Bank interest rates today March 12: Vikki Bank sharply reduces deposit interest rates

14th bank cuts interest rates

On the morning of March 12, Vikki Bank announced a new deposit interest rate schedule, including a sharp downward adjustment. The 1-month deposit interest rate decreased by 0.5%/year, down to 3.9%/year. This is a significant decrease compared to before.

In addition, the 2-month term interest rate also decreased by 0.4%/year, down to 4%/year. For the 3- and 4-month terms, the decrease was 0.25%/year, bringing the interest rate to 4.15%/year.

Deposits for 6 months saw a decrease of 0.3%/year, now only 5.3%/year. 7-8 month terms decreased by 0.25%/year, down to 5.35%/year. Similarly, 9-11 month terms also decreased by 0.25%/year, now at 5.45%/year. For 12 month terms, interest rates dropped to 5.65%/year.

Although the general interest rate has decreased, Vikki Bank still applies a special interest rate of up to 7.5%/year for customers who deposit for a term of 13 months and receive interest at the end of the term. However, the conditions to enjoy this interest rate have changed, from a minimum of VND 200 billion to VND 999 billion.

Since the beginning of March, 14 banks have adjusted their deposit interest rates down. These banks include PGBank, Viet A Bank, Kienlongbank, Bac A Bank, Eximbank, IVB, LPBank, Nam A Bank, NCB, SHB, VCBNeo, VIB, Techcombank and Vikki Bank.

Some banks still maintain interest rates above 6%/year.

Meanwhile, some banks still maintain interest rates above 6%/year for long-term deposits without requiring a minimum deposit amount. Specifically, BVBank applies an interest rate of 6%/year for 18-month terms and 6.05%/year for 24-month terms. Cake by VPBank offers 6%/year for 12-18-month terms and 6.3%/year for 24-36-month terms.

In addition, VRB and Dong A Bank apply 6%/year for 24-month term. VietABank applies 6%/year for 18-24-month term and 6.1%/year for 36-month term. HDBank also applies 6%/year for 15-month term and 6.1%/year for 18-month term. BAOVIET Bank offers 6%/year for 15, 18, 24 and 36-month terms. Meanwhile, ABBank applies 6%/year for 12-month term.