More banks reduce interest rates from April

Illustration photo.

OCB is the first bank to reduce interest rates in April. OCB's deposit interest rates are adjusted down by 0.1%/year for terms from 6-36 months.

After adjustment, OCB applies online deposit interest rates under VND100 million as follows: 1-month term at 4%/year; 2-month term at 4.1%/year; 3-4-month term at 4.2%/year; 5-month term increased to 4.6%/year.

Longer terms such as 6-11 months are applied at 5.1%/year; 12-15 months is 5.2%/year; 18 months is at 5.4%/year; 21 months is 5.5%/year; 24 months is 5.6%/year and 36 months is 5.8%/year.

Previously, in March, 21 banks reduced deposit interest rates. This is a premise for lending interest rates to decrease, creating favorable conditions for organizations and individuals who want to borrow money from banks for consumption, production and business activities, etc.

According to records from banks, the highest savings interest rate is up to 7.5 - 9.65%. However, to enjoy this interest rate, customers must meet special conditions.

ABBank leads with special interest rates, at 9.65%/year for customers opening new/renewing savings deposits of VND 1,500 billion or more, with a term of 13 months.

PVcomBank also applies a special interest rate of 9%/year for a 12-13 month term when depositing money at the counter. The condition is that customers must maintain a minimum balance of VND2,000 billion.

HDBank applies an interest rate of 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, with the condition of maintaining a minimum balance of VND 500 billion.

Vikki Bank applies an interest rate of 7.5%/year for deposits with a term of 13 months or more, with a minimum amount of VND999 billion; Bac A Bank is listing the highest interest rate of 6% for a term of 18-36 months for deposits over VND1 billion; IVB applies an interest rate of 6.15% for a term of 36 months, the condition applies to deposits of VND1,500 billion or more.

ACB applies an interest rate of 6%/year for a 13-month term with interest paid at the end of the term when customers have a deposit balance of 200 billion VND or more.

At LPBank, with deposits of 300 billion VND or more, the interest rate applied to customers receiving interest at the end of the term is 6.5%/year, monthly interest is 6.3%/year and interest at the beginning of the term is 6.07%/year.

Currently, interest rates above 6%/year are being listed by some banks for long-term deposits but do not require a minimum deposit amount.

Cake by VPBank applies an interest rate of 6%/year for a term of 12-18 months and 6.3%/year for a term of 24-36 months; Vikki Bank applies an interest rate of 6% for a term of 24 months; VietABank applies an interest rate of 6% for a term of 18 and 24 months, 6.1% for a term of 36 months; HDBank applies an interest rate of 6% for a term of 18 months; GPBank applies an interest rate of 6.05%/year for a term of 12 months, 6.15%/year for a term of 13-36 months.

Commenting on interest rate trends, economic expert Le Xuan Nghia said that the State Bank will continue to operate interest rates stably to ensure consistency with the general interest rates of the economy as well as other macroeconomic indicators.

The operator will continue to direct commercial banks to continue reducing lending interest rates by cutting costs, applying digital technology to reduce costs, and supporting interest rates for businesses and people.

Deposit interest rates at banks may continue to decrease, but the decrease will not be significant. Increasing interest rates is very difficult. At the same time, lending interest rates at banks are expected to remain stable, even decreasing slightly in some priority areas.

According to vtv.vn

Source: https://baokhanhhoa.vn/kinh-te/tai-chinh-ngan-hang/202504/them-ngan-hang-giam-lai-suat-tu-thang-4-be54cfa/