Continuing the trend of reducing deposit interest rates in March, Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ) has recently become the next bank to adjust deposit interest rates down for 1-2 month terms.
Accordingly, in Techcombank's online deposit interest rate table, the bank has reduced 0.2 percentage points for deposit interest rates for 1-2 month terms to 2.25%/year.
The bank keeps the interest rate unchanged for the remaining terms. Specifically, the interest rate is 2.55%/year for the 3-5 month term, applied to all deposit accounts.
For deposits under 1 billion VND, the online mobilization interest rate is 6.35%/year for a term of 6-8 months, 3.7%/year for a term of 9-11 months, 4.55%/year for a term of 12-14 months and 4.55%/year for a term of 15-36 months.
Techcombank adds 0.05 and 0.1% interest rate points respectively for deposit accounts from 1-3 billion VND and from 3 billion VND or more.
On the same day, Vietnam International Commercial Joint Stock Bank ( VIB ) also adjusted its deposit interest rates down. Accordingly, the bank adjusted down by 0.1% for deposit interest rates with terms from 6-18 months.
Specifically, in VIB's latest online deposit interest rate table, interest rates have decreased to 4%/year for 6-11 month terms and to 4.8%/year for 15-18 month terms.
The bank kept the bank interest rates unchanged at 2.7%/year and 2.8%/year for 1-2 month terms, respectively. The interest rate is 3%/year for 3-5 month terms. The highest deposit interest rate at VIB is currently 5%/year for 24-36 month terms.
At the end of last week, Vietnam Joint Stock Commercial Bank for Industry and Trade ( VietinBank ) announced a reduction in savings interest rates by 0.1-0.2 percentage points for all terms.
Specifically, for deposits at the counter, the interest rate for 1-2 month term deposits is reduced to 1.7%/year, 3-5 month term deposits is reduced to 2.0%/year, 6-9 month term deposits are applied at 3.0%/year, 12-18 month term deposits are at 4.7%/year, and 24 month term deposits or more are at 4.8%/year.
Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) has also reduced its savings interest rates. Specifically, the interest rate for 1-2 month deposits has decreased to 1.7%/year, 3-5 month deposits has decreased to 2.0%/year, 6-9 month deposits have decreased to 3.0%/year, and 12 month deposits have decreased to only 4.7%/year.
Since the beginning of March, 25 commercial banks have reduced deposit interest rates, including: BaoViet Bank, BIDV, Sacombank, ABBank, GPBank, PGBank, BVBank, VPBank, PVCombank, Dong A Bank, ACB, Agribank, NCB, KienLong Bank, Agribank, MB, Techcombank, SCB, VietinBank, VIB, Saigonbank, SeABank, CBBank, OceanBank, TPBank .
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