Which bank still has 8.6%/year?

According to the online interest rate table just announced today, June 6, VietA Bank reduced 0.2 percentage points for deposits with terms of 6 months or more. Meanwhile, for terms from 1 month to less than 6 months, the interest rate remains at the ceiling of 5%/year.

Specifically, online deposit interest rates for 6-11 month terms are reduced to 7.8%/year. 12-18 month terms are reduced to 8%/year; 24-36 month terms are reduced to 7.8%/year.

Notably, this is the fourth consecutive interest rate reduction by VietA Bank in the past month.

TPBank also reduced interest rates today, with a 0.2 percentage point reduction for 6-12 month terms.

Accordingly, the latest deposit interest rate is 7.4%/year for 6-month term and 7.5%/year for 12-month term. 18-month term remains at 7.5%/year, while 24-month term is reduced to 7.4%/year.

The remaining banks still keep the deposit interest rates unchanged.

Thus, the market has recorded 6 banks reducing deposit interest rates since the beginning of June until now, including: VietA Bank, TPBank,SHB , HDBank, KienLongBank and Saigonbank.

According to VietNamNet statistics from the beginning of May until now, banks that have reduced deposit interest rates include: VietA Bank, VIB, OCB, Eximbank, MSB, VPBank, TPBank, Vietcombank, Agribank, VietinBank, BIDV, KienLongBank, NamA Bank, NCB, Saigonbank, PVCombank, HDBank, OceanBank, Sacombank, Techcombank, BacA Bank, SCB, DongA Bank, VietBank, MB, SeABank,ACB , LPBank and BaoViet Bank.

Banks that reduced interest rates twice during this period are Eximbank, VPBank, BIDV, VietinBank, Vietcombank, Agribank, TPBank, BacA Bank, OCB, MSB, and Techcombank.

OCB, KienLongBank, Saigonbank, NamA Bank and Sacombank have reduced deposit interest rates three times within just one month.

VietBank and VietA Bank alone have reduced deposit interest rates up to 4 times since the beginning of May.

HIGHEST INTEREST RATES OF BANKS ON JUNE 6 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
GPBANK	5	5	8.3	8.4	8.5	8.6
ABBANK	5	5	8.2	8.2	8.3	8.5
OCB	4.8	4.95	8	8.1	8.1	7.9
NCB	5	5	7.9	7.9	8.1	8
HDBANK	5	5	7.9	6.9	7.9	7.1
NAMA BANK	5	5	7.9	7.8	7.8	7.6
CBBANK	4.8	4.9	7.85	7.95	8.15	8.25
VIETA BANK	5	5	7.8	7.8	8	8
SCB	5	5	7.8	7.8	7.85	7.65
VIETBANK	5	5	7.8	7.7	7.8	7.8
BAOVIETBANK	5	5	7.7	7.8	8.1	7.8
BACA BANK	5	5	7.7	7.8	7.9	8.1
VPBANK	4.9	4.9	7.7	7.9	7.7	6.9
VIB	5	5	7.7	7.8		7.9
OCEANBANK	5	5	7.6	7.7	7.8	8.1
PVCOMBANK	5	5	7.5	7.9	8.2	8.3
EXIMBANK	5	5	7.5	7.5	7.6	7.6
BVBANK	4.5	4.8	7.4	7.7	8	8.3
TPBANK	4.8	5	7.4		7.5	7.5
PGBANK	5	5	7.3	7.3	7.5	7.5
MSB	5	5	7.3	7.3	7.4	7.4
SHB	5	5	7.2	7.2	7.7	7.7
SAIGONBANK	5	5	7.2	7.3	7.6	7.4
LPBANK	4.8	4.8	7.2	7.2	7.3	7.9
SEABANK	5	5	7.1	7.19	7.4	7.6
ACB	5	5	7	7.05	7.1
TECHCOMBANK	4.7	4.7	6.9	6.9	6.9	6.9
SACOMBANK	5	5	6.8	7.1	7.4	7.7
KIENLONGBANK	5	5	6.7	6.9	7.1	7.3
AGRIBANK	4.7	4.9	6.6	6.6	6.8	6.6
MB	4.8	4.8	6.5	6.6	7.2	7.3
DONGA BANK	4.5	4.5	6.35	6.45	6.7	6.9
BIDV	4.6	5	6.2	6.2	6.9	6.8
VIETINBANK	4.5	4.9	6	6	6.8	6.8
VIETCOMBANK	4.5	5	6	6	6.8

On the afternoon of June 5, in a group discussion on the draft Law on Credit Institutions (amended), National Assembly Chairman Vuong Dinh Hue expressed his view that the banking industry has made every effort to support the economy. Recently, the State Bank decided to reduce the operating interest rate 3 times, and the Deputy Governor of the Bank also said "it can be reduced further".

However, the National Assembly Chairman said that inflation in 2022 only increased by 3.15% compared to 2021 but the mobilization interest rate of 9% is too unreasonable.

Source