The Joint Stock Commercial Bank for Investment and Development of Vietnam ( BIDV ) has just announced a reduction in deposit interest rates for terms from 6-36 months from today. This is the first time BIDV has reduced deposit interest rates since the beginning of November.
Specifically, BIDV reduced 0.1%/year for terms from 6-11 months, down to 4.5%/year. This bank reduced 0.2%/year for online deposits for terms from 12-36 months, down to 5.3%/year.
BIDV still keeps the interest rates for terms from 1-5 months. Currently, the interest rate for terms from 1-2 months is 3.2%/year, and for terms from 3-5 months is 3.5%/year.
Notably, BIDV is one of three banks that increased deposit interest rates this month. On November 14, the bank unexpectedly increased interest rates for terms from 6 to 36 months, by 0.2% per year.
Another bank in the Big4 group that has just reduced deposit interest rates is the Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ).
With online deposits applied from today, the interest rate for 1-2 month term is reduced by 0.2%/year to 3.2%/year. The interest rate for 3-5 month term is reduced by 0.15%/year to only 3.6%/year.
VietinBank adjusted down 0.1%/year for 6-9 month terms, down to 4.5%/year. Interest rates for 12-18 month terms remain at 5.3%/year and for 24-36 month terms remain at 5.5%/year.
Currently in the Big4 group ( Agribank , BIDV, VietinBank and Vietcombank), the interest rate for 6-9 month deposits at Vietcombank is the lowest, only 3.9%/year. BIDV and VietinBank are maintaining 4.5%/year, while Agribank is 4.7%/year.
For a 12-18 month term, Vietcombank has the lowest interest rate, 5%/year, while BIDV and VietinBank apply 5.3%/year, and Agribank is 5.5%/year.
| INTEREST RATE TABLE FOR ONLINE DEPOSITS AT BIG4 BANKS | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| AGRIBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| 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 | 2.6 | 2.9 | 3.9 | 3.9 | 5 | 5 |
Also today, Techcombank continue to reduce deposit interest rates. This is the bank that reduced deposit interest rates 3 times this month.
Techcombank adjusted interest rates down for terms from 6-36 months by 0.1%/year.
For newly opened savings accounts under 1 billion VND, the interest rate for 6-8 month terms is currently 4.65%/year. The interest rate for 9-11 month terms is 4.7%/year and for 12-36 month terms is 5.05%/year.
For deposits from 1-3 billion VND, customers will receive an additional 0.05%/year compared to the interest rate for deposits under 1 billion VND at corresponding terms.
The bank applies a common interest rate for all types of deposits with terms from 1-5 months. Term 1-2 months is 3.55%/year, term 3-5 months is 3.75%/year.
Since the beginning of November, 29 banks have reduced deposit interest rates: Sacombank, NCB, VIB, BaoVietBank, Nam A Bank, VPBank, VietBank, SHB, Techcombank, Bac A Bank, KienLongBank, ACB, Dong A Bank, PG Bank, PVCombank, VietA Bank, SCB, Eximbank, OceanBank, BVBank, OCB, TPBank, CBBank, HDBank, SeABank, GPBank, Saigonbank, BIDV, VietinBank.
Of which, VietBank, Dong A Bank, VIB, NCB, OCB, Bac A Bank, Sacombank, BaoVietBank, BVBank are the banks that have reduced interest rates twice this November.
Techcombank alone has reduced interest rates 3 times.
On the contrary, VIB, OCB and BIDV increased their deposit interest rates. For OCB, the bank increased interest rates for terms from 18-36 months. Meanwhile, BIDV increased the terms from 6-36 months, and VIB increased the terms from 2-5 months.
| HIGHEST DEPOSITS INTEREST RATE TABLE ON NOVEMBER 29 (%/year) | ||||||
| BANK | 1 MONTH | 3 MONTHS | 6 MONTHS | 9 MONTHS | 12 MONTHS | 18 MONTHS |
| HDBANK | 3.85 | 3.85 | 5.7 | 5.5 | 5.9 | 6.5 |
| PVCOMBANK | 3.65 | 3.65 | 5.6 | 5.6 | 5.7 | 6 |
| 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 |
| MB | 3.5 | 3.8 | 5.1 | 5.2 | 5.4 | 6.1 |
| VIB | 3.8 | 4 | 5.1 | 5.2 | 5.6 | |
| BVBANK | 3.8 | 3.9 | 5.05 | 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 |
| TPBANK | 3.6 | 3.8 | 4.8 | 5.35 | 5.7 | |
| AGRIBANK | 3.4 | 3.85 | 4.7 | 4.7 | 5.5 | 5.5 |
| 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 | |
| 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 | 2.6 | 2.9 | 3.9 | 3.9 | 5 | 5 |
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