In early 2025, which bank has the highest interest rate for savings?

(NLDO) – Some banks increased long-term interest rates far beyond the 6%/year mark, approximately 7%/year on the first day of the new year.

On January 1, 2025, Eximbank adjusted its deposit interest rates with an upward trend, especially for long terms to attract deposits. Mr. Khanh Minh (District 1, Ho Chi Minh City) made an online savings deposit for a 4-month term with an interest rate of 4.7%/year, higher than the 3-month term (4.3%/year). With 500 million VND, he received nearly 2 million VND in interest each month.

Online deposit interest rates at Eximbank are 0.4 to 1.2 percentage points higher than over-the-counter deposits. According to the new interest rate schedule, the "Long-term deposit with peace of mind" program with no early withdrawal has an interest rate of 6.5%/year for a 15-month term, and the highest for a 24-36-month term, reaching 6.8%/year. This rate far exceeds the normal over-the-counter deposit interest rate (5.8%/year).

The end of the year is the time for people to summarize their finances and choose suitable investment channels for their idle money, in which savings are a popular choice thanks to their safety and attractive interest rates.

Long-term interest rates at banks

Digital bank Cake by VPBank said that the total amount of deposits in the unit has reached more than 9,000 billion VND. This is a remarkable number because Cake is a purely digital banking model, 100% of activities are carried out online. Currently, the interest rate for a 6-month term at Cake is 5.5% per year, for a 12-month term is 5.9% per year, the highest is 6.1% per year for a 24-month term.

According to records, since the beginning of December until now, a series of banks have been competing to increase deposit interest rates such as Techcombank, VPBank, ABBank, MB, Agribank , IVB, CBBank...

Currently, the highest interest rate for 1-month term deposits (if customers deposit from now until Lunar New Year 2025) is about 3.9% - 4%/year at BacABank, BVBank, Eximbank, Nam A Bank,OCB , Vietbank...

According to statistics from VNDIRECT Securities Company, as of early December 2024, the average 12-month deposit interest rate of commercial banks has increased to 4.84%/year, a slight increase compared to the previous month. However, this increase is still lower than the end of 2023. The average 12-month deposit interest rate is forecasted to be from 4.9% to 5% by the end of 2024.

Interest rates increased on the first day of the new year

Regarding the statistics on deposit interest rates in 2024, Ms. Tran Thi Ha My, Head of Macro Analysis Department, Analysis Center, Rong Viet Securities Company, said that compared to the end of 2023, the average deposit interest rates for 1-month, 6-month and 12-month terms increased by about 0.1 to 0.15 percentage points. In particular, the group of state-owned commercial banks still maintained low interest rates from the end of the first quarter of 2024 until the end of the year. The 12-month deposit interest rate of this group of banks decreased by about 0.25 percentage points compared to the beginning of 2023.

Meanwhile, the average interest rate of banks such as ABBank, Nam A Bank, PGBank, VietBank, Bac A Bank, BaoViet Bank, Kienlong Bank, SaiGon Bank, VietA Bank increased by about 0.3 percentage points compared to the beginning of the year. Banks such as LPBank, Eximbank, MSB, HDBank, TPBank, VIB, SeaBank, OCB increased by 0.1 percentage points...

"In particular, the banking groups CBBank, GPBank, OceanBank, SCB, PVCombank, DongABank, NCB, BVBank have seen an average increase in deposit interest rates of about 0.15 percentage points compared to the beginning of the year," said Ms. Ha My.

Source: https://nld.com.vn/lai-suat-hom-nay-1-1-dau-nam-2025-gui-tiet-kiem-ngan-hang-nao-lai-cao-nhat-196250101094249836.htm