Bank interest rates on March 6: Continue to reduce interest rates
Bank interest rates on March 6: continue to witness a downward trend. Some banks have reduced interest rates for two consecutive days.
Interest rate reduction trend at banks
Since the beginning of March, many banks have reduced their deposit interest rates. Specifically, 12 banks have reduced their counter interest rates by 0.1 - 0.4%, while 7 banks have reduced their online deposit interest rates by 0.1 - 0.7% for all terms.
Although the increase in exchange rate may lead to the risk of inflation, instead of increasing the mobilization interest rate to attract deposits, many banks have chosen to adjust it down. This has caused the financial market to have remarkable fluctuations.
Some banks have reduced interest rates in the past two consecutive days. Typically, BaoViet Bank, after reducing interest rates for 1-13 month terms yesterday, this morning (March 6), continued to reduce by 0.3% for deposits from 1-15 months and 0.2% for 15 month terms.
VPBank also adjusted down 0.3% on all deposit terms. However, this bank has a preferential policy for customers depositing large amounts of money. Specifically, deposits from 10 billion to under 50 billion VND will be added 0.1 - 0.2%, giving customers an advantage when depositing large amounts of money.
In addition, VPBank also changed the way interest rates are calculated, applying a common rate to accounts under 10 billion VND, instead of dividing them into smaller amounts as before. This helps customers to easily monitor and choose a more suitable term.
Some banks still keep high interest rates with special conditions
While many banks reduce interest rates, some still maintain high interest rates of 7 - 9%/year but with certain conditions.
PVcomBank currently has the highest interest rate, up to 9%/year for a 12-13 month term, but only for customers depositing at least 2,000 billion VND.
HDBank applies an interest rate of 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, requiring a minimum balance of VND500 billion.
MSB offers interest rates of 8%/year for 13-month terms and 7%/year for 12-month terms, for customers depositing at least VND500 billion.
Vikki Bank (formerly DongA Bank) has an interest rate of 7.5%/year for terms of 13 months or more, but customers must deposit at least VND200 billion.
While these interest rates are quite attractive, they are only available to customers with large balances, which is not common with regular savings accounts.
Highest bank interest rates today
Below are the highest interest rates for each term as of the morning of March 6, 2025:
1-month term: CBBank leads with 4.05% (at the counter), while Kien Long Bank and Nam A Bank have 4.30% (online).
3-month term: Indovina has the highest interest rate at the counter with 4.30%, while Nam A Bank leads online with 4.50%.
6-month term: CBBank has a rate of 5.65% (at the counter) and 5.85% (online).
9-month term: Dong A Bank and CBBank have the highest rate of 5.70% (at the counter), while CBBank and Kien Long reach 5.80% (online).
12-month term: Timo by BVBank has a rate of 6.00%, while GPBank leads online with 6.05%.
18-month term: Timo by BVBank has the highest rate of 6.30% (at the counter), while Eximbank has the highest online interest rate of 6.70%.
24-month term: BVBank and Timo by BVBank have 6.30% (at the counter), while Eximbank has the highest online interest rate of 6.80%.
Forecast of interest rate trends in the coming time
According to financial experts, deposit interest rates may continue to decrease in the coming time due to the slowing demand for loans from banks. When banks do not need to mobilize too many deposits, they will adjust interest rates down to balance capital flows.
However, several factors may influence this trend, such as inflationary pressures or fluctuations in the USD/VND exchange rate. If inflation increases rapidly, banks may have to adjust interest rates higher to attract depositors and keep capital in the system.
In the current context, customers who deposit savings should consider choosing a bank with stable interest rates that suit their personal financial needs. If they have a large amount of idle money, long-term deposits can help ensure better profits in case interest rates continue to fall.
