A series of banks have reduced their rates, some banks have reduced their rates for the fourth time.

This morning, ABBank drastically adjusted interest rates to the lowest level. In the second interest rate reduction, this bank adjusted most deposit terms to below 5%/year.

Specifically, the 1-2 month term is only 3.7-3.8%/year after a decrease of 0.8 percentage points. The 3-5 month term is only 3.9%/year after a decrease of 0.6 percentage points. Notably, the interest rates for the 6-month, 9-month, 10-month and 11-month terms are now only 4.9%/year after a sharp decrease of 1-1.3 percentage points, a rare decrease in the market.

ABBank reduced the interest rate for online deposits for 12 months to 4.7% per year after a 0.9 percentage point reduction. The interest rate for 13 months and 15-36 months is only 4.4% per year after a 0.9 percentage point reduction. The interest rate for 48 and 60 months is only 4% per year.

Currently, the 7-8 month term is still maintained at 5.2%/year. The interest rate of long-term deposits at ABBank is lower than the 1-5 month term at many other banks.

Similarly, Techcombank reduced interest rates for the fourth time since early September. Specifically, Techcombank reduced 0.2 percentage points for 3-5 month terms to 3.85%/year. Interest rates for terms of 6 months or more were all reduced by 0.1 percentage points.

For savings accounts under 1 billion VND, the interest rate for 6-8 month terms is 5.15%/year, for 9-11 month terms is 5.2%/year, and for 12-36 month terms is 5.45%/year.

Techcombank adds 0.05 and 0.1 percentage points of interest respectively for newly opened savings accounts with amounts from 1 billion to less than 3 billion and from 3 billion VND or more.

Also today, HDBank continued to reduce deposit interest rates for all terms from 1 month or more.

According to online mobilization channels, the 1-5 month term decreased by 0.3 percentage points to 4.45%/year. The 6-11 month term was listed at 6.1%/year.

The 12-month, 24-month and 36-month terms also decreased by 0.2 percentage points to 6.3%/year. With a similar decrease, the interest rate for the 13-month term is now 6.5%/year, while the 15-month term is 6.4%.

Bank interest rates have dropped sharply. (Photo: N. Hue)

SHB Bank has also just announced a reduction in interest rates for all fixed deposit terms of 1 month or more.

Online deposit interest rates for 1-month terms have dropped the most by 0.5 percentage points to 4%/year. 2-3 month terms currently have interest rates of 4.2% and 4.3%/year, respectively, while 4-5 month terms are 4.4% and 4.5%/year, respectively, after a 0.25 percentage point reduction.

Interest rates for terms from 6-13 months decreased from 0.3 to 0.4 percentage points. Accordingly, the 6-8 month term is only 5.7%/year; the 9-month term has an interest rate of 5.8%/year; the 10-11 month term is 5.9%/year; the 12-13 month term is 6.1%/year. Meanwhile, the 18-36 month term remains at 6.4%/year.

For the second time this month, SeABank has reduced interest rates for all fixed deposit terms of 1 month or more. SeABank has sharply reduced 0.8 percentage points for 1-2 month term deposits to 3.65%/year. Deposit terms of 3-5 months have also been sharply reduced by 0.6 percentage points to 3.85%/year. This interest rate applies to all deposit accounts.

For newly opened savings accounts under 1 billion VND, the interest rate for 6-8 month terms slightly decreased by 0.05 percentage points to 5.15%/year.

SeABank continued to reduce interest rates for 9-11 month terms by 0.15 percentage points to 5.2%/year, while interest rates for 12-36 month terms decreased slightly by 0.05 percentage points to 5.45%/year.

Customers will receive an additional 0.05 and 0.1 percentage points in interest rates for deposit terms of 6 months or more with deposit amounts of over VND 1 billion and over VND 3 billion, respectively.

According to statistics, from the beginning of September until now, 30 banks have reduced interest rates including: Eximbank, BacA Bank, PG Bank, Saigonbank, MB, OCB, Sacombank, SHB, GPBank, Techcombank, ACB, Nam A Bank, KienLongBank, TPBank, CBBank, MSB, Viet A Bank., BaoVietBank, PVCombank, Agribank, NCB, BVBank, Vietcombank, BIDV, SeABank, Dong A Bank, ABBank, OceanBank, VietinBank, HDBank.

Of which, Viet A Bank, MB, ACB, SeABank, Eximbank, Nam A Bank, MSB, NCB, HDBank, SHB, ABBank and GPBank have reduced interest rates twice since the beginning of the month.

OCB and Techcombank have reduced interest rates 3 and 4 times respectively since the beginning of September.

HIGHEST DEPOSITS INTEREST RATE TABLE ON SEPTEMBER 25 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
PVCOMBANK	4.25	4.25	6.4	6.4	6.5	6.8
SCB	4.75	4.75	6.35	6.35	6.45	6.35
NCB	4.75	4.75	6.3	6.35	6.4	6.4
CBBANK	4.2	4.3	6.3	6.4	6.6	6.7
LPBANK	4.35	4.35	6.3	6.3	6.4	6.8
DONG A BANK	4.5	4.5	6.2	6.3	6.55	6.75
BAC A BANK	4.75	4.75	6.2	6.25	6.3	6.4
HDBANK	4.45	4.45	6.1	6.1	6.3	6.5
VIET A BANK	4.6	4.6	6.1	6.2	6.5	6.5
BAOVIETBANK	4.4	4.75	6.1	6.3	6.5	6.5
PG BANK	4.45	4.45	6	6	6.1	6.6
OCEANBANK	4.6	4.6	5.8	5.9	6.1	6.5
BVBANK	4.4	4.7	5.75	5.9	6.05	6.15
SHB	4	4.3	5.7	5.8	6.1	6.4
SAIGONBANK	3.6	4	5.7	5.7	5.9	5.9
NAMA BANK	4.65	4.65	5.6	5.9	6.3	6.7
VIB	4.75	4.75	5.6	5.6		6.2
SACOMBANK	3.7	3.9	5.5	5.8	6.2	6.4
VPBANK	4.4	4.45	5.5	5.5	5.8	5.1
KIENLONGBANK	4.75	4.75	5.4	5.6	5.7	6.4
OCB	4.1	4.25	5.3	5.4	5.5	5.9
ACB	3.6	3.8	5.3	5.3	5.5
MSB	4	4	5.2	5.4	5.5	5.5
MB	3.6	3.8	5.2	5.3	5.6	6.3
EXIMBANK	4	4	5.2	5.5	5.6	5.8
TECHCOMBANK	3.65	3.85	5.15	5.2	5.45	5.45
SEABANK	3.65	3.85	5.15	5.2	5.45	5.45
GPBANK	4.25	4.25	5.15	5.25	5.35	5.45
TPBANK	3.8	4	5	5	5.55	6
ABBANK	3.7	3.9	4.9	5.2	4.7	4.4
AGRIBANK	3.4	3.85	4.7	4.7	5.5	5.5
VIETINBANK	3.4	3.85	4.7	4.7	5.5	5.5
BIDV	3.4	3.85	4.6	4.6	5.5	5.5
VIETCOMBANK	3	3.5	4.5	4.5	5.5	5.5