More banks increase deposit interest rates

Vietnam International Commercial Joint Stock Bank ( VIB ) has just adjusted the 1-month deposit interest rate, increasing by 0.1 percentage point, to 2.6%/year. This is also the only deposit term adjusted by VIB this time.

Online deposit interest rates for the remaining terms are kept unchanged by VIB. Interest rates for 2-month terms are 2.6%/year, 3-5 months are 2.8%/year, 6-11 months are 4%/year, 15-18 months are 4.8%/year, and 24-36 months are 5%/year.

VIB is the only bank adjusting deposit interest rates on the morning of April 11.

In the past 3 weeks, the interest rates of banks have increased again after about 1 year of only decreasing. Since the beginning of April, a series of banks have increased their interest rates, including: HDBank , MSB, Eximbank, NCB, VPBank, KienLong Bank.

Of which, VPBank and Eximbank increased deposit interest rates at the end of March, along with SHB and Saigonbank.

Also from the beginning of April 2024, banks that have reduced deposit interest rates include: Vietcombank, PGBank, SCB, Techcombank, ABBank, Dong A Bank, Viet A Bank, Eximbank, Nam A Bank.

The fact that interest rates have been very low for a long time has caused people to shift from bank savings to other investment channels. This is considered the main reason why banks have increased interest rates.

In the interbank interest rate market, after a sharp increase in early April, interbank interest rates have turned to fall sharply again.

The interbank interest rate announced by the State Bank on April 8 for the overnight term is 2.66%/year, much lower than the interest rate of 4.59%/year on April 2.

In addition, interbank interest rates for the remaining terms have also cooled down. The 1-week term is now 2.96%/year, the 2-week term is now 3.29%/year, the 1-month term is now 3.22%/year, and the 3-month term is now 3.96%/year.

Yesterday, April 10, the State Bank successfully offered VND4,000 billion worth of treasury bills on the open market, with a term of 28 days, at an interest rate of 2.9%/year.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON APRIL 11
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
VIETBANK	3.1	3.5	4.6	4.8	5.3	5.8
OCB	3	3.2	4.6	4.7	4.9	5.4
HDBANK	2.95	2.95	4.6	4.4	5	5.9
NCB	3.2	3.5	4.55	4.65	5	5.5
KIENLONGBANK	3	3	4.4	4.8	5	5.5
NAM A BANK	2.7	3.4	4.3	4.7	5.1	5.5
VIET A BANK	2.9	3.2	4.3	4.3	4.8	5.1
PVCOMBANK	2.85	2.85	4.3	4.3	4.8	5.1
ABBANK	2.9	3	4.3	4.1	4.1	4.1
BAOVIETBANK	3	3.25	4.3	4.4	4.7	5.5
SHB	2.8	3	4.2	4.4	4.9	5.2
VPBANK	2.4	2.7	4.2	4.2	4.8	4.8
BAC A BANK	2.8	3	4.2	4.3	4.6	5.1
MSB	3.5	3.5	4.1	4.1	4.5	4.5
EXIMBANK	3	3.3	4.1	4.1	4.9	5.1
BVBANK	2.85	3.05	4.05	4.35	4.65	5.25
DONG A BANK	2.8	3	4	4.2	4.5	4.7
LPBANK	2.6	2.7	4	4.1	5	5.6
VIB	2.6	2.8	4	4		4.8
CBBANK	3.1	3.3	4	3.95	4.15	4.4
GPBANK	2.3	2.82	3.95	4.2	4.65	4.75
OCEANBANK	2.6	3.1	3.9	4.1	4.9	5.2
PGBANK	2.6	3	3.8	3.8	4.3	4.8
TPBANK	2.5	2.8	3.8		4.7	5
SAIGONBANK	2.3	2.5	3.8	4.1	5	5.6
SACOMBANK	2.3	2.7	3.7	3.8	4.7	4.9
MB	2.2	2.6	3.6	3.7	4.6	4.7
TECHCOMBANK	2.25	2.55	3.55	3.55	4.45	4.45
ACB	2.3	2.7	3.5	3.8	4.5
SEABANK	2.7	2.9	3.2	3.4	3.75	4.6
BIDV	1.8	2.1	3.1	3.1	4.7	4.7
VIETINBANK	1.7	2	3	3	4.7	4.7
AGRIBANK	1.6	1.9	3	3	4.7	4.7
VIETCOMBANK	1.6	1.9	2.9	2.9	4.6	4.6
SCB	1.65	1.95	2.95	2.95	3.95	3.95