More and more banks pay high deposit interest rates

The trend of increasing deposit interest rates has been on the rise since May 2024 and has now entered its third month, leading to interest rates from 5%/year - which banks only apply to deposits with terms of 18 months or more - also appearing in terms of 6-15 months.

A month ago, all banks listed interest rates below 4.9%/year for 6-8 month term deposits, but now ABBank, NCB, Eximbank and CB list interest rates above 5%/year for these terms.

In addition, a series of banks are approaching the 5% interest rate for 6-month deposits, including: OCB, BaoViet Bank, Bac A Bank, HDBank, GPBank, OceanBank,...

For 9-11 month terms, interest rates above 5% are increasingly appearing. As of July 6, there were 10 banks listing interest rates from 5%-5.8%/year for these terms.

ABBank is still the bank paying the highest interest rate for 9-11 month term deposits, up to 5.8%/year. Next are NCB, GPBank, CBBank, Nam A Bank and BVBank, all above 5%/year. OCB, BaoViet Bank, Bac A Bank, KienLong Bank listed an interest rate of 5% for 9-11 month term deposits.

Notably, there are 23 banks paying interest rates of 5%-6%/year for 12-month term deposits. Of which, the highest interest rate for 12-month term still belongs to ABBank, up to 6%/year, the only bank listing this interest rate for the same term.

GPBank and NCB are next with interest rates of 5.75% and 5.7%/year respectively. Next are BVBank (5.6%/year); BaoViet Bank, Bac A Bank, OceanBank, HDBank (5.5%/year).

The longer the term, the higher the interest rate, in which the highest interest rate of up to 6.1% is being listed by NCB and OceanBank for term deposits from 18-36 months. HDBank also announced an interest rate of 6.1%/year for term deposits of 18 months, while SHB pays this interest rate to customers depositing for 36 months or more.

In addition to the 4 banks that are paying the "huge" interest rates mentioned above, the group of banks BaoViet Bank, GPBank, BVBank, PGBank, PGBank, VietBank, ABBank, Viet A Bank,... have relatively attractive interest rates for 18-36 month term deposits, ranging from 5.8-5.9%/year.

In addition, if customers want to receive higher interest rates, they can choose to deposit money at the counter at some banks that are maintaining a “special interest rate” policy. To enjoy this interest rate, customers must have a minimum deposit account of VND 200 billion.

Specifically, the "special interest rate" at Dong A Bank is 7.5%/year for customers with term deposits of 13 months or more with deposits of 200 billion VND or more.

ACB also applies "special interest rates" of 5.7% (monthly interest) and 5.9%/year (end-of-term interest) for customers with deposit balances of VND200 billion or more and a term of 13 months.

The "special interest rate" at HDBank is 7.7%/year, applied to 12-month term deposits with balances of VND500 billion or more, 8.1%/year applied to 13-month term deposits also with balances of VND500 billion or more.

The "special interest rate" at MSB is currently 7%/year, applied to deposits from 500 billion VND and terms of 12-13 months. In addition, this bank also applies special interest rates for regular customers with a 6-month term interest rate of 6.1%/year (the normal interest rate is 4.6%/year) and interest rates for 12-month, 15-month, 24-month terms of 5.7%/year (the normal interest rate is 5.4%/year).

PVCombank is a bank with a "special interest rate" policy of up to 9.5%/year (the highest rate currently) for 12 and 13 month term deposits. However, this is also the place that has the strictest conditions when the deposit amount must be from 2,000 billion VND.