Bank interest rates today February 28, 2025: A series of banks make opposite adjustments

A series of banks adjusted to increase interest rates

In February, several banks increased interest rates, including Techcombank with terms from 6 to 36 months, Viet A Bank increased interest rates with terms from 12 to 36 months, and BaoViet Bank increased interest rates with terms from 1 month.

Besides, some banks adjust interest rates both up and down.

Eximbank increased interest rates for 1-12 month terms but decreased them for 15-36 month terms.

Vikki Bank increased interest rates for 1-8 month and 12 month terms, but decreased rates for 13-36 month terms.

VietBank also made a similar move by increasing interest rates for 1-5 month and 7-9 month terms, but decreasing them for 1-5 month terms.

A series of banks adjusted to reduce interest rates

In February, many other banks reduced interest rates across the board. TPBank reduced interest rates for terms of 1, 2, 3 and 12 months. Bac A Bank, MSB, KienlongBank all reduced interest rates for terms from 1-36 months.

BVBank applies interest rate reduction for terms of 6 months or more.

Meanwhile, Vietcombank reduced interest rates for 36-month terms, while Agribank adjusted interest rates down for terms from 1-11 months.

This morning, Bac A Bank, Saigonbank and VIB adjusted their deposit interest rates down, following the downward trend of banks such as Eximbank, BVBank, KienlongBank, VietBank and MSB.

This is the second time this month that Bac A Bank has lowered its interest rates. According to the new interest rate schedule for deposits under VND1 billion, terms from 1-11 months will decrease by 0.1%/year, while terms from 12-36 months will decrease by 0.2%/year.

Specifically, the interest rate for 1-2 month terms decreased to 3.5%/year, 4 month terms decreased to 3.9%/year and 5 month terms decreased to 4%/year.

The interest rate for 6-8 month term savings is currently 4.95%/year, while the 9-11 month term has decreased to 5.05%/year. The 12 month term, after being adjusted down by 0.2%/year, is now at 5.4%/year. The interest rate for 13 and 15 month terms has also decreased to 5.5%/year.

The highest interest rate that Bac A Bank applies to balances under 1 billion VND is currently 5.8%/year for a term of 18-36 months. With this adjustment, the bank officially no longer has an interest rate of 6%/year from today.

Saigonbank officially leaves the 6%/year interest rate mark

From today, interest rates at Saigonbank have decreased, officially no longer at 6%/year.

On the online mobilization channel, the bank adjusted down 0.2%/year for terms from 12-36 months. Specifically, the interest rate for 12-month terms decreased to 5.6%/year. The 13-24-month terms, previously at 6%/year, now decreased to 5.8%/year. The highest interest rate ever listed was 6.1%/year for a 36-month term, also decreased to 5.9%/year.

In addition to Saigonbank, VIB Bank also adjusted its deposit interest rates. This is the first time in the past 3 months that this bank has reduced interest rates.

According to the latest online deposit interest rate schedule, VIB has reduced 0.1%/year for all terms from 1-36 months. Currently, the interest rate for 1-month term is 3.7%/year, 2-5 month term is 3.8%/year, 6-11 month term is 4.8%/year. For 15-18 month term, the interest rate is currently at 5.2%/year, while 24-36 month term is 5.3%/year.

Banks with interest rates exceeding 6%

Currently, many banks still list interest rates above 6%/year for long-term deposits without requiring a minimum deposit amount.

Eximbank applies an interest rate of 6% for 18-month terms and 6.1% for 24-36-month terms. BVBank offers 6% for 18-month terms and 6.05% for 24-month terms.

IVB currently has the highest interest rate, up to 6.45%/year for a term of 5-15 years. In addition, this bank applies 6.25%/year for a term of 48 months, 6.15%/year for a term of 36 months and 6.05%/year for a term of 12 months.

GPBank offers an interest rate of 6.05%/year for a 12-month term and 6.15%/year for a 13-36-month term. Cake by VPBank applies an interest rate of 6%/year for a 12-18-month term and 6.3%/year for a 24-36-month term. OceanBank also lists an interest rate of 6.1% for a 24-month term.

Some other banks are applying 6%/year for long terms. VRB and Dong A Bank apply this rate for 24-month terms. VietABank and SaigonBank list 6% for 18- and 24-month terms, but for 36-month terms, the interest rate is raised to 6.1%/year. HDBank applies 6%/year for 15-month terms and 6.1%/year for 18-month terms.

BAOVIET Bank is maintaining the rate of 6%/year for terms of 15, 18, 24 and 36 months. ABBank applies this rate for terms of 12 months, while CB applies the interest rate of 6% for all terms of 12 months or more.

Maintaining interest rates above 6%/year at some banks shows competition in capital mobilization, especially at long terms.

Special interest rate highest 7-9%

Currently, some banks apply high interest rates of 7-9%/year for a 12-month term. However, to enjoy this interest rate, customers must meet special conditions.

PVcomBank is leading with an interest rate of 9%/year for a 12-13 month term when depositing money at the counter. The condition is that customers must maintain a minimum balance of VND2,000 billion.

HDBank applies an interest rate of 8.1%/year for a 13-month term and 7.7%/year for a 12-month term, but requires a minimum balance of VND500 billion. In addition, the 18-month term at this bank has an interest rate of 6%.

MSB is listing an interest rate of 7%/year for 12 and 13 month terms. To enjoy this rate, customers need to have a minimum deposit of VND500 billion from newly opened or automatically renewed savings accounts from January 1, 2018.

Dong A Bank applies an interest rate of 7.5%/year for terms of 13 months or more, with a minimum deposit of 200 billion VND.

In general, this high interest rate is only for customers with large deposits and meeting the special requirements of each bank.

Quoc Duong