Savings interest rates have risen sharply after one year: The 7% mark is now common at many banks.
Compared to the same period in 2025, deposit interest rates at Vietnamese banks have increased dramatically, especially at the Big4 group. Currently, interest rates above 7% have become commonplace.
As of April 5, 2026, the financial market has witnessed significant fluctuations in deposit interest rates, trending upwards. Compared to a year ago, interest rates have established a new benchmark, with rates above 6% per annum appearing even for 6-month terms, and 7% per annum no longer uncommon in the banking system.
The Big 4 group leads the interest rate hike trend.
Market data reveals a surprising development: the group of state-owned commercial banks (Big4), including Vietcombank, BIDV, VietinBank, and Agribank, are leading in interest rate increases. Specifically, for the 3-month term, Vietcombank recorded an increase of 2.6%/year to 4.5%/year. BIDV and VietinBank both pushed interest rates to the ceiling of 4.75%/year, corresponding to an increase of 2.45%/year after one year.
Notably, for the 6-month term, Agribank and BIDV significantly increased their interest rates by 3.3% per year, listing them at 7% per year and 6.8% per year respectively. This reflects the immense pressure on the largest banks in the system to raise capital to meet the rapidly increasing demand for credit.
| Bank | 3-month term (%) | +/- Compared to 2025 | 12-month term (%) | +/- Compared to 2025 |
|---|---|---|---|---|
| Agribank | 4.75 | +1.75 | 7.0 | +2.3 |
| MB | 4.75 | +2.45 | 6.8 | +2.1 |
| LPBank | 4.75 | +0.85 | 7.4 | +2.0 |
| PGBank | 4.75 | +0.95 | 7.2 | +1.8 |
| Vietcombank | 4.5 | +2.6 | 5.9 | +1.3 |
| VietinBank | 4.75 | +2.45 | 5.9 | +1.2 |
Universalize interest rate caps for short-term deposits.
Unlike the situation at the beginning of 2025 when no banks listed interest rate ceilings for short-term deposits, most institutions now apply a rate of 4.75%/year for terms from 1 to 5 months. For longer terms, the 7%/year mark is now officially listed at more than 10 banks, including LPBank (7.4%), PGBank (7.2%), Agribank (7%), and OCB (7%).
However, the market still sees a discrepancy between listed interest rates and actual interest rates. For example, at GPBank, although the highest listed rate is 5.85%/year, some branches still implement programs to attract deposits with interest rates exceeding 8%/year to draw in funds.
Analyzing causes and forecasting the market.
According to experts, the increase in deposit interest rates stems from a sharp rise in credit demand while deposit growth is not keeping pace. This forces banks to raise interest rates to balance liquidity.
Mr. Le Ngoc Lam, General Director of BIDV, stated that in 2026, credit flows will be prioritized for key sectors such as agriculture, exports, manufacturing, and digital transformation. These are the main pillars driving economic growth in the coming period.
From a management perspective, Mr. Pham Hong Hai, General Director of OCB, commented: "The increase in lending interest rates is partly influenced by pressure to raise capital. However, the current interest rate level is still seasonal. We expect system liquidity to improve when funds from public investment disbursement packages return to the economy. Pressure on interest rates and exchange rates is expected to gradually decrease in the last six months of 2026."
