, has adjusted its deposit interest rates for terms from 6 months down by 0.3 - 0.7 percentage points. Specifically, ABBank's 36-month term interest rate has decreased from 9.2%/year to 8.5%/year. In addition, the 12-month term interest rate has decreased by 0.5 percentage points to 8.3%/year. The 6-month term interest rate has decreased by 0.3 percentage points to 8.2%/year.

Previously, in the telegram on the afternoon of May 26, Prime Minister Pham Minh Chinh continued to request the State Bank to continue to resolutely direct the review and instruction of the commercial banking system to reduce costs and reduce lending interest rates practically and to the right subjects to solve difficulties for production and business, especially regarding supply chain disruptions and increased production costs.

Immediately after that, the State Bank decided to reduce the operating interest rate for the third time this year.

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