Prosperity and Development Joint Stock Commercial Bank (PGBank) has just adjusted to increase interest rates for short-term deposits, from 1-3 months.

According to the interest rate table, the 1-2 month term with interest paid at the end of the term increased by 0.2%/year, respectively listed at 3.4% and 3.5%/year. The 3-month term interest rate increased by 0.1%/year, to 3.8%/year.

The bank kept the deposit interest rates unchanged for the remaining terms. This is the interest rate that was adjusted up exactly 2 months ago.

Interest rates for 6-9 month deposits are listed at 5%/year, 12-13 month deposits are 5.5% and 5.6%/year respectively.

Customers depositing money for 18 months will receive an interest rate of 5.8% per year. The highest deposit interest rate announced by this bank is 5.9% per year, applied to deposits for 24-36 months.

PGBank's transaction office is openly offering customers an interest rate of 6%/year, higher than the bank's listed interest rate. However, this interest rate is only for VIP customers with long-term deposits and must be recommended by the transaction office to a higher level.

PGBank is the only bank adjusting deposit interest rates this morning, and is also the 11th bank to increase deposit interest rates since the beginning of September, including: Dong A Bank, OceanBank, VietBank, GPBank, Agribank, Bac A Bank, NCB, OCB, BVBank,ACB , and PGBank.

On the contrary, ABBank is the first bank to reduce deposit interest rates this month by 0.1-0.4%/year for terms of 1-12 months.

The news of note to investors this morning is that the US Federal Reserve (FED) has decided to drastically reduce interest rates by 50 basis points, down to 4.75-5%/year. The FED also sent out a message that subsequent interest rate cuts will take place at a slower pace and there will not be a series of consecutive 50-point interest rate cuts.

On the morning of September 19, the State Bank adjusted the central exchange rate to 24,167 VND/USD, an increase of 16 VND compared to yesterday afternoon and an increase of 26 VND compared to September 17.

Meanwhile, the exchange rate at commercial banks decreased slightly compared to yesterday afternoon. At Vietcombank , the USD price (buying/selling) was 24,430 VND and 24,800 VND/USD, down 50 VND compared to both buying and selling.

The exchange rate listed at BIDV this morning is 24,460 VND (buy) and 24,800 VND/USD (sell), down 40 VND compared to yesterday's strong increase of 120 VND.

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON SEPTEMBER 19, 2024 (%/YEAR)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
AGRIBANK 2 2.5 3.3 3.3 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 3.65 3.95 5.15 5.25 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 3.8 4 5.2 5.5 5.8 6
EXIMBANK 3.8 4.3 5.2 4.5 5.2 5.1
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 3.4 3.5 4.7 4.8 5.1 5.6
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 3.5 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 3.8 4.2 5 5.1 5.6 5.6
PGBANK 3.4 3.8 5 5 5.5 5.8
PVCOMBANK 3.3 3.6 4.5 4.5 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
SEABANK 2.95 3.45 3.75 3.95 4.5 5.45
SHB 3.5 3.8 5 5.1 5.5 5.8
TECHCOMBANK 3.25 3.45 4.55 4.55 4.95 4.95
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