3 Big 4 banks simultaneously lower deposit interest rates

After the first Big 4, Vietcombank, made a move to reduce deposit interest rates, today (January 17), the remaining 3 banks, Agribank , VietinBank and BIDV, simultaneously adjusted to reduce deposit interest rates for terms of 1-11 months.

Accordingly, in VietinBank 's online deposit interest rate table, the bank simultaneously adjusted the deposit interest rate down by 0.3 percentage points to 1.9%/year for terms of 1-2 months and down to 2.2%/year for terms of 3-5 months.

Similarly, VietinBank also adjusted the 6-9 month term deposit interest rate down by 0.3%, listed at 3.2%/year.

On the same day, at BIDV 's online deposit interest rate table, the bank simultaneously reduced 0.3 percentage points for deposit interest rates for terms of 1-11 months.

Specifically, the bank reduced interest rates to 2%/year for 1-2 month terms; interest rates for 3-5 month terms to only 2.3%/year and for 6-11 month terms to 3.3%/year.

BIDV keeps the deposit interest rate for the remaining terms unchanged at 5%/year for 12-18 month terms and 5.3%/year for 24-36 month terms.

Agribank also reduced the deposit interest rate by 0.2 percentage points for the 1-2 month and 6-11 month terms to only 1.8%/year and 3.4%/year, respectively. Notably, the bank sharply reduced the 3-5 month term interest rate by 0.4 percentage points to 2.1%/year.

Thus, the three state-owned banks have the same interest rate for 12-36 month terms of 5-5.3%/year. In addition, Agribank and VietinBank have reduced the interest rate for 1-2 month terms to below 2%/year.

In addition to the Big 4 group, Vietnam International Commercial Joint Stock Bank (VIB) today continued to reduce its deposit interest rates for the second time this month. Accordingly, VIB's online deposit interest rates for terms of 6-11 months decreased by 0.1 percentage points to 4.5%/year.

However, in the opposite direction, this bank has made a move against the trend to increase deposit interest rates for 15 and 18 month terms by 0.1 percentage points to 5.2%/year.

Saigon - Hanoi Commercial Joint Stock Bank (SHB) today also adjusted down deposit interest rates for terms from 1-12 months by 0.1-0.2 percentage points.

In the online interest rate table, this bank reduced 0.1 percentage point for 1-month term interest rate to 3.4%/year; reduced 0.2% for 2-month term interest rate to 3.5%/year.

SHB reduced 0.1 percentage point for interest rates at 3-month, 4-month and 5-month terms to 3.7%, 3.8% and 3.9%/year, respectively.

Similarly, the bank also reduced 0.1 percentage point for deposit interest rates for terms of 6-8 months to 4.9%/year and for terms of 10 and 11 months to 5.1%/year.

The above reduction is also applied to 12- and 13-month deposit interest rates, down to 5.3% and 5.4% per year, respectively.

The bank reduced the 9-month term interest rate by 0.2 percentage points to 5%/year. At the same time, it added a 15-month term interest rate of 5.5%/year .

Source