Unexpected adjustment at a bank

According to Lao Dong, on August 14, Bac A Commercial Joint Stock Bank (Bac A Bank) issued a new interest rate schedule, recording a decrease of 0.1-0.2 percentage points at all terms.

The deposit interest rate table (with amount over 1 billion VND) is currently listed as follows:

One-month interest rate decreased by 0.2 percentage points, down to 3.7%/year.

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

The 6-month term interest rate decreased by 0.15 percentage points, down to 5.2%/year.

The 9-month term interest rate decreased by 0.15 percentage points, down to 5.3%/year.

12-month term interest rate decreased by 0.15 percentage points, down to 5.8%/year.

Interest rates for 18-36 month terms decreased by 0.1 percentage points to 5.95%/year.

The deposit interest rate table (with amount under 1 billion VND) is currently listed as follows:

One-month interest rate decreased by 0.2 percentage points, down to 3.5%/year.

The 3-month term interest rate decreased by 0.1 percentage point, down to 3.8%/year.

6-month term interest rate decreased by 0.15 percentage points, down to 5.0%/year.

The 9-month term interest rate decreased by 0.15 percentage points, down to 5.1%/year.

12-month term interest rate decreased by 0.15 percentage points, down to 5.6%/year.

Interest rates for 18-36 month terms decreased by 0.1 percentage points, down to 5.75%/year.

Before the interest rate reduction, Bac A Bank was one of the leading banks with the highest interest rates for terms of 1-3-6-12-18-36 months. After the interest rate reduction, although no longer holding the leading position as before, Bac A Bank's interest rates are still among the highest for the above terms.

Bac A Bank is one of the few banks that have "reversed the trend" to reduce interest rates since the beginning of August. In addition, ABBank has listed a 0.1-0.3% reduction in interest rates for most terms; SeABank also listed a 0.25% reduction in interest rates for all terms.

On the contrary, the market recorded 12 banks increasing savings interest rates including: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank.

(See more high interest rates HERE)

Details of deposit interest rates at banks, updated on August 14, 2024