The Most Recent Agribank Interest Rates for August 2024: First Increase in Almost 2 Years, with the Highest Rate Offered on 24-Month Term Deposits

Agribank’s savings interest rates for individual customers

According to the latest survey in early August 2024, deposit interest rates for individual customers at the Vietnam Bank for Agriculture and Rural Development (Agribank) have increased compared to previous months, currently ranging from 1.7 – 4.8%/year. This is the first time in four and a half months that Agribank has adjusted deposit interest rates, and the first time since November 2022 that the bank has raised interest rates.

Specifically, interest rates for 1-2 month terms have been increased by 0.1%/year, reaching 1.7%/year;

Deposit interest rates for 3-5 month terms have also increased by 0.1%/year, now at 2.0%/year.

Meanwhile, interest rates for 6-11 month terms remain unchanged at 3.0%/year. Agribank also maintains deposit interest rates for 12-18 month terms at 4.7%/year.

The 24-month term interest rate has been increased by 0.1%/year to 4.8%/year. This is also the highest deposit interest rate currently offered by the bank.

Non-term deposits or those using payment accounts at Agribank will earn a low interest rate of 0.2%/year.

Agribank’s deposit interest rate table for individual customers in August 2024

Source: Agribank.

Agribank’s deposit interest rates for business customers

For business customers, Agribank’s deposit interest rate framework remains unchanged from July, currently ranging from 1.6 – 4.2%/year.

Specifically, the 1 – 2 month term is listed at an interest rate of 1.6%/year; the 3 – 5 month term is at 1.9%/year; and the 6 – 11 month term is offered at 2.9%/year.

The longer terms of 12 – 24 months are applied with the highest interest rate of 4.2%/year.

For non-term deposits and payment accounts of business customers, Agribank offers an interest rate of 0.2%/year.

Agribank’s interest rate table for business customers in August 2024

Source: Agribank.