Another bank goes against the trend to increase deposit interest rates

Vietnam Prosperity Joint Stock Commercial Bank ( VPBank ) has recently made a move to increase deposit interest rates for all terms.

Accordingly, in VPBank's online deposit interest rate table, the bank adjusted the 1-month deposit interest rate up by 0.1 percentage point to 2.4%/year, applicable to deposit accounts under 10 billion VND.

Banks simultaneously increased 0.2 percentage points for deposit interest rates for terms of 2-36 months. Specifically, VPBank offered an interest rate of 2.7%/year for terms of 2-5 months, and 4.2%/year for terms of 6-11 months. The bank's interest rate for terms of 12-18 months increased to 4.5%/year and for terms of 24-36 months to 4.9%/year.

Interest rates will be increased by 0.1 and 0.2 percentage points respectively for deposit accounts from 10 billion VND to under 50 billion VND, and deposit accounts from 50 billion VND or more.

In addition, VPBank applies a priority customer policy with a minimum balance of 100 million VND and a minimum term deposit of 1 month, which will receive an additional 0.1%/year compared to the current listed interest rate.

Previously, Saigon - Hanoi Commercial Joint Stock Bank (SHB ) also made a move to increase deposit interest rates at some terms.

Accordingly, in the latest online deposit interest rate table of this bank, the interest rates for 1- and 2-month deposits were adjusted to increase by 0.2 and 0.1 percentage points, respectively, to 2.8%/year.

SHB added 0.1 percentage point to the 12-month deposit interest rate to 4.9%/year. Similarly, the bank also increased the 18-month interest rate by 0.1 percentage point to 5.2%/year. For the 13-15-month term, the interest rate increased by 0.2 percentage point to 5%/year. For the remaining deposit terms, SHB kept the interest rate unchanged.

On the contrary, the trend of decreasing deposit interest rates continues as Asia Commercial Joint Stock Bank (ACB ) has adjusted to reduce deposit interest rates at all deposit terms.

In the latest online deposit interest rate table of this bank, the interest rate is adjusted down by 0.1% to 2.3%/year for 1-month term. Similarly, the deposit interest rate is also reduced by 0.1% for 2- and 3-month terms to 2.5% and 2.7%/year, respectively. The above interest rate applies to deposit accounts under 200 million VND.

Meanwhile, ACB reduced the interest rate for 6-month term deposits by 0.2 percentage points to 3.5%/year and for 12-month term deposits by 4.5%/year. The interest rate for 9-month term deposits decreased by 0.1 percentage point to 3.8%/year.

For deposit accounts from 200 million VND to less than 1 billion VND, ACB adds 0.1% points compared to the above interest rate table. The bank adds 0.15% points for interest rates on deposits from 1 billion VND to less than 5 billion VND, and adds 0.2% points for interest rates on deposits from 5 billion VND or more.

On the same day, Vietnam International Commercial Joint Stock Bank (VIB) also reduced online deposit interest rates to 2.5%/year for 1-month terms, 2.6%/year for 2-month terms, and 3-5 month terms to 2.8%/year.

Previously, this bank also reduced 0.1% for interest rates for terms from 6-36 months. Online interest rates for terms from 6-11 months are down to 4%/year, terms from 15-18 months are down to 4.8%/year, terms from 24-36 months are down to 5%/year .

Source: https://www.nguoiduatin.vn/them-mot-nha-bang-nguoc-dong-tang-lai-suat-huy-dong-a656102.html