However, the notable information is that the Vietnam Bank for Agriculture and Rural Development ( Agribank ) suddenly adjusted the mobilization interest rate from October 16, with an increase of 0.2%/year for terms from 1-5 months, and a decrease of 0.1%/year for terms from 6-9 months.

Thus, 4 banks increased interest rates in October. Besides Agribank, there are also LPBank, Bac A Bank and Eximbank.

According to the latest announcement of the State Bank of Vietnam (SBV) for the week from September 30 to October 4, the transaction turnover in the interbank market in VND during the period reached approximately VND 2,149,032 billion, an average of VND 429,806 billion/day, an increase of VND 24,430 billion/day compared to the previous week. The transaction turnover in USD converted to VND during the week reached approximately VND 431,959 billion, an average of VND 86,392 billion/day, an increase of VND 11,811 billion/day compared to the previous week.

By term, VND transactions mainly focused on overnight terms (accounting for 90.88% of total VND transaction turnover) and 1-week terms (accounting for 4.49% of total VND transaction turnover). For USD transactions, the terms with the largest turnover were overnight and 1-week terms with proportions of 89.74% and 6.92% of total transaction turnover, respectively.

Interest rates for overnight, 3-week, 1-month and 3-month terms all increased by 0.01%; 0.07%; 0.05% and 0.04% per year, respectively.

During the week, overnight interest rates were 4.17%, 1-week interest rates were 4.10%, 2-week interest rates were 4.16%, 1-month interest rates were 4.28%, 3-month interest rates were 4.54%, 6-month interest rates were 5.19%, and 9-month interest rates were 5.68% per year.

For interbank USD transactions, the interest rate for 1-week terms increased by 0.01% and 2-month terms increased by 0.04%. Accordingly, the interest rate for overnight USD transactions is 4.83%, 1-2 week terms is 4.87%, 1-month terms is 4.9%, 3-month terms is 4.97%, and 6-month terms is 4.75%.

The report on interbank VND interest rates on October 15 shows that the average interbank interest rate for overnight term has dropped sharply to 2.91%, 1-week term has dropped to 3.1%, 2-week term has also dropped sharply to 3.22%, 1-month term has dropped to 3.23%, 3-month term has dropped to 4.07%. However, the interbank interest rate for 6-month term has increased to 5.15%.

Regarding interbank transaction turnover, overnight transactions still accounted for over 90% of total transactions, reaching VND302,294 billion.

Interest rate LNH.jpg
Interbank interest rates on October 15, 2024. Source: SBV
HIGHEST DEPOSITS INTEREST RATES AT BANKS ON OCTOBER 17, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2.2 2.7 3.2 3.2 4.7 4.7
BIDV 2 2.3 3.3 3.3 4.7 4.7
VIETINBANK 2 2.3 3.3 3.3 4.7 4.7
VIETCOMBANK 1.6 1.9 2.9 2.9 4.6 4.6
ABBANK 3.2 3.7 5 5.2 5.6 5.7
ACB 3.1 3.5 4.2 4.3 4.9
BAC A BANK 3.8 4.1 5.25 5.35 5.7 5.85
BAOVIETBANK 3.3 4 5.2 5.4 5.8 6
BVBANK 3.8 4 5.2 5.5 5.8 6
CBBANK 3.8 4 5.55 5.5 5.7 5.85
DONG A BANK 3.9 4.1 5.55 5.7 5.8 6.1
EXIMBANK 3.9 4.3 5.2 4.5 5.2 5.8
GPBANK 3.2 3.72 5.05 5.4 5.75 5.85
HDBANK 3.85 3.95 5.1 4.7 5.5 6.1
KIENLONGBANK 3.7 3.7 5.2 5.3 5.6 5.7
LPBANK 3.9 4.1 5.2 5.2 5.6 5.9
MB 3.3 3.7 4.4 4.4 5.1 5
MSB 3.7 3.7 4.6 4.6 5.4 5.4
NAM A BANK 3.8 4.1 5 5.2 5.6 5.7
NCB 3.8 4.1 5.45 5.65 5.8 6.15
OCB 3.9 4.1 5.1 5.1 5.2 5.4
OCEANBANK 4.1 4.4 5.4 5.5 5.8 6.1
PGBANK 3.4 3.8 5 5 5.5 5.8
PVCOMBANK 3.3 3.6 4.5 4.7 5.1 5.8
SACOMBANK 3.3 3.6 4.9 4.9 5.4 5.6
SAIGONBANK 3.3 3.6 4.8 4.9 5.8 6
SCB 1.6 1.9 2.9 2.9 3.7 3.9
CBBANK 3.8 4 5.55 5.5 5.7 5.85
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.45 4.55 4.55 4.85 4.85
TPBANK 3.5 3.8 4.7 5.2 5.4
VIB 3.2 3.6 4.6 4.6 5.1
VIET A BANK 3.4 3.7 4.8 4.8 5.4 5.7
VIETBANK 3.8 4 5.2 5 5.6 5.9
VPBANK 3.6 3.8 5 5 5.5 5.5