Sure, here’s a revised version of the provided text: “Major Bank Hikes Savings Rates to Near Maximum Allowed”

The Vietnam Export Import Joint Stock Commercial Bank (Eximbank) has just announced the
application of a new deposit interest rate from today (July 4) with an increase in some
saving terms.

Specifically, for online deposits – the product with the highest interest rate, Eximbank
increased the interest rate by 0.5% per year for 3-month and 4-month terms, to 4.3% and 4.7%
per year, respectively. With this adjustment, Eximbank is currently the bank offering the
highest interest rate for 3-month and 4-month deposits. The interest rate of 4.7% per
year for the 4-month term is even approaching the ceiling rate of 4.75% per year set by the
State Bank for deposits under 6 months.

In addition, the bank also increased the interest rate for 6-month term deposits by 0.7% per
year, bringing it to 5.2% per year.

Eximbank kept the interest rates for the remaining terms unchanged. Accordingly, the interest
rate for 5-month term deposits is 3.9% per year, 9-month term is 4.5% per year, 12-15 month
term is 5% per year, 18-month term is 5.1% per year, and 24-36 month term deposits earn an
interest rate of 5.2% per year.

Previously, Eximbank had increased deposit interest rates three times in June. However, the
bank only made adjustments to certain terms in each of these changes.

Eximbank is the second bank to increase deposit interest rates in July. Earlier, NCB also
increased its interest rates by 0.1% per year for terms ranging from 1 to 13 months,
effective from July 3.

The trend of increasing deposit interest rates has emerged since the end of March and became
widespread in April, May, and continued into June. However, the increase has mainly been
driven by private joint-stock banks.

In June, 23 commercial banks in the market raised their deposit interest rates, including:
TPBank, VIB, GPBank, BaoViet Bank, LPBank, Nam A Bank, OceanBank, ABBank, Bac A Bank, MSB,
MB, Eximbank, OCB, BVBank, NCB, VietBank, VietA Bank, VPBank, PGBank, Techcombank, ACB,
SHB, and VietinBank. Notably, many of these banks raised their interest rates two to three
times during the month.

According to analysts, the low growth in deposits from individuals and enterprises in the
first months of the year, coupled with the recovery of credit growth, has prompted many banks
to increase deposit interest rates to ensure a balance in capital sources. Deposit interest
rates are expected to face upward pressure in the second half of the year, but the increase
will not be significant as credit demand during this period is not expected to surge.