Bank interest rates as of January 9, 2026: A ceiling of 4.75% for short-term deposits is becoming common.
Statistics from January 9, 2026 show that 29 out of 35 banks listed interest rates above 4% per year for terms under 6 months, with many institutions pushing the rate up to the ceiling of 4.75% per year.
The financial market has seen a significant shift in online deposit interest rates at the beginning of 2026. According to the latest statistics, interest rates for terms of 1-5 months at most commercial banks have reached or are approaching the ceiling of 4.75%/year set by the State Bank of Vietnam. This is an interest rate that was considered rare just a few months ago.
Currently, 29 out of 35 domestic commercial banks list deposit interest rates online at 4% per annum or higher for short-term maturities. The group of banks maintaining interest rates below 4% per annum now only includes a few names such as SCB, Vietcombank, VietinBank, Agribank, BIDV, and KienlongBank.
The 4.75% interest rate ceiling is widely applied.
Notably, nine banks simultaneously listed the maximum interest rate of 4.75%/year for all terms from 1 to 5 months, including: BVBank, OCB, PGBank, VIB, PVCombank, Sacombank, TPBank, VCBNeo, and VPBank. If we include Nam A Bank (applied to the 2-month term), the number of banks reaching the interest rate ceiling has risen to 10.
For the 3-month term, the list continues to expand with the addition of Techcombank, LPBank, and MBV, bringing the total to 13 banks. For the 4 and 5-month terms, NCB has also joined the group offering an interest rate of 4.75%/year. This development reflects the increasing competitive pressure for deposit mobilization throughout the system.
Pressure from maturity mismatches and the LDR index.
Analyzing the causes, financial experts point out that the loan-to-deposit ratio (LDR) across the entire banking sector at the end of Q3 2025 reached 83.02%, close to the 85% limit. To ensure liquidity and balance capital sources, banks were forced to increase interest rates to attract deposits from the public.
Furthermore, the mismatch in loan maturities is becoming a significant problem. Currently, approximately 80% of the system's mobilized capital is short-term, while 50% of outstanding loans are concentrated in medium and long-term loans. This pressure is expected to increase in 2026 as key infrastructure projects accelerate disbursement.
Online deposit interest rate table for terms of 1-5 months (%)
| BANK | 1 MONTH | 2 MONTHS | 3 MONTHS | 4 MONTHS | 5 MONTHS |
|---|---|---|---|---|---|
| BVBANK | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| OCB | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| PGBANK | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| PVCOMBANK | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| SACOMBANK | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| VPBANK | 4.75 | 4.75 | 4.75 | 4.75 | 4.75 |
| TECHCOMBANK | 4.35 | 4.65 | 4.75 | 4.65 | 4.65 |
| ACB | 4.3 | 4.4 | 4.65 | 4.65 | 4.65 |
| AGRIBANK | 3.0 | 3.0 | 3.5 | 3.5 | 3.5 |
| VIETCOMBANK | 2.1 | 2.1 | 2.4 | 2.4 | 2.4 |
| SCB | 1.6 | 1.6 | 1.9 | 1.9 | 1.9 |
Forecast of trends for 2026
According to SHS Securities, deposit interest rates will continue to face upward pressure in 2026. A key factor is the roadmap to remove treasury deposits from total deposits when calculating LDR, which will force banks to be more proactive in seeking funding from the primary market.
However, a positive point is that the State Bank of Vietnam still maintains credit limits and controls credit growth at around 15%. This helps to somewhat cool down the interest rate race compared to the peak period in 2025. Currently, the 12-month interest rate remains at 5.3% at the Big4 banks and around 5.5% - 5.7% at large private banks.
