Bank interest rates today February 18, 2025: Major banks apply new interest rates

Major banks apply new interest rates

As the State Bank targets a 16% credit growth rate for the entire industry this year, commercial banks have been actively implementing preferential loan packages since the beginning of the year. This move is aimed at boosting credit growth and supporting the 8% GDP growth target set by the Government.

Agribank is one of the leading banks in implementing preferential loan programs. Specifically, this bank has introduced 4 loan programs for corporate customers. Loan interest rates for large enterprises, import-export enterprises, FDI enterprises, and small and medium enterprises have decreased by 1.2-1.8%/year compared to the normal interest rate, depending on the subject, loan term and other factors. In particular, Agribank's current short-term loan interest rate is equal to the interest rate for 3-11 month term deposits, ranging from 2.5 - 3.5%/year.

Since early February, Vietcombank has also launched a preferential interest rate loan program for individual customers borrowing short-term production and business capital. The floor interest rate for loans is only from 4.6%/year, creating favorable conditions for individuals in need of loans.

Right after the Lunar New Year, ACB Bank announced a loan package specifically for people under 35 years old. This loan package allows customers to borrow for up to 30 years with preferential interest rates from 5.5%/year, up to 3% lower than normal home loans. This is an effort to attract young customers who are in need of housing.

According to a survey by Tien Phong reporters, preferential lending rates at state-owned banks in February ranged from 1.2 - 5.5%/year. Meanwhile, floating interest rates were around 6.5 - 7.7% for 2-3 years. Compared to 2024, the current interest rate is about 0.2 - 0.5% lower, creating more favorable conditions for borrowers.

Highest interest rate from 7 - 9%/year

Bank interest rates on February 18, 2025 have been adjusted, with four banks PVcomBank, HDBank, MSB, Vikki Digital Bank (formerly Dong A Bank) listing savings interest rates above 7.4%. In particular, some banks have launched attractive incentive programs, attracting customers to deposit money with high interest rates from 7% to 9%. Below are details on savings interest rates at major banks.

PVcomBank is currently the bank with the highest savings interest rate, up to 9%/year for a term of 12-13 months. However, to enjoy this interest rate, customers need to maintain a minimum balance of VND2,000 billion. This is one of the most special interest rate programs today, attracting the attention of large investors.

HDBank also applies competitive interest rates, with 8.1%/year for 13-month term and 7.7%/year for 12-month term. The condition to participate in this program is that customers must maintain a minimum balance of VND500 billion. In addition, for 18-month term, this bank applies an interest rate of 6%, suitable for customers with long-term deposit needs.

MSB is not far behind when offering interest rates of 8%/year for 13-month terms and 7%/year for 12-month terms. The condition is that customers must deposit at least 500 billion VND in a new savings account or automatically renew it from January 1, 2018. This is one of the banks with the most attractive interest rates among joint stock commercial banks in Vietnam.

Vikki Digital Bank (formerly Dong A Bank) also offers quite attractive interest rates, with 7.5%/year for terms of 13 months or more, requiring a minimum deposit of VND 200 billion. In addition, the 24-month term at this bank has an interest rate of 6.1%/year. Although the deposit requirement is not too high compared to other banks, Vikki Digital Bank's interest rate is still a worthy option for many customers.

Interest rate over 6%/year, no minimum deposit required

Currently, many banks are still applying interest rates of 6%/year or more for long terms without requiring a minimum deposit. This makes it easier for customers to access savings programs with attractive interest rates.

Eximbank is currently applying interest rates from 6.2% to 6.6%/year for terms from 15 to 34 months.

BVBank listed interest rates at 6.05%/year for 12-month term, 6.25% for 15-month term, 6.35% for 18-month term and 6.45% for 24-36-month term.

IVB has the highest interest rate of up to 6.45%/year for long terms from 5 to 15 years. In addition, this bank also applies 6.25%/year for 48-month terms, 6.15%/year for 36-month terms and 6.05%/year for 12-month terms.

KienLongBank currently applies 6.1%/year for 12-24 month term, 6.3%/year for 36 month term and 6.4%/year for 60 month term.

GPBank offers 6.05%/year for 12-month term and 6.15%/year for 13-36 month term.

Meanwhile, Cake by VPBank listed interest rates at 6%/year for 12-18 month terms and increased to 6.3%/year for 24-36 month terms.

OceanBank applies 6.1%/year for 24-month term.

VRB and Dong A Bank maintain interest rates of 6%/year for 24-month term.

VietABank currently has an interest rate of 6%/year for 18 and 24 month terms, and has increased to 6.1%/year for 36 month terms.

SaigonBank applies 6%/year for 13, 18 and 24 month terms, with 6.1%/year for 36 month terms.

HDBank listed interest rates of 6%/year for 15-month term and 6.1%/year for 18-month term.

BAOVIET Bank maintains 6%/year for terms of 15, 18, 24 and 36 months.

ABBank applies 6%/year for 12-month term.

CB Bank also maintains 6%/year for terms of 12 months or more.

In general, the bank interest rate market on February 18, 2025 is clearly differentiated. Large banks such as Vietcombank, VietinBank, Agribank and BIDV have high savings interest rates but are not too outstanding compared to smaller banks such as PVcomBank, HDBank and MSB.

However, customers need to pay attention to the accompanying conditions such as minimum balance and deposit term to ensure they can enjoy the highest interest rate.