Banks unexpectedly cut interest rates

According to Lao Dong, on August 4, An Binh Commercial Joint Stock Bank (ABBank) suddenly reduced savings interest rates, down 0.2-0.3 percentage points for most online deposit terms.

ABBank's online deposit interest rate table records the following changes:

1-month term interest rate remains at 3.2%/year.

3-month term interest rate decreased by 0.1 percentage point, down to 4.0%/year.

6-month term interest rate decreased by 0.3 percentage points, down to 5.3%/year.

The 9-month term interest rate decreased by 0.2 percentage points, down to 5.5%/year.

12-month term interest rate decreased by 0.2 percentage points, down to 6.0%/year.

Interest rate for 18-36 month term remains at 5.7%/year.

Despite a significant reduction in interest rates, ABBank is still the bank at the top of the rankings with the highest interest rate for a 12-month term.

ABBank's counter deposit interest rate schedule has not recorded any significant changes and is currently listed as follows:

1-month term interest rate is 3.0%/year.

3-month term interest rate is 3.4%/year.

6-month term interest rate is 4.6%/year.

9-month term interest rate is 4.2%/year.

12-month term interest rate at 5.4%/year.

Interest rate for 18-36 month term is 5.5%/year.

Since the beginning of August, the market has recorded 7 banks increasing interest rates including: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank.

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Details of deposit interest rates at banks, updated on August 4, 2024