Series of 17 banks massively increased interest rates

17 banks increase interest rates in succession

Last month, the market recorded 17 banks increasing savings interest rates including: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank, SHB, VietBank, PVCombank, Nam A Bank, HDBank.

Notably, August interest rates recorded a large bank in the Big4 group increasing interest rates, Agribank. According to records, Agribank interest rates increased by 0.1 - 0.2 percentage points at all terms; currently fluctuating within the range of 1.7 - 4.8%/year.

Listed banks increased by an average of 0.3 - 0.3 percentage points at all terms, especially at 6-month and 9-month terms; some banks increased by up to 0.8 percentage points, for example Sacombank.

On the contrary, the August savings interest rate market also recorded 3 banks reducing savings interest rates: ABBank, SeABank and Bac A Bank.

(See more high interest rates HERE)

After a series of banks increased interest rates, where is the best place to deposit money?

According to Lao Dong, at the 1-month term, the highest deposit interest rate currently belongs to CBBank with an interest rate of 3.8%/year.

At the 3-month term, the highest interest rate is 4.3%/year currently listed by Eximbank.

At the 6-month term, CBBank jumped to the top with an interest rate of 5.55%/year.

At 9-month term, the highest interest rate is 5.7%/year at ABBank.

At the 12-month term, ABBank, after adjustment, is still leading, listing an interest rate of 6.0%/year for this term.

Details of deposit interest rates at banks, updated on September 2, 2024