OceanBank has just officially adjusted its deposit interest rate schedule starting today, with an increase of 0.2-0.4%/year for deposit terms from 1 to 15 months.

According to the online interest rate table, the interest rate for 1-2 month term deposits increased by 0.3%/year to 4.1%/year, and the 3-5 month term increased by 0.2%/year to 4.4%/year.

OceanBank is paying the highest interest rate in the market for deposits under 6 months. The interest rate for this term is only 3.8-3.9%/year, listed byOCB , NCB, BaoVietBank, BVBank, DongA Bank, CB, Eximbank, Nam A Bank.

OceanBank is also leading in 3-5 month term interest rates at 4.4%/year. The above mentioned group of banks is maintaining the top with interest rates from 4-4.3%/year for 3-5 month term deposits.

According to Decision 1124/QD-NHNN of the State Bank of Vietnam, the maximum interest rate applied to deposits with terms from 1 month to less than 6 months is 4.75%/year. Thus, OceanBank is maintaining the interest rate closest to the ceiling rate as prescribed.

In addition, this bank has strongly increased the interest rate for 6-11 month terms, the increase is up to 0.4%/year. Specifically, the interest rate for 6-8 month terms increased to 5.4%/year, and for 9-11 month terms increased to 5.5%/year.

OceanBank increased the 12-15 month term interest rate by 0.2%/year to 5.8%/year.

Meanwhile, the interest rate for online deposits with terms of 18-36 months remains unchanged at 6.1%/year. This is also the second highest interest rate on the market today.

OceanBank is also the first bank to increase interest rates for the second time since the beginning of September. Previously, on September 4, this bank increased deposit interest rates from 0.1-0.4%/year with deposit terms from 1-15 months.

Up to now, 12 banks have increased deposit interest rates since the beginning of September, including: Dong A Bank, OceanBank, VietBank, GPBank, Agribank, Bac A Bank, NCB, OCB, BVBank,ACB , PGBank, and Nam A Bank.

Of which, OceanBank is the first bank to increase interest rates for the second time this month.

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.

HIGHEST DEPOSITS INTEREST RATES AT BANKS ON SEPTEMBER 25, 2024
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 3.8 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
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

According to the latest report of the State Bank of Vietnam on September 23, overnight interbank interest rates increased sharply by 0.63%/year compared to the end of last week to 3.91%/year.

Interest rates for 1-week and 2-week terms increased by 0.56% and 0.33% to 4.03% and 3.91% per year, respectively.

Previously, interbank interest rates fell sharply last week in the context of the State Bank continuously implementing easing measures such as buying term deposits on the open market and lowering OMO interest rates.

According to the State Bank of Vietnam, credit growth as of September 17 reached 7.38% compared to the beginning of the year, more positive than the same period last year when credit increased by 5.73%. Of which, the private joint stock commercial bank sector increased by 8.6%, accounting for 45% of the market share, the highest increase in the whole system. Credit for the trade and service sector increased positively, accounting for about 50% of outstanding loans in the trade and service sector of the whole system.

Also last week, the State Bank of Vietnam (SBV) reduced the interest rate on OMO loans from 4.25% to 4%, the lowest level since April 2024. This is also the second time this year that the SBV has lowered the OMO interest rate (the first time was on August 5).

The State Bank's reduction of OMO interest rates is a move to support liquidity, creating conditions for interbank interest rates to decrease, thereby reducing capital costs for banks.

The State Bank of Vietnam (SBV) also withdrew a net VND7,322 billion from the open market. Specifically, through the term purchase transaction, the SBV injected VND1,511.6 billion (7-day term, 4% interest rate), while the VND8,833 billion issued previously had matured.