Deposit interest rate suddenly increased again

Deposit rates rose up in some commercial banks. Photo: Tan Thanh

In the latest deposit rate schedule applied from the beginning of March 2021, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) suddenly raised interest rates for many terms. The adjustment is the highest increase to 0.8 percentage point compared to the interest rate schedule in early February.

Specifically, the highest deposit interest rate for ordinary customers, over 50 years old, sending from 3 billion dong or more is 3.3% / year for a period of 1-2 months; 3.4% / year for 3-5 month term; 4.7% / year for 6-11 month term. The highest interest rate of 5.4% / year applies to a term of 12-35 months in this customer group, while the highest interest rate of 5.8% / year applies to a 36-month term.

Also at Techcombank, the highest applicable savings interest rate is 5.9% / year for priority customers with 36-month terms, the amount of VND 3 billion or more, up 0.9 percentage points compared to the schedule. interest rates at the beginning of February.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has also applied a new deposit rate schedule for individual customers since the beginning of March, adjusted to increase for many tenors of less than 6 months.

At 3-month term, the interest rate applicable to customers depositing at the counter with the amount of less than 300 million is 3.5% / year, up by 0.2 percentage point over the previous month. If depositing from 3 billion VND or more, customers will enjoy the interest rate of 3.7% / year, also up to 0.1% compared to before.

For the 5-month term, the deposit interest rate of VPBank is currently 3.5-3.7% / year, up to 0.2 percentage points compared to the previous month’s interest rate schedule …

Deposit rates rebounded immediately after the Lunar New Year, in the context of low credit demand due to the influence of Covid-19 translation; the liquidity of banks continued to be abundant.

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