Unexpected adjustments at a bank
According to Lao Dong newspaper, on August 14th, 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 across various maturities.
The deposit interest rates (for amounts over 1 billion VND) are currently listed as follows:
Interest rates for 1-month deposits decreased by 0.2 percentage points, to 3.7% per annum.
Interest rates for 3-month terms decreased by 0.1 percentage point, to 4.0% per annum.
Interest rates for 6-month terms decreased by 0.15 percentage points, to 5.2% per annum.
Interest rates for 9-month terms decreased by 0.15 percentage points, to 5.3% per annum.
Interest rates for 12-month terms decreased by 0.15 percentage points, to 5.8% per annum.
Interest rates for 18-36 month terms decreased by 0.1 percentage point, to 5.95% per annum.
The current deposit interest rates (for amounts under 1 billion VND) are as follows:
Interest rates for 1-month deposits decreased by 0.2 percentage points, to 3.5% per annum.
Interest rates for 3-month terms decreased by 0.1 percentage point, to 3.8% per annum.
Interest rates for 6-month terms decreased by 0.15 percentage points, to 5.0% per annum.
Interest rates for 9-month terms decreased by 0.15 percentage points, to 5.1% per annum.
Interest rates for 12-month terms decreased by 0.15 percentage points, to 5.6% per annum.
Interest rates for 18-36 month terms decreased by 0.1 percentage point, to 5.75% per annum.
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, and 36 months. After the reduction, although it no longer holds the leading position as before, Bac A Bank's interest rates are still among the highest for those terms.
Bac A Bank is one of the few banks that have "gone against the trend" by reducing interest rates since the beginning of August. In addition, ABBank recently listed a reduction of 0.1-0.3 percentage points across most maturities; SeABank also listed a reduction of 0.25 percentage points across various maturities.
Conversely, the market saw 12 banks increase savings interest rates, including: Eximbank,ACB , Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, and Techcombank.
(See more high interest rates HERE)
Details of deposit interest rates at various banks, updated August 14, 2024.
Source: https://laodong.vn/kinh-doanh/bien-dong-lai-suat-148-lai-suat-bat-ngo-loi-nguoc-dong-1380284.ldo
