Bank interest rates today 3/3/2025: Massive interest rate reduction

A series of banks massively reduced interest rates

On March 3, 2025, the Vietnamese banking market witnessed a downward trend in deposit interest rates at many banks, especially for long terms. This move reflects the efforts of banks to attract customers and increase competitiveness in the current economic context.

Eximbank has reduced its highest deposit interest rate from 6.8%/year to 6.1%/year for terms of 24-36 months. This is the third consecutive reduction by this bank in recent times, showing its strategy of adjusting interest rates to suit the market situation.

Viet A Bank also joined the trend of interest rate reduction. This bank has reduced interest rates for terms from 12-36 months, with a decrease of 0.1%/year. Specifically, the latest online mobilization interest rate for terms of 12-13 months is 5.7%/year; term of 15 months is 5.9%/year; interest rate for terms of 18-24 months is reduced to 5.9%/year, and term of 36 months is reduced to 6%/year.

Techcombank has reduced interest rates for 1-5 month deposits. Specifically, the 1-month savings interest rate decreased by 0.1%/year to 3.6%/year. The 3-month deposit interest rate also decreased by 0.2%/year to 3.8%/year. The 6-month term remained at 4.8%/year, and the 9-month term was 4.9%/year. The 12-month bank interest rate decreased by 0.1%/year to 5.2%/year.

Vikki Bank, after changing its name from DongA Bank, has adjusted its deposit interest rates. The interest rate for 1-5 month term deposits has been listed at 4.4%/year. The interest rate for 6-8 month term deposits has been listed at 5.6%/year. The interest rate for 9-11 month term deposits has been kept at 5.7%/year, while the 12 month term has increased by 0.1%/year to 5.9%/year. However, the interest rate for 13-36 month terms has decreased to 5.9%/year.

Strong increase in short and medium term

KienlongBank has adjusted its short- and medium-term deposit interest rates to the highest level. Specifically, the 3-month deposit interest rate increased sharply to 4.1%/year, up 0.8% compared to before. The 6-month and 12-month deposits also recorded a significant increase, respectively 0.4%, bringing KienlongBank's deposit interest rates to 5.4%/year and 5.7%/year. This is the highest interest rate among the surveyed banks.

Saigonbank has also sharply increased the 3-month term interest rate to 3.6%/year, up 0.6% compared to before. The remaining terms remain unchanged, showing that this bank is focusing on attracting short-term deposits.

VietBank has adjusted the interest rates for 3-month, 6-month and 12-month terms, increasing by 0.3%, 0.2% and 0.2% respectively. The new interest rates for these terms are 4.4%, 5.4% and 5.8% per year. These changes help VietBank maintain its competitiveness and meet customers' savings needs.

VPBank has adjusted interest rates for 3-month, 6-month and 12-month terms to 4%, 5% and 5.5% per year, each term increasing by 0.2%. MBV also increased interest rates by 0.2% for 3-month terms, bringing interest rates to 4.6% per year, while 6-month terms increased slightly to 5.5% per year.

Eximbank has adjusted interest rates for 3-month and 12-month terms, increasing by 0.1% and 0.3%, bringing the interest rates to 4.4% and 5.5% per year, respectively. These adjustments are considered to be in line with the strategy of maintaining competitiveness in the context of rising interest rates in the market.

In addition, banks such as Vikki Bank, Agribank, BVBank and NCB also simultaneously increased interest rates by 0.1%/year for a 3-month term. However, this increase is considered insignificant compared to other banks.

Note: Interest rates are subject to change over time. Customers should contact the bank directly for the latest information.

Quoc Duong