HDBank has just announced a 0.2%/year reduction for deposits with terms from 1-13 months.

For online deposits, bank interest rates for 1-5 month terms are reduced to 3.65%/year, 6-month terms are reduced to 5.5%/year. Interest rates for 7-11 month terms are reduced to 5.2%/year, 12-month terms are reduced to 5.7%/year, and 13-month terms are reduced to 5.9%/year.

HDBank still maintains the interest rate for terms from 15-36 months. Currently, the interest rate for 15-month terms is 6.4%/year, 18-month terms is 6.5%/year (the highest in the market for online deposits) and 24-36 months is 6.3%/year.

For counter deposits, interest rates also decreased by 0.2%/year.

HDBank still applies the "special interest rate" policy for deposits of VND300 billion or more for 12 and 13 month terms, at 8% and 8.4%/year, respectively. The "special interest rate" decreased by 0.2%/year compared to yesterday.

In the last two days of November, a series of major banks reduced deposit interest rates including: Agribank, VietinBank, Vietcombank, BIDV, MB, and Techcombank.

In particular, Vietcombank continues to lower deposit interest rates to an unprecedented low, with 1-2 month terms down to only 2.4%/year, 3-5 month terms down to only 2.7%/year, 6-11 month terms down to 3.7%/year and 12-24 month terms down to 4.8%/year.

The situation of banks having excess cash causes both deposit and lending interest rates to decrease.

BVBank has just reported the progress of using the proceeds from the share issuance in May 2023. BVBank issued more than 79.5 million shares to existing shareholders and collected more than VND 795 billion.

The bank added VND99,365 billion to short-term loans, VND400 billion to government bonds, and VND296 billion to market loans. As of November 22, the collected money was still sitting in the account without being disbursed a single dong.

Although excess liquidity leads to a decrease in deposit interest rates, many banks still have policies to attract depositors.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON DECEMBER 1 (%/year)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
PVCOMBANK 3.65 3.65 5.6 5.6 5.7 6
HDBANK 3.65 3.64 5.5 5.3 5.7 6.5
OCEANBANK 4.3 4.5 5.5 5.6 5.8 5.8
VIETBANK 3.8 4 5.4 5.5 5.8 6.2
KIENLONGBANK 4.55 4.75 5.4 5.6 5.7 6.2
VIET A BANK 4.4 4.4 5.4 5.4 5.7 6.1
NCB 4.25 4.25 5.35 5.45 5.7 6
BAOVIETBANK 4.2 4.55 5.3 5.4 5.6 6
GPBANK 4.05 4.05 5.25 5.35 5.45 5.55
SHB 3.5 3.8 5.2 5.4 5.6 6.1
BAC A BANK 3.8 4 5.2 5.3 5.5 5.85
LPBANK 3.8 4 5.1 5.2 5.6 6
OCB 3.8 4 5.1 5.2 5.4 6.1
CBBANK 4.2 4.3 5.1 5.2 5.4 5.5
VIB 3.8 4 5.1 5.2 5.6
BVBANK 3.8 3.9 5 5.2 5.5 5.55
EXIMBANK 3.6 3.9 5 5.3 5.6 5.7
MSB 3.8 3.8 5 5.4 5.5 6.2
VPBANK 3.7 3.8 5 5 5.3 5.1
SCB 3.75 3.95 4.95 5.05 5.45 5.45
NAMA BANK 3.6 4.2 4.9 5.2 5.7 6.1
SAIGONBANK 3.3 3.5 4.9 5.1 5.4 5.6
PGBANK 3.4 3.6 4.9 5.3 5.4 6.2
DONG A BANK 3.9 3.9 4.9 5.1 5.4 5.6
ABBANK 3.7 4 4.9 4.9 4.7 4.4
MB 3.3 3.6 4.8 4.9 5.2 5.7
TPBANK 3.6 3.8 4.8 5.35 5.7
SACOMBANK 3.6 3.8 4.7 4.95 5 5.1
TECHCOMBANK 3.55 3.75 4.65 4.7 5.05 5.05
SEABANK 3.8 4 4.6 4.75 5.1 5.1
ACB 3.3 3.5 4.6 4.65 4.7
AGRIBANK 3.2 3.6 4.5 4.5 5.3 5.3
BIDV 3.2 3.5 4.5 4.5 5.3 5.3
VIETINBANK 3.2 3.6 4.5 4.5 5.3 5.3
VIETCOMBANK 2.4 2.7 3.7 3.7 4.8 4.8