Bank interest rates today April 8, 2025: Foreign banks sharply reduce interest rates

Highest special interest rate 7.5-9.65%

Currently, some banks are offering exceptionally high savings interest rates, ranging from 7.5% to 9.65% per year. However, to enjoy these interest rates, customers need to meet many strict conditions regarding deposit amount and term.

ABBank is leading the market with the highest interest rate of 9.65%/year, applied to customers who deposit new or renew savings of VND 1,500 billion or more, with a term of 13 months. At PVcomBank, the interest rate of 9%/year is applied for a term of 12-13 months when depositing at the counter, with the condition that customers must maintain a minimum balance of VND 2,000 billion.

HDBank also offers high interest rates for large amounts of money, specifically 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, requiring a balance of VND500 billion or more. Vikki Bank applies an interest rate of 7.5%/year for a term of 13 months or more, with deposits of VND999 billion or more.

High interest rate over 6%

Some other banks such as Bac A Bank and IVB also offer high interest rates for long terms. Bac A Bank applies an interest rate of 6%/year for deposits from 1 billion VND, with terms from 18 to 36 months. IVB applies an interest rate of 6.15%/year for a 36-month term, applied to deposits from 1,500 billion VND. ACB offers a rate of 6%/year for a 13-month term if the customer has a balance of 200 billion VND or more.

LPBank also has preferential interest rates for deposits from 300 billion VND. Specifically, if you receive interest at the end of the term, it is 6.5%/year, if you receive interest monthly, it is 6.3%/year and if you receive interest at the beginning of the term, it is 6.07%/year.

In addition, some banks also list interest rates above 6%/year for long terms without requiring too large a deposit amount. Cake by VPBank applies an interest rate of 6%/year for 12-18 month terms and 6.3%/year for 24-36 month terms. Vikki Bank maintains 6% for 24 month terms, while VietABank applies an interest rate of 6% for 18 and 24 month terms, and 6.1% for 36 month terms.

HDBank has an interest rate of 6% for an 18-month term. GPBank offers 6.05%/year for a 12-month term and 6.15%/year for terms from 13 to 36 months. These interest rates, although not requiring a large balance, are still a worthy choice for long-term depositors.

Foreign banks sharply reduce interest rates

On April 8, 2025, the banking market recorded a sharp downward trend in deposit interest rates at foreign banks. In general, the interest rates of foreign banks are still significantly lower than those of domestic commercial banks.

Standard Chartered is one of the banks that has adjusted its interest rates the most. Specifically, the interest rate for online deposits for a 1-month term decreased by 0.47%, down to 2.6%/year. The 2-month term decreased to 2.8%/year, the 3-month term is 3.15%/year after a 0.13% decrease. Notably, the 6-month term recorded the sharpest decrease of up to 0.52%, bringing the interest rate down to only 3.6%/year.

For longer terms, the adjustment is more moderate. The 9-month term interest rate is reduced to 4.2%/year. From 12 to 36 months, Standard Chartered only slightly reduced the interest rate by 0.04%, bringing the interest rate to 4.55%/year - also the highest current mobilization interest rate of this bank when depositing online.

Previously, on March 17, this bank adjusted interest rates in opposite directions. At that time, they reduced short-term interest rates from 1 to 9 months, but slightly increased interest rates for 12 months and long-term interest rates from 18 to 36 months.

Not only Standard Chartered, many other foreign and joint venture banks in Vietnam are also maintaining quite low deposit interest rates compared to domestic banks.

HSBC currently has the highest interest rate of 3.75%/year for long terms, while the 1-month term is only 1%/year. UOB Vietnam lists interest rates in the range of 3-4%/year for terms from 1 to 9 months. Hong Leong Bank Vietnam also maintains interest rates from 3.25%, the highest is 4.65%/year for short terms under 9 months.

The trend of foreign banks lowering interest rates shows caution in the context of volatile global financial markets and widespread pressure to lower interest rates.