Bank interest rates today February 25: More than 10 banks increase deposit interest rates
Bank interest rates today February 25, 2025, more than 10 banks have increased deposit interest rates since the beginning of the year. However, the increase has not been sudden and the highest is 7.2% for a 24-month term.
More than 10 banks have increased deposit interest rates since the beginning of the year.
Today, February 25, 2025, more than 10 banks have increased their deposit interest rates since the beginning of the year. According to the latest report of the State Bank of Vietnam (SBV) on the developments in deposit and lending interest rates at commercial banks in January 2025, the average VND deposit interest rates are divided by term as follows:
Demand deposits and term deposits under 1 month: 0.1 - 0.2%/year.
Term deposits from 1 month to less than 6 months: 3.1 - 4.0%/year.
Term deposits from 6 months to 12 months: 4.4 - 5.3%/year.
Term deposits from 12 months to 24 months: 4.9 - 5.9%/year.
Term deposits over 24 months: 6.9 - 7.2%/year.
The State Bank of Vietnam said that the average VND lending interest rate of commercial banks for new loans and old outstanding loans is between 6.7 - 9.0%/year. For priority sectors, the short-term lending interest rate is about 3.9%/year, lower than the maximum short-term lending interest rate as prescribed by the State Bank of Vietnam (4%/year).
According to statistics from the Banking Association, in the period from January 6 to February 14, in the deposit interest rate table of 36 banks, 7 banks increased interest rates, 3 banks adjusted interest rates down, and 2 banks took measures to simultaneously increase and decrease interest rates for some terms.
Of these, Eximbank recorded a sharp increase of 0.9% for the 9-month term, reaching 5.2%/year when transacting at the counter and 5.4%/year via online transactions. The terms from 12 to 36 months transacted online also increased from 0.4 to 1.0%/year, bringing the interest rate to 5.6 to 6.6%/year, with the highest rate being 6.6%/year for the 24-36 month term online - this is the highest rate in the system with an amount under 200 billion.
BVBank also increased 0.32% for 36-month terms when transacting at the counter, reaching 6.32%/year, while terms from 15 to 24 months when transacting online are listed at the bank's highest rate from 6.25 to 6.45%/year.
Other banks such as BaoVietBank, Vietbank, Kienlongbank, VietABank and BIDV also increased their deposit interest rates from 0.1 to 0.3%/year for both counter and online transactions. In contrast, BacABank, NCB and TPBank reduced their interest rates from 0.1 to 0.3%/year for terms from 1 to 36 months, applicable to both counter and online transactions.
ABBank and Techcombank have measures to adjust interest rates by simultaneously increasing and decreasing from 0.1 to 0.2% for terms from 1 to 12 months, applicable to both counter and online transactions.
According to MBS Securities Company, by the end of 2024, the average 12-month term interest rate of the commercial bank group reached 5.1%/year, more than 20 basis points higher than at the beginning of the year. Meanwhile, state-owned commercial banks maintained interest rates at around 4.7%/year. Analysts forecast that the 12-month term deposit interest rate of commercial banks will continue to be stable or increase slightly, fluctuating around 5-5.2% this year.
The latest statistics from the State Bank of Vietnam show that in January, deposit interest rates of domestic commercial banks were recorded at 0.1-0.2%/year for demand deposits and deposits with terms of less than 1 month; for terms from 6 to 12 months, the interest rate was from 4.4 to 5.3%/year; and for terms from 12 to 24 months, the average interest rate was from 6.9 to 7.2%/year.
For loans, lending interest rates for new loans and old outstanding loans range from 6.7 to 9% per year, while short-term lending interest rates for priority sectors reach 3.9% per year, lower than the SBV's prescribed rate of 4% per year.
Special interest rate highest 7-9%
The highest interest rate for a 12-month term can range from 7% to 9% per year, but to enjoy this rate customers must meet special conditions.
For example, PVcomBank leads with an interest rate of 9%/year for a 12-13 month term when depositing money at the counter, requiring a minimum balance of VND2,000 billion.
Similarly, HDBank listed 8.1%/year for 13-month term and 7.7%/year for 12-month term with a minimum balance of VND500 billion, while 18-month term only received 6%.
MSB applies an interest rate of 8%/year for a 13-month term and 7%/year for a 12-month term with the condition that the minimum deposit is 500 billion VND from newly opened or automatically renewed savings books from January 1, 2018.
At the same time, Dong A Bank offers a rate of 7.5%/year for terms of 13 months or more with a minimum amount of VND 200 billion.
Banks push interest rates past 6%
Many other banks are now listing interest rates above 6%/year for long term deposits without requiring a minimum deposit amount.
Specifically, Eximbank applies interest rates from 6.2% to 6.5%/year for terms from 15 to 34 months.
BVBank offers 6.05%/year for 12-month term, 6.25% for 15-month term, 6.35% for 18-month term and 6.45% for term from 24 to 36 months.
IVB listed the highest rate at 6.45%/year for terms from 5 to 15 years, with terms of 48, 36 and 12 months having interest rates of 6.25%, 6.15% and 6.05%/year respectively.
Other banks also offer competitive interest rates. KienLong Bank applies 6.1% for terms from 12 to 24 months, 6.3% for terms of 36 months and 6.4% for terms of 60 months.
GPBank listed 6.05%/year for 12-month term and 6.15%/year for terms from 13 to 36 months.
Cake by VPBank applies 6%/year for terms from 12 to 18 months and 6.3%/year for terms from 24 to 36 months, while OceanBank offers 6.1% for terms from 24 months.
In addition, VRB and Dong A Bank both apply 6% for 24-month term;
VietABank has a rate of 6% for 18 and 24 month terms and 6.1% for 36 month terms;
SaigonBank offers 6% for 13, 18 and 24 month terms, with 6.1% for 36 month terms;
HDBank also listed 6% for 15-month term and 6.1% for 18-month term;
BAOVIET Bank applies 6% for terms from 15 to 36 months;
ABBank offers 6% for 12-month terms and CB applies 6% for terms of 12 months or more.
The Prime Minister has just issued an official dispatch requesting the Governor of the State Bank of Vietnam to immediately inspect and examine banks that have just increased interest rates.
On February 24, Prime Minister Pham Minh Chinh signed Official Dispatch No. 19 to the Governor of the State Bank of Vietnam, requesting to strengthen the implementation of solutions to reduce interest rates. In recent times, the Government and the Prime Minister have directed the State Bank and credit institutions to implement measures to lower lending interest rates to ease difficulties for customers, support production and business, and promote economic growth. However, some commercial banks have adjusted their deposit interest rates upward, thereby increasing lending interest rates.
In order to ensure strong economic growth and achieve the GDP target of over 8% by 2025, the Prime Minister requested the State Bank of Vietnam to coordinate with relevant agencies to immediately conduct inspections and examinations of commercial banks that have increased deposit interest rates, as well as supervise the announcement and implementation of deposit and lending interest rates of credit institutions, ensuring compliance with legal regulations and Government instructions.
In addition, it is necessary to strengthen the effectiveness of inspection, control and close supervision of the activities of credit institutions, especially the announcement of mobilization interest rates, lending interest rates and credit granting activities. Violations, especially unfair interest rate competition, must be strictly handled according to the provisions of law.
Cases of non-compliance with the instructions of the Government, the Prime Minister and the State Bank of Vietnam must be strictly handled. In particular, the Governor of the State Bank of Vietnam will consider and decide to use management tools such as credit growth limits and license revocation according to regulations, and report the implementation results to the Prime Minister before February 28.
