Vietnam International Commercial Joint Stock Bank (VIB) has just adjusted its deposit interest rates down for many terms. Accordingly, in the online deposit interest rate table on January 9 of this bank, the deposit interest rate for a 1-month term decreased by 0.2 percentage points to only 3.2%/year.

Deposit interest rates decreased by 0.3 percentage points for 2-month terms to 3.2%/year, while 3-5 month terms decreased by 0.1 percentage points to 3.4%/year.

At the same time, VIB also slightly adjusted the interest rate for 6-11 month terms down by 0.1 percentage point to 4.6%/year.

The bank kept the deposit interest rate unchanged at 5.1%/year for terms of 15-18 months, and 5.3%/year for terms of 24-36 months.

On the same day, Tien Phong Commercial Joint Stock Bank (TPBank) also adjusted deposit interest rates for all terms down by 0.1-0.4 percentage points.

Accordingly, the bank has adjusted online deposit interest rates down by 0.2 percentage points for 1-3 month terms, to 3% and 3.2% per year, respectively.

At the same time, TPBank also reduced the 6-month term interest rate to 4.2%/year. At the 12-month term, the mobilization interest rate decreased by 0.1% to 4.9%/year and decreased by 0.2% to 5.1%.year at the 18-month term.

In particular, for 24 and 36 month terms, TPBank sharply reduced deposit interest rates by 0.4 and 0.3 percentage points to 5.2% and 5.3%/year, respectively.

Thus, from the beginning of the month until now, 10 banks have reduced deposit interest rates in the new year of Giap Thin, including BaoViet Bank, GPBank, Eximbank, SHB, Bac A Bank, KienLong Bank, LPBank, OCB, VIB, TPBank.

On the contrary, at the beginning of 2024, Asia Commercial Joint Stock Bank (ACB) was the first bank to increase deposit interest rates.

Accordingly, the online interest rate table at ACB on January 2 recorded that the interest rate for 1-3 month deposits increased by 0.3 percentage points; the interest rate for 12 and 18 month terms increased by 0.1 percentage points.

Specifically, for savings accounts under 200 million VND, the deposit interest rate for a 1-month term is 2.9%/year, a 2-month term is 3%/year, a 3-month term is 3.2%/year, a 6-month term is 3.9%/year, a 9-month term is 4.2%/year and a 12-month term is 4.8%/year.

For deposit accounts from 200 million VND to less than 1 billion VND, ACB adds 0.1%; for deposit accounts from 1 billion VND to less than 5 billion VND, add 0.15% and add 0.2% interest rate for deposits from 5 billion VND or more.

Although the mobilization interest rate has been continuously adjusted downward since the last months of 2023 until now. However, according to data from the State Bank, in 2023, the amount of money deposited into the banking system by residents and economic organizations reached more than 13.5 million billion VND, the highest deposit level in the history of the banking industry .