Banks start raising interest rates

Banks start raising interest rates, extending upward trend

According to Lao Dong, on September 3, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) issued a new deposit interest rate schedule, increasing for short terms. However, Eximbank's interest rate also decreased for one term.

Eximbank's online deposit interest rates are currently listed as follows:

One-month interest rate increased by 0.3 percentage points to 3.8%/year.

3-month term interest rate is 4.3%/year.

6-month term interest rate is 5.2%/year.

9-month term interest rate is 4.5%/year.

12-month term interest rate decreased by 0.2 percentage points, down to 5.2%/year.

18-month term interest rate at 5.1%/year.

36-month term interest rate is 5.2%/year.

Online deposit interest rate table at Eximbank. Screenshot.

Eximbank's counter deposit interest rates are currently listed as follows:

1-month term interest rate is 2.8%/year.

3-month term interest rate is 3.0%/year.

6-month term interest rate is 4.3%/year.

9-month term interest rate is 3.9%/year.

12-month term interest rate is 4.7%/year.

18-month term interest rate at 4.6%/year.

36-month term interest rate is 4.8%/year.

Interest rate table for deposits at the counter at Eximbank. Screenshot.

Thus, Eximbank is the first bank to adjust savings interest rates in September with an unexpected alternating trend of increases and decreases. Last month, the market also recorded 3 banks "going against the current" to reduce interest rates including ABBank, Bac A Bank and SeABank.

However, in general, the adjustment of interest rates from the beginning of 2024 has been maintained until now. According to statistics from Lao Dong, 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.

Details of deposit interest rates at banks, updated on September 3, 2024