Interest Rate Adjustments Effective Today, April 17th, at Bank

Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank), one of the banks offering high interest rates in the market, just announced a change in its interest rates for savings accounts starting today, April 17.

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Accordingly, VietBank has reduced deposit interest rates for terms from 1 to 12 months by 0.1 %/year, and 14-15-month terms by 0.2 %/year.

This is the first time that VietBank has reduced deposit interest rates in nearly 3 months, although other banks have continuously lowered savings interest rates during this time. Therefore, this bank is always one of the banks with attractive savings interest rates among more than 30 domestic banks surveyed.

Specifically, the online deposit interest rates at VietBank – the product with the highest interest rate – have been adjusted as follows: 1-month term reduced to 3%/year, 2-month term 3.1%/year, 3-month term 3.4%/year, 5-month term 3.6%/year, 6-month term 4.5%/year, 6-8-month term 4.6%/year, 9-10-month term 4.7%/year, 11-month term 4.8%/year, 12-month term 5.2%/year.

Deposit interest rates for online terms of 14 and 15 months have been reduced down to 5.3% and 5.5%/year, respectively.

VietBank keeps deposit interest rates for terms of 16-17 months at 5.7%/year and for terms of 18-36 at 5.8%/year.

Before VietBank, some other banks had also adjusted to reduce deposit interest rates from the beginning of April, such as Vietcombank, PGBank, SCB, Techcombank, ABBank, Dong A Bank, Viet A Bank, Eximbank, Nam A Bank.

Conversely, many banks have re-increased deposit interest rates, such as HDBank, MSB, Eximbank, NCB, VPBank, KienLong Bank, VietinBank.