Accordingly, some banks such as Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ), VCBNeo digital bank, Tien Phong Commercial Joint Stock Bank (TPBank)... have slightly increased interest rates from 0.1 - 0.2%/year for some deposit terms. Specifically, VPBank increased the deposit interest rate by 0.1%/year for all terms from 1 - 36 months.
Techcombank applies an increase of 0.1 - 0.2%/year for savings with the same term of 1 - 36 months. VCBNeo adjusts an increase of 0.2%/year for deposits with a term of 1 - 7 months. TPBank adjusts an increase of 0.2%/year for terms of 1 - 3 months and an additional 0.1%/year for terms of 6 - 36 months...
However, the deposit interest rate of 6% or more only appears in long terms such as 18-month term at Vikki Bank digital bank with 6%/year and at Ho Chi Minh City Development Joint Stock Commercial Bank ( HDBank ) with 6.1%/year. For 12-month term, the highest interest rate currently applied is 6%/year at Cake by VPBank, 5.95%/year at Global Petroleum Commercial Joint Stock Bank (GPBank). Or at Vikki Bank, customers depositing money for 12-month term is 5.95%/year for 12-month term and 6%/year when depositing online, receiving interest at the end of the term.
At the group of large banks, interest rates remained unchanged compared to the previous month. Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) maintained the rate of 2.9%/year for terms of 6-9 months, 4.6%/year for terms of 12 months and 4.7%/year for terms of 24 months or more. Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) kept the interest rate unchanged at 3.0%/year for terms of 6-9 months, 4.7%/year for terms of 12 months and 4.8%/year for terms of 24 months or more. Joint Stock Commercial Bank for Industry and Trade of Vietnam (VietinBank) applied the rate of 3%/year for terms of 6-9 months, 4.7%/year for terms of 12 months and 4.8%/year for terms of 24 months or more.
In addition, some banks still offer special interest rate packages for customers with large deposit balances. Specifically, An Binh Commercial Joint Stock Bank (ABBank) applies a rate of 9.65%/year for a 13-month term, but requires a minimum deposit of VND1,500 billion. The Public Commercial Joint Stock Bank (PVcomBank) offers an interest rate of 9%/year for a 12-13 month term with a balance of VND2,000 billion.
Experts predict that there is still room to reduce deposit interest rates, due to high credit growth while interbank interest rates continue to decrease, creating pressure to pull savings interest rates lower.
According to the market research department of MB Securities Company (MBS Research), the current interest rate level has not yet hit bottom and is likely to continue to decrease in the last months of the year. This unit forecasts that the 12-month term deposit interest rate at major commercial banks will remain around 4.7%/year in 2025.
In the latest forecast on interest rate trends, experts from Vietcombank Securities Company (VCBS) said that the State Bank will continue to maintain a stable operating policy to ensure consistency with the general interest rate level of the economy and macroeconomic indicators. At the same time, the management agency also requires commercial banks to continue to lower lending rates by cutting operating costs, promoting the application of digital technology and implementing interest rate support measures to create favorable conditions for businesses and people.
Source: https://baolaocai.vn/ngan-hang-tra-lai-suat-tiet-kiem-gan-10-cho-khach-hang-gui-toi-thieu-1500-ty-dong-post878710.html
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