2 banks sharply increased interest rates at the end of August

Interest rates continue to increase. Graphics: Khuong Duy

Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ) has just adjusted its deposit interest rate up by 0.2% per year for 1-5 month term and 0.3% per year for 6-11 month term. This is the second time this August that the bank has increased its interest rate.

According to the online interest rate table applied to deposit accounts under 1 billion VND, the term of 1-2 months increases to 3.25%/year, 3-5 months increases to 3.45%/year, and the term of 6-11 months increases to 4.55%/year.

Currently, the highest interest rate at Techcombank is 5.05%/year, applied for 12-36 month terms with amounts from 3 billion VND or more.

Techcombank's online deposit interest rates.

Nam A Commercial Joint Stock Bank (Nam A Bank) also increased the interest rate for deposits with terms from 1 to 17 months with the highest rate of 0.5%/year. This is the first time in 3 months that this bank has changed the interest rate.

Accordingly, the 1-month term increased by 0.4%/year to 3.5%/year, the 2-month term increased sharply by 0.5%/year to 3.6%/year; the 3-month term increased by 0.3%/year to 4.1%/year, and the 4-5-month term increased by 0.2%/year to 4.2%/year.

Nam A Bank adjusted the interest rate for deposits of 6-month terms to 5%/year after many months of interest rates for these terms being below 5%/year.

Nam A Bank's online deposit interest rates.

Currently, Nam A Bank is listing the highest interest rate at 5.7% for terms of 14 to 36 months.

According to statistics from the beginning of August until now, 15 banks have increased deposit interest rates, including: Agribank, Eximbank, HDBank, Sacombank, Saigonbank, TPBank, CB, VIB, DongA Bank, VPBank, Techcombank, VietBank,SHB , PVCombank, and Nam A Bank.

Source: https://laodong.vn/kinh-doanh/2-ngan-hang-tang-manh-lai-suat-cuoi-thang-8-1385695.ldo