Illustration
Interest rates on customer deposits at MB Bank
According to a survey of interest rates of Military Commercial Joint Stock Bank (MB) on February 4, the interest rates on deposits for individual customers decreased by 0.1 – 0.5% per year compared to the same period last year. The interest rate ranges for terms from 1 to 60 months, with end-of-term interest payments, range from 2.5 – 6% per year.
Specifically, the interest rates on terms of 1 month, 2 months, 3 months, 4 months, 5 months are 2.5% per year, 2.7% per year, 2.8% per year, 3.1% per year, and 3.2% per year.
Deposits with terms of 6 – 8 months receive interest rates of 3.8% per year. MB Bank applies interest rates of 4% per year for terms of 9 – 10 months and 4.1% per year for terms of 11 months.
Customers depositing for 12 – 15 months will receive an interest rate of 4.7% per year. At 18 months, the rate is 5.1% per year, and at 24 months, 5.8% per year
Currently, the highest preferential interest rate applied by MB to regular individual customers is 6% per year, for long terms from 36 months to 60 months.
For terms less than 1 month, the advertised interest rate is 0.5% per year. Non-term deposits receive very low interest rates, at 0.1% per year.
Interest rates on customer deposits at MB in February 2024
|
Term |
Interest paid after (%) per year |
|
No term |
0.10% |
|
01 week |
0.50% |
|
02 weeks |
0.50% |
|
03 weeks |
0.50% |
|
01 month |
2.50% |
|
02 months |
2.70% |
|
03 months |
2.80% |
|
04 months |
3.10% |
|
05 months |
3.20% |
|
06 months |
3.80% |
|
07 months |
3.80% |
|
08 months |
3.80% |
|
09 months |
4.00% |
|
10 months |
4.00% |
|
11 months |
4.10% |
|
12 months |
4.70% |
|
13 months |
4.70% |
|
15 months |
4.70% |
|
18 months |
5.10% |
|
24 months |
5.80% |
|
36 months |
6.00% |
|
48 months |
6.00% |
|
60 months |
6.00% |
Source: MB
In addition to regular customers, MB also implements interest rates specifically for its branches in the Central and South Central regions. Specifically, the interest rates for deposits ranging from 1- 60 months in these regions range from 2.6 – 6.1% per year, higher than the overall interest rates for regular individual customers by 0.1% per year. In which, the highest interest rate is 6.1% per year applied to terms from 36 months onwards in branches located in the Central and South Central regions.
Interest rates on customer deposits at MB branches in the Central and South Central regions in February 2024
|
Term |
Interest paid after (%) per year |
|
No term |
0.10% |
|
01 week |
0.50% |
|
02 weeks |
0.50% |
|
03 weeks |
0.50% |
|
01 month |
2.60% |
|
02 months |
2.80% |
|
03 months |
2.90% |
|
04 months |
3.20% |
|
05 months |
3.30% |
|
06 months |
3.90% |
|
07 months |
3.90% |
|
08 months |
3.90% |
|
09 months |
4.10% |
|
10 months |
4.10% |
|
11 months |
4.10% |
|
12 months |
4.80% |
|
13 months |
4.80% |
|
15 months |
4.80% |
|
18 months |
5.20% |
|
24 months |
5.90% |
|
36 months |
6.10% |
|
48 months |
6.10% |
|
60 months |
6.10% |
Source: MB
Interest rates on corporate customer deposits at MB
In early February 2024, MB’s interest rates on deposits for Organizational customers also decreased compared to January, to 2.4 – 6% per year for terms of 1 – 60 months with end-of-term interest payments.
Specifically, the interest rates for terms of 1 – 5 months are 2.4% per year, 2.5% per year, 2.7% per year, 2.9% per year, and 3% per year
For terms of 6 months – 8 months, the same interest rate applies: 3.7% per year.
Customers depositing for terms of 9 – 10 months receive an interest rate of 3.8% per year and for the term of 11 months, it is 3.9% per year.
Both terms of 12 and 13 months have the same deposit interest rate: 4.6% per year.
Interest rates of 5% per year and 5.6% per year are set for terms of 18 months and 24 months respectively.
MB Bank applies an interest rate of 6% per year for deposits at terms from 36 months to 60 months.
For short terms, MBBank maintains the interest rates for deposits less than 1 month at 0.5% per year and for non-term deposits at 0.1% per year.
Interest rates on corporate customer deposits at MB in February 2024
|
Term |
Potential interest paid (%) per year |
|
No term |
0.10% |
|
01 week |
0.50% |
|
02 weeks |
0.50% |
|
03 weeks |
0.50% |
|
01 mo |
2.40% |
|
02 mo |
2.50% |
|
03 mo |
2.70% |
|
04 mo |
2.90% |
|
05 mo |
3.00% |
|
06 mo |
3.70% |
|
07 mo |
3.70% |
|
08 mo |
3.70% |
|
09 mo |
3.80% |
|
10 mo |
3.80% |
|
11 mo |
3.90% |
|
12 mo |
4.60% |
|
13 mo |
4.60% |
|
15 mo |
4.60% |
|
18 mo |
5.00% |
|
24 mo |
5.60% |
|
36 mo |
6.00% |
|
48 mo |
6.00% |
|
60 mo |
6.00% |
Source: MB
