Bank deposit interest rates continue to be adjusted downward.

On November 20, the bank's deposit interest rates continued to record downward adjustments. Specifically,VIB International Commercial Joint Stock Bank reduced the 3-month term interest rate by 0.3 percentage points to 4%/year and reduced the 4-month term interest rate by 0.1 percentage points to 4.2%/year.

For the remaining terms, VIB keeps the interest rate unchanged. Accordingly, the interest rate for 1-month term is 3.8%/year, 2-month term is 3.9%/year, 5-month term is 4.3%/year;

6-8 month term is 5.1%/year, 9-11 month term is 5.2%/year, 15-18 month term is 5.8%/year and 24-36 month term is 5.8%/year.

This is the third time this month that VIB has adjusted its deposit interest rates. Most recently, on November 17, the bank reversed the trend and increased deposit interest rates for terms of 2-5 months.

Specifically, the online mobilization interest rate for 2-month term increased to 3.9%/year. For 3-5 month term, the interest rate increased by 0.3 percentage points to 4.3%/year.

During the day, Oceanbank also recorded a decrease in deposit interest rates. This bank reduced the deposit interest rate for 1-2 month term by 0.3 percentage points to 4.3%/year. The 3-5 month term decreased by 0.1 percentage points to 4.5%/year.

For the 6-8 month term, the bank has also adjusted down 0.3 percentage points to 5.5%/year. The 9-11 month term has decreased to 5.6%/year. The 12-36 month terms have been adjusted down 0.2 percentage points to 5.8%/year.

Thus, since the beginning of November until now, a total of 25 banks have recorded a decrease in deposit interest rates.

In particular, for the 6-8 month term deposit interest rate, HDBank holds the top position with 5.7%/year. NCB holds the highest deposit interest rate for the 9-11 month term at 5.65%/year. HDBank and BaoVietBank are tied for first place in the 12 month term deposit interest rate at 5.9%/year.

While a series of banks simultaneously lowered interest rates, there are still banks going against the trend by increasing interest rates.

Specifically, Orient Commercial Joint Stock Bank (OCB ) has increased the interest rate on 18-21 month deposits from 5.9% to 6.2% per year; the interest rate on 24-month deposits from 6% to 6.3% per year; and the interest rate on 36-month deposits from 6.1% to 6.4% per year.

At the end of October, Vietnam Maritime Commercial Joint Stock Bank (MSB) also sharply increased deposit interest rates for terms of 15-36 months from 5.5%/year to 6.2%/year .

Thu Huong

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