Latest Savings Interest Rate Update on November 20th: Two More Banks Raise Rates, OCB Hits Maximum Limit

Orient Commercial Joint Stock Bank (OCB) has recently updated its deposit interest rates, effective from November 19. Interest rates for very short terms of 1–3 weeks remain unchanged at 0.50%/year. However, for terms of 1 month and longer, there is a widespread increase of 0.15–0.30 percentage points, depending on the deposit amount.

Specifically, for online deposits with interest paid at maturity (the product with the highest interest rate), the 1-month term rate has been adjusted from 3.90–4.20% to 4.20–4.50%/year. The 2-month term has increased from 4.00–4.20% to 4.30–4.50%/year, and the 3-month term from 4.10–4.25% to 4.40–4.55%/year.

The 4-month term has risen from 4.10–4.60% to 4.40–4.65%/year, and the 5-month term from 4.50–4.65% to 4.65–4.75%/year. With these adjustments, OCB joins other banks like MBV, Nam A Bank, Bac A Bank, and VIB in offering the maximum allowed deposit rate of 4.75%/year for terms under 6 months.

The 6-month term rate has increased from 5.00–5.20% to 5.30–5.50%/year, a rise of approximately 0.30 percentage points. Terms from 7 to 11 months have also increased uniformly from 5.00–5.20% to 5.30–5.50%/year.

The 12-month term has risen from 5.10–5.30% to 5.40–5.60%/year, and the 13–15 month term from 5.10–6.00% to 5.40–6.20%/year. The 18-month term has been raised to 5.60–6.20%/year, the 24-month term to 5.80–6.20%/year, and the 36-month term to 5.90–6.20%/year.

Pioneer Commercial Joint Stock Bank (TPBank) has also increased its rates by 0.2 percentage points for 1-month, 6-month, and 9-month terms, and by 0.1 percentage point for the 3-month term, while keeping the 12–36 month terms unchanged.

According to the new online interest rate chart, TPBank’s 1-month term rate is 3.9%/year, 2-month term is 4.1%/year, 3-month term is 4.2%/year, 6-month term is 5.1%/year, 9-month term is 5.3%/year, 12-month term is 5.5%/year, 18-month term is 5.7%/year, and the highest rate of 5.9%/year is offered for 24–36 month terms.

OCB and TPBank are the latest banks to raise savings interest rates in November. Previously, around 20 banks, including major ones like Sacombank, VPBank, MB, HDBank, and Techcombank, had already increased their deposit rates.

According to industry experts, the widespread increase in interest rates indicates that the competition for capital mobilization has intensified in the fourth quarter of 2025, particularly among joint-stock commercial banks. This is in anticipation of higher capital demand at the end of the year and to narrow the gap between deposit and lending growth.

In a recently published macroeconomic report, Vietcombank Securities (VCBS) forecasts that deposit interest rates will trend upward toward the end of the year, especially among joint-stock commercial banks, primarily due to two factors.

First, liquidity pressure in the banking system is increasing as credit is expected to accelerate significantly in the final months of the year, with full-year growth estimated at 18–20%. As of the end of October, credit had grown by 13.37% compared to the end of 2025, reflecting strong capital demand in the economy.

Second, the risk of USD/VND exchange rate fluctuations remains, given the increased demand for foreign currency during the peak import season at the end of the year.