Full list of banks with the highest interest rates

Which bank has the highest interest rate now?

PVcomBank is currently the bank with the highest savings interest rate in the market, up to 10% applied to a 12-13 month deposit term and requiring a minimum deposit of VND 2,000 billion.

Ranked second is HDBank , applying 8.4%/year for a 13-month term with the condition of maintaining a minimum balance of 300 billion VND and 8%/year for a 12-month term.

At 6-month term, savings interest rates of banks in the system fluctuate from 3.25% - 5.5%/year.

At 12-month term, savings interest rates of banks in the system fluctuate from 4.4% - 10%/year.

At 24-month term, savings interest rates of banks in the system fluctuate from 4%-6.3%/year.

Statistics of banks with the highest savings interest rates today:

Compare the highest bank interest rates for 6-month terms

Compare the highest bank interest rates for 12-month terms

Compare the highest bank interest rates for 24-month terms

It can be seen that although deposit interest rates have continuously decreased to record lows, this has not caused a strong shift of cash flow out of the banking system to flow through other investment channels such as real estate and stocks.

According to data from the State Bank, the amount of money deposited in banks by people and businesses at the end of 2023 reached the highest level ever with more than 13.5 million billion VND, an increase of 14% compared to 2022.

Thus, in 2023, deposits of residents and economic organizations increased by 1.68 million billion VND, the highest increase in the past decades, with an increase of over 800,000 billion VND in the fourth quarter of 2023 alone. Compared to 2022, the amount of deposits increased in 2023 nearly double.

In its 2024 strategy report, Petroleum Securities Joint Stock Company (PSI) stated that commercial banks' deposit interest rates were lower than during the pandemic.

The State Bank's management efforts and the improvement in banking system liquidity have caused commercial banks' deposit interest rates to drop even lower than during the "cheap money" period of the pandemic years. The 12-month deposit interest rate of state-owned commercial banks has dropped to only 5.3%/year.

Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.

Readers can see other articles about the highest bank interest rates HERE.

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