Just increased interest rates, banks reduced them again

OceanBank has reduced interest rates for the second time since the beginning of the month. Currently, OceanBank is no longer the bank with the highest interest rate.

Specifically, bank interest rates for 1-2 month terms decreased by 0.3 percentage points to 4.3%/year, and for 3-5 month terms decreased by 0.1 percentage points to 4.5%/year. For 6-8 month terms, the interest rate decreased by another 0.3 percentage points to 5.5%/year. For 9-11 month terms, the interest rate decreased by 5.6%/year.

Terms from 12-36 months were simultaneously adjusted down by 0.2 percentage points to 5.8%/year. This is also the highest deposit interest rate at OceanBank at this time.

Vietnam International Commercial Joint Stock Bank (VIB) continued to adjust deposit interest rates for the third time this month. During this adjustment period, VIB reduced interest rates for 3-month and 4-month terms by 0.3 and 0.1 percentage points to 4% and 4.2% per year, respectively.

VIB keeps the interest rates unchanged for the remaining terms. The interest rate for 1-month term is 3.8%/year, 2-month term is 3.9%/year, 5-month term is 4.3%/year, 6-8 month term is 5.1%/year, 9-11 month term is 5.2%/year, 15-18 month term is 5.8%/year and 24-36 month term is 5.8%/year. The 24-36 month term has the highest interest rate at VIB today.

Previously, this bank had reduced interest rates on November 6 but suddenly increased interest rates on November 17 for 2-5 month term deposits from 4% to 4.3%/year.

Currently, the highest deposit interest rate for 6-8 month term belongs to HDBank with 5.7%/year. Next is PVCombank (5.6%/year), OceanBank, BaoVietBank and NCB (5.5%/year).

The highest deposit interest rate for 9-11 month term is 5.65% (NCB), followed by 5.6%/year at PVCombank, OceanBank, BaoVietBank and KienLongBank.

For 12-month term deposits, the highest interest rate on the market today is 5.9%/year belonging to HDBank and BaoVietBank. Next are OceanBank, NCB, and VietBank with 5.8%/year.

Since the beginning of November, 25 banks have reduced deposit interest rates, including Sacombank, NCB, VIB, BaoVietBank, Nam A Bank, VPBank, VietBank, SHB, Techcombank, Bac A Bank, KienLongBank, ACB, Dong A Bank, PG Bank, PVCombank, VietA Bank, SCB, Eximbank, OceanBank, BVBank, OCB, TPBank, CBBank, HDBank, SeABank.

Of which, VietBank, Dong A Bank, VIB reduced interest rates twice this November.

On the contrary, VIB, OCB and BIDV have increased their deposit interest rates since the beginning of the month. OCB increased interest rates for terms from 18 to 36 months. BIDV increased interest rates for terms from 6 to 36 months, while VIB increased terms from 2 to 5 months.

HIGHEST DEPOSITS INTEREST RATE TABLE ON NOVEMBER 20 (%/year)
BANK	1 MONTH	3 MONTHS	6 MONTHS	9 MONTHS	12 MONTHS	18 MONTHS
HDBANK	3.85	3.85	5.7	5.5	5.9	6.5
PVCOMBANK	3.65	3.65	5.6	5.6	5.7	6
OCEANBANK	4.3	4.5	5.5	5.6	5.8	5.8
BAOVIETBANK	4.4	4.75	5.5	5.6	5.9	6.2
NCB	4.45	4.45	5.5	5.65	5.8	6
GPBANK	4.25	4.25	5.45	5.55	5.65	5.75
VIETBANK	3.8	4	5.4	5.5	5.8	6.2
KIENLONGBANK	4.55	4.75	5.4	5.6	5.7	6.2
VIET A BANK	4.4	4.4	5.4	5.4	5.7	6.1
BAC A BANK	4.35	4.35	5.4	5.5	5.6	5.95
BVBANK	4	4.15	5.25	5.4	5.5	5.55
OCB	3.8	4.1	5.2	5.3	5.5	6.2
SHB	3.5	3.8	5.2	5.4	5.6	6.1
SAIGONBANK	3.4	3.6	5.2	5.4	5.6	5.6
LPBANK	3.8	4	5.1	5.2	5.6	6
CBBANK	4.2	4.3	5.1	5.2	5.4	5.5
MB	3.5	3.8	5.1	5.2	5.4	6.1
VIB	3.8	4	5.1	5.2		5.6
MSB	3.8	3.8	5	5.4	5.5	6.2
EXIMBANK	3.6	3.9	5	5.3	5.6	5.7
SACOMBANK	3.6	3.8	5	5.3	5.6	5.75
VPBANK	3.7	3.8	5	5	5.3	5.1
SCB	3.75	3.95	4.95	5.05	5.45	5.45
PG BANK	3.4	3.6	4.9	5.3	5.4	6.2
NAMA BANK	3.6	4.2	4.9	5.2	5.7	6.1
DONG A BANK	3.9	3.9	4.9	5.1	5.4	5.6
ABBANK	3.7	4	4.9	4.9	4.7	4.4
TPBANK	3.6	3.8	4.8		5.35	5.7
TECHCOMBANK	3.55	3.75	4.75	4.8	5.25	5.25
AGRIBANK	3.4	3.85	4.7	4.7	5.5	5.5
BIDV	3.2	3.5	4.6	4.6	5.5	5.5
VIETINBANK	3.4	3.75	4.6	4.6	5.3	5.3
SEABANK	3.8	4	4.6	4.75	5.1	5.1
ACB	3.3	3.5	4.6	4.65	4.7
VIETCOMBANK	2.6	2.9	3.9	3.9	5	5