Banks reduce deposit interest rates, some terms decrease sharply

This time the banks adjust bothinterest rateonline and at the counter. However, according to VietNamNet statistics, banks have mostly only adjusted deposit interest rates for terms of 6 months or more, while keeping the interest rate for terms of 1-5 months at a common level of 6%/year.

Only ACB Bank reduced the interest rate for 1-3 month terms from 6% to 5.7% - 5.9% per year respectively. ACB also sharply reduced the interest rate for 6 month terms from 8.4% to only 6.9%, and for 12 month terms from 8.6% to only 7% per year.

PvcomBank, VietA Bank, OCB and PGBank arebankThere was a general decrease of about 0.5 percentage points at terms over 5 months.

With a more modest decrease, KienLongBank reduced the interest rate for 12-month terms from 9.5%/year to 9.2%/year. The 6-month terms decreased from 9.3%/year to 9%/year; the 9-month terms decreased from 9.4% to 9%/year. Meanwhile, the interest rate for 18-month terms or more at KienLongBank decreased sharply from 9.3% to only 8.5-8.9%/year.

Deposit interest rates have begun to decrease across the board. Photo: Hoang Ha

At HDBank, the 6-9 month terms have been reduced from 7.5% to 7.3%/year.

Online deposit interest rates at VietCapital Bank have slightly decreased for 9-month terms from 8.9% to 8.8%/year, while terms of 12 months or more remain at 9%/year.

Although the National Commercial Joint Stock Bank (NCB) still listed the old interest rate schedule at the beginning of March 3, it changed it in the early afternoon. Accordingly, the interest rate mobilized at the counter with terms of 6-9 months was sharply reduced by NCB from 9.3%/year to 8.6%/year. The interest rate for terms of 12 months or more was reduced from 9.45% to 9.25%/year.

BacA Bank also sharply reduced the interest rate at the counter from 9.3% to 8.6% for terms from 6-11 months. The 12-month term also decreased to 8.7%, while the highest interest rate belongs to the 18-month term (9%/year).

Sacombank has sharply reduced interest rates for deposits with terms of 6 months or more. Accordingly, the interest rate for a 6-month term has decreased from 8% to 7.5%/year, for a 9-month term has decreased from 8.2% to 7.6%/year, for a 12-month term has decreased from 8.4% to 7.90%, while for a 18-month term, the interest rate has also decreased from 8.55% to 8.2%/year.

Notably, the interest rate table at the counter of Dong A Bank unexpectedly increased slightly for terms of 6 months or more. Accordingly, the term of 6 - 8 months increased from 8.9% to 9.1%/year, the term of 9 months increased from 9.02% to 9.15%/year, the term of 12 months or more also increased from 9.07% to 9.20%/year./.