As VietNamNet reported on the morning of March 14, VRB is the bank listing the highest deposit interest rate today, with an interest rate of up to 6.4%/year for corporate customers depositing money for a term of 24-36 months.

However, according to the interest rate table at the counter for corporate customers just updated by VRB, the interest rate for 1- and 2-month terms decreased by 0.1 and 0.2%/year, respectively, to 4%/year.

Interest rates for 3-month and 5-month terms decreased by 0.2%/year, to 4.1% and 4.2%/year, respectively.

The 6-month term bank interest rate dropped sharply by 0.4%/year to 5.4%/year, while the 7-8 month term interest rate dropped by 0.3%/year to 5.5%/year, and the 9-month term also dropped by a similar amount to 5.6%/year.

Interest rates on deposits with terms of 12-18 months decreased by 0.2%/year; 12 and 13 month terms have interest rates of 5.8% and 5.9%/year respectively, while 15 and 18 month terms both have interest rates of 6.1%/year.

This is also the highest deposit interest rate at VRB at present after the bank reduced 0.3%/year for 24-36 month term interest rates, down to 6.1%/year.

Although VRB has reduced the interest rate for corporate customers, it has maintained the interest rate for individual customers. Accordingly, the highest interest rate for this customer group is 6%/year, applied for a term of 24-36 months.

Another joint venture bank, Indovina Bank ( IVB ), also reduced its deposit interest rate in early March, officially reducing the highest deposit interest rate from 6.2%/year to 5.95%/year for term deposits of 24 months or more for individual customers.

Currently, the mobilization interest rates listed by IVB are as follows: 1-month term 4%/year, 2-month term 4.1%/year, 3-month term 4.3%/year, 6 and 9-month term 5.25%/year, 12-month term 5.8%/year, 13-month term 5.85%/year, 18-month term 5.9%/year and 24-month term or more 5.95%/year.

Interest rates for individual customers listed by IVB are 0.1-0.4% higher per year than interest rates for corporate customers.

Among the three types of commercial banks operating in Vietnam, including domestic commercial banks, joint venture banks and 100% foreign-owned banks, the interest rates at foreign banks are much lower than the rest .

There are 9 foreign banks operating in Vietnam: ANZ, Hong Leong Bank, Public Bank, CIMB Bank, Woori Bank, Standard Chartered Bank, Shinhan Bank, HSBC and UOB. Among them, ANZ is the only bank that does not publicly announce its deposit interest rates.

Among the remaining banks, HSBC lists the lowest deposit interest rate, even the 1-2 month term deposit interest rate for individual customers receiving interest at the end of the term is 1%/year.

Meanwhile, the highest deposit interest rate listed by HSBC is only 3.75%/year, applied for terms from 18-36 months.

South Korean bank Woori Bank Vietnam lists interest rates from 2.5-2.9%/year for deposits with terms of less than 6 months. The highest interest rate listed here is 4.7%/year for deposits with terms of 1 to 5 years.

Standard Chartered listed online deposit interest rates from 3.13-3.26%/year for term deposits under 6 months, from 4.22-4.45%/year for term deposits from 6-36 months.

At Shinhan Bank, online deposit interest rates with terms of less than 6 months are listed at 2.5-2.7%/year, while the highest deposit interest rate is 5.5%/year with terms of 24-36 months.

Public Bank from Malaysia - is the foreign bank that offers the highest deposit interest rate. The deposit interest rate for terms under 6 months is listed at 3.8-4%/year, for terms of 6-11 months is 5.1-5.2%/year, for terms of 12-17 months and 24-60 months is 5.6%/year.

The highest deposit interest rate listed by this bank for a 12-month term is up to 5.95%/year.

W-sea bank .jpg
Illustration photo (Nam Khanh)

Another bank from Malaysia, CIMB Vietnam, is listing tiered interest rates, ranging from 3.2-4%/year for standard customers depositing for 1-3 months, and from 5-5.3%/year for 6-12 months.

For priority customers, CIMB's highest interest rate is 5.9%/year for a 12-month term for customers depositing VND 30 billion or more.

Among the foreign banks operating in Vietnam, there is also a representative from Malaysia, Hong Leong Vietnam. This bank is listing online deposit interest rates for 1-3 month terms for individual customers at 3.25-3.55%/year, 6-month terms at 4.45%/year, 9-month terms at 4.4%/year, and 12-13 month terms at 4.65%/year.

The remaining bank is UOB Vietnam, a bank from Singapore that only applies two deposit interest rates: 3%/year for 1-3 month term deposits and 4%/year for 6-12 month term deposits. This interest rate schedule is applied by UOB Vietnam for both counter and online deposits.

HIGHEST DEPOSITS INTEREST RATES FOR INDIVIDUAL CUSTOMERS AT JOINT VENTURE AND 100% FOREIGN-OWNED BANKS ON MARCH 15, 2025 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
WOORI BANK 2.5 2.9 3.9 3.9 4.7 4.7
HSBC 1 2.25 2.75 2.75 3.25 3.75
Standard Chartered 3.13 3.26 4.22 4.29 4.45 4.45
Shinhan Bank 2.5 2.7 3.7 3.7 4.9 5.3
IVB 4 4.3 5.25 5.25 5.8 5.9
VRB 3.8 4 5.1 5.3 5.7 5.9
Public Bank 3.8 4 5.1 5.2 5.6 5.95
CIMB Vietnam 3.2 4 5 5.1 5.3
Hong Leong Bank 3.25 3.55 4.45 4.4 4.65
UOB Vietnam 3 3 4 4 4