Vietnam International Commercial Joint Stock Bank ( VIB ) has just become the next bank to increase deposit interest rates, with an increase for terms of 1-18 months from today, August 7.

According to the online interest rate table posted by VIB, the bank interest rate for 1-2 month term increased by 0.1%/year to 3.2%/year; the 3-5 month term also increased by 0.1%/year to 3.5%/year.

VIB increased the online savings interest rate by 0.2%/year for the term of 6-18 months. Therefore, the interest rate for the term of 6-11 months has increased to 4.6%/year, the term of 12-18 months has increased to 5.1%/year.

Meanwhile, the highest deposit interest rate at VIB remains unchanged at 5.2% per year.

Not only VIB increased interest rates, after 5 consecutive months of not changing the deposit interest rate table, Dong A Commercial Joint Stock Bank ( Dong A Bank ) has also officially adjusted the deposit interest rate by "shockingly" increasing the interest rate for 12-13 month terms.

Accordingly, the interest rates for these two terms increased by 0.8%/year, to 5.3% and 5.6%/year. These are also the two highest deposit interest rates at Dong A Bank currently according to the normal deposit method.

Dong A Bank keeps the deposit interest rates for the remaining terms unchanged. The interest rate for 1-2 month terms is 2.8%/year, 3-5 month terms is 3%/year, 6-8 month terms is 4%/year, 9-11 month terms is 4.2%/year and 18-36 month terms is listed at 4.7%/year.

In addition to the above savings interest rates, Dong A Bank still maintains a "special interest rate" of up to 7.5%/year, on the condition that customers deposit from 200 billion VND for a term of 13 months or more.

Meanwhile, Southeast Asia Commercial Joint Stock Bank ( SeABank ) suddenly reduced its deposit interest rates by 0.25%/year for all terms after increasing the highest interest rate to 6.2%/year, the market-leading level.

According to the interest rate table at the counter for individual customers depositing from 100 million to under 500 million VND, the interest rate for 1-2 month term is reduced to 2.95%/year, 3-5 month term is reduced to 3.45%/year, 6 month term is 4.15%/year, 7 month term is 4.23%/year, 8 month term is 4.26%/year, 9 month term is 4.29%/year, 10 month term is 4.32%/year, 11 month term is 4.35%/year, 12 month term is 5%/year, 12 month term is 5.2%/year and the interest rate for 15-36 month terms is 5.75%/year.

SeABank applies a ladder interest rate for different deposit levels, the interest rate difference between two adjacent deposit levels is 0.05%/year.

Currently, the highest interest rate at SeABank is 5.95%/year, applied to deposits of VND 10 billion or more, with a term of 15-36 months, a decrease of 0.25%/year compared to the highest interest rate in the market of 6.2%/year previously listed by this bank.

According to statistics, since the beginning of August, 9 banks have increased their deposit interest rates, including: Agribank , Eximbank, HDBank, Sacombank, Saigonbank, TPBank, CB, VIB and Dong A Bank. Of which, Sacombank is the bank that has increased interest rates twice during this period.

On the contrary, SeABank is the only bank that has reduced deposit interest rates since the beginning of the month.