HDBank has just announced a reduction of 0.2%/year for deposits with terms from 1-13 months.

For online deposits, the interest rate for 1-5 month terms is reduced to 3.65%/year, 6 month to 5.5%/year. Interest rate for 7-11 month terms is reduced to 5.2%/year, 12 month to 5.7%/year, and 13 month to 5.9%/year.

HDBank still maintains the interest rate for terms from 15-36 months. Currently, the interest rate for 15-month terms is 6.4%/year, 18-month terms is 6.5%/year (the highest in the market for online deposits) and 24-36-month terms is 6.3%/year.

For counter deposits, interest rates also decreased by 0.2%/year.

HDBank still applies the "special interest rate" policy for deposits of 300 billion VND or more for 12 and 13 months, at 8% and 8.4%/year, respectively. The "special interest rate" decreased by 0.2%/year compared to yesterday.

In the last two days of November, a series of major banks reduced deposit interest rates including: Agribank , VietinBank, Vietcombank, BIDV, MB, and Techcombank.

In particular, Vietcombank continues to reduce deposit interest rates to an unprecedented low, with 1-2 month terms down to only 2.4%/year, 3-5 months down to only 2.7%/year, 6-11 months down to 3.7%/year and 12-24 months down to 4.8%/year.

The situation of banks having excess cash causes both deposit and lending interest rates to decrease.

BVBank has just reported the progress of using the proceeds from the share issuance in May 2023. BVBank issued more than 79.5 million shares to existing shareholders and collected more than VND 795 billion.

The bank added VND99,365 billion to short-term loans, VND400 billion to invest in government bonds, and VND296 billion to lend to the market. As of November 22, the collected money was still sitting in the account without being disbursed a single dong.

Although excess liquidity leads to a decrease in deposit interest rates, many banks still have policies to attract depositors.

HIGHEST INTEREST RATES AT BANKS ON DECEMBER 1 (%/year)
BANK 1 MONTH 3 MONTHS 6 MONTHS 9 MONTHS 12 MONTHS 18 MONTHS
PVCOMBANK 3.65 3.65 5.6 5.6 5.7 6
HDBANK 3.65 3.64 5.5 5.3 5.7 6.5
OCEANBANK 4.3 4.5 5.5 5.6 5.8 5.8
VIETBANK 3.8 4 5.4 5.5 5.8 6.2
KIENLONGBANK 4.55 4.75 5.4 5.6 5.7 6.2
VIET A BANK 4.4 4.4 5.4 5.4 5.7 6.1
NCB 4.25 4.25 5.35 5.45 5.7 6
BAOVIETBANK 4.2 4.55 5.3 5.4 5.6 6
GPBANK 4.05 4.05 5.25 5.35 5.45 5.55
SHB 3.5 3.8 5.2 5.4 5.6 6.1
BAC A BANK 3.8 4 5.2 5.3 5.5 5.85
LPBANK 3.8 4 5.1 5.2 5.6 6
OCB 3.8 4 5.1 5.2 5.4 6.1
CBBANK 4.2 4.3 5.1 5.2 5.4 5.5
VIB 3.8 4 5.1 5.2 5.6
BVBANK 3.8 3.9 5 5.2 5.5 5.55
EXIMBANK 3.6 3.9 5 5.3 5.6 5.7
MSB 3.8 3.8 5 5.4 5.5 6.2
VPBANK 3.7 3.8 5 5 5.3 5.1
SCB 3.75 3.95 4.95 5.05 5.45 5.45
NAMA BANK 3.6 4.2 4.9 5.2 5.7 6.1
SAIGONBANK 3.3 3.5 4.9 5.1 5.4 5.6
PGBANK 3.4 3.6 4.9 5.3 5.4 6.2
DONG A BANK 3.9 3.9 4.9 5.1 5.4 5.6
ABBANK 3.7 4 4.9 4.9 4.7 4.4
MB 3.3 3.6 4.8 4.9 5.2 5.7
TPBANK 3.6 3.8 4.8 5.35 5.7
SACOMBANK 3.6 3.8 4.7 4.95 5 5.1
TECHCOMBANK 3.55 3.75 4.65 4.7 5.05 5.05
SEABANK 3.8 4 4.6 4.75 5.1 5.1
ACB 3.3 3.5 4.6 4.65 4.7
AGRIBANK 3.2 3.6 4.5 4.5 5.3 5.3
BIDV 3.2 3.5 4.5 4.5 5.3 5.3
VIETINBANK 3.2 3.6 4.5 4.5 5.3 5.3
VIETCOMBANK 2.4 2.7 3.7 3.7 4.8 4.8