Public Bank Vietnam - a bank from Malaysia, has updated its new deposit interest rate schedule in the Vietnamese market in a slightly downward direction.

According to the VND deposit interest rate table for individual customers (Basic Savings Deposit Package) recently announced by Public, the deposit interest rate with terms from 6 months to 17 months has decreased by 0.1%/year. For the basic savings package, the interest rate for a 1-2 month term is 3.8%/year; for a 3-5 month term is 4%/year; for a 6-8 month term is 4.8%/year; for a 9-11 month term is 5%/year; for a 12-17 month term is 5.3%/year. This bank has the highest deposit interest rate of 5.75%/year for an 18-month term. Meanwhile, for terms of 24 and 36 months, the rates are listed at 5.4%/year.

Some foreign banks adjust deposit interest rates

Public Bank Vietnam also has a Savings Plus package that is about 0.2%/year higher than the basic savings package for terms of 6-60 months.

Another foreign-invested bank that also adjusted its interest rate down is Indovina Bank Limited (IVB). This is a joint venture between the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Cathay United Bank (CUB) of Taiwan (China).

It is known that IVB kept the interest rate unchanged for the 1-3 month term. The bank reduced the 6-month term by 0.15%/year, currently listed at 5.1%/year; The 9-month term decreased by 0.1%/year, the 12-month term decreased by 0.15%/year to 5.65%/year; The 24-month term was also slightly reduced by 0.1%/year to 5.8%/year.

Referring to the interest rates of some other international banks in Vietnam, Standard Chartered is currently listing interest rates ranging from 2.5%/year - 4.45%/year for terms. Meanwhile, Hong Leong Bank is currently listing interest rates from 2.7%/year to 4.6%/year with interest paid at the end of the term for over-the-counter savings products.

Source: https://thoibaonganhang.vn/dong-thai-giam-lai-suat-tu-cac-ngan-hang-nuoc-ngoai-162742.html