On the morning of June 7, SCB Bank announced a reduction in interest rates for deposits with terms of 6 months or more. Accordingly, online deposit interest rates for terms of 6-11 months have decreased from 7.8% to only 7.15 - 7.35%/year.
Currently, the interest rate for 6-month and 9-month terms at SCB is 7.35%/year. The interest rate for 7, 8, 10 and 11-month terms is 7.15%/year.
SCB has reduced the 12-month deposit interest rate by 0.4 percentage points to 7.45%/year. This is also the highest current interest rate for deposits at SCB.
Meanwhile, the interest rate for 13-month deposits decreased by a similar amount to 7.35%/year. Terms after 13 months also decreased by 0.4 percentage points and were all listed at 7.25%/year.
Similarly, VPBank also reduced deposit interest rates today, the third time in the past month.
According to the online interest rate table, interest rates for terms of 6 months or more are adjusted down from 0.2 to 0.3 percentage points depending on the term.
For online deposits under VND10 billion, VPBank listed the interest rate for 6-month, 10-month, 11-month, 12-month and 13-month terms at 7.4%/year. 7-month terms are reduced to 7.5%/year; 8-9-month terms are also reduced to 7.7%/year. Terms of 15 months or more are reduced to 6.6%/year.
The remaining banks still maintain the old interest rates. Thus, 8 banks have reduced their deposit interest rates since the beginning of the month, including: VPBank, SCB, VietA Bank, TPBank, SHB, HDBank, KienLongBank, and Saigonbank.
According to VietNamNet statistics from the beginning of May until now, banks that have reduced deposit interest rates include: VietA Bank, VIB, OCB, Eximbank, MSB, VPBank, TPBank, Vietcombank, Agribank, VietinBank, BIDV, KienLongBank, NamA Bank, NCB, Saigonbank, PVCombank, HDBank, OceanBank, Sacombank, Techcombank, BacA Bank, SCB, DongA Bank, VietBank, MB, SeABank, ACB, LPBank and BaoViet Bank.
Banks that reduced interest rates twice during this period are: SCB, Eximbank, BIDV, VietinBank, Vietcombank, Agribank, TPBank, BacA Bank, OCB, MSB, and Techcombank.
VPBank, OCB, KienLongBank, Saigonbank, NamA Bank and Sacombank have reduced deposit interest rates three times within just one month.
VietBank and VietA Bank alone have reduced deposit interest rates four times since the beginning of May.
| HIGHEST INTEREST RATES OF BANKS ON JUNE 7 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| GPBANK | 5 | 5 | 8.3 | 8.4 | 8.5 | 8.6 |
| ABBANK | 5 | 5 | 8.2 | 8.2 | 8.3 | 8.5 |
| OCB | 4.8 | 4.95 | 8 | 8.1 | 8.1 | 7.9 |
| NCB | 5 | 5 | 7.9 | 7.9 | 8.1 | 8 |
| HDBANK | 5 | 5 | 7.9 | 6.9 | 7.9 | 7.1 |
| NAMA BANK | 5 | 5 | 7.9 | 7.8 | 7.8 | 7.6 |
| CBBANK | 4.8 | 4.9 | 7.85 | 7.95 | 8.15 | 8.25 |
| VIETA BANK | 5 | 5 | 7.8 | 7.8 | 8 | 8 |
| VIETBANK | 5 | 5 | 7.8 | 7.7 | 7.8 | 7.8 |
| BAOVIETBANK | 5 | 5 | 7.7 | 7.8 | 8.1 | 7.8 |
| BACA BANK | 5 | 5 | 7.7 | 7.8 | 7.9 | 8.1 |
| VIB | 5 | 5 | 7.7 | 7.8 | 7.9 | |
| OCEANBANK | 5 | 5 | 7.6 | 7.7 | 7.8 | 8.1 |
| PVCOMBANK | 5 | 5 | 7.5 | 7.9 | 8.2 | 8.3 |
| EXIMBANK | 5 | 5 | 7.5 | 7.5 | 7.6 | 7.6 |
| VPBANK | 4.9 | 4.9 | 7.4 | 7.7 | 7.4 | 6.6 |
| VIETCAPITAL BANK | 4.5 | 4.8 | 7.4 | 7.7 | 8 | 8.3 |
| TPBANK | 4.8 | 5 | 7.4 | 7.5 | 7.5 | |
| SCB | 5 | 5 | 7.35 | 7.35 | 7.45 | 7.25 |
| PGBANK | 5 | 5 | 7.3 | 7.3 | 7.5 | 7.5 |
| MSB | 5 | 5 | 7.3 | 7.3 | 7.4 | 7.4 |
| SHB | 5 | 5 | 7.2 | 7.2 | 7.7 | 7.7 |
| SAIGONBANK | 5 | 5 | 7.2 | 7.3 | 7.6 | 7.4 |
| LPBANK | 4.8 | 4.8 | 7.2 | 7.2 | 7.3 | 7.9 |
| SEABANK | 5 | 5 | 7.1 | 7.19 | 7.4 | 7.6 |
| ACB | 5 | 5 | 7 | 7.05 | 7.1 | |
| TECHCOMBANK | 4.7 | 4.7 | 6.9 | 6.9 | 6.9 | 6.9 |
| SACOMBANK | 5 | 5 | 6.8 | 7.1 | 7.4 | 7.7 |
| KIENLONGBANK | 5 | 5 | 6.7 | 6.9 | 7.1 | 7.3 |
| AGRIBANK | 4.7 | 4.9 | 6.6 | 6.6 | 6.8 | 6.6 |
| MB | 4.8 | 4.8 | 6.5 | 6.6 | 7.2 | 7.3 |
| DONGA BANK | 4.5 | 4.5 | 6.35 | 6.45 | 6.7 | 6.9 |
| BIDV | 4.6 | 5 | 6.2 | 6.2 | 6.9 | 6.8 |
| VIETINBANK | 4.5 | 4.9 | 6 | 6 | 6.8 | 6.8 |
| VIETCOMBANK | 4.5 | 5 | 6 | 6 | 6.8 | |
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