What is the highest interest rate paid by big4 banks?

What is the highest interest rate paid by big4 banks?

August 29, 2024 Catherine Williams - Chief Editor Business

In addition, Vietinbank also has a policy of adding interest rates from 0.3-0.4%/year compared to the listed rate when customers deposit money for a term of 1-11 months; and adding interest rates of 0.2%/year compared to the listed rate when customers deposit money for a term of 24-36 months.

Thus, the interest rate for 6-11 month term deposits at VietinBank can be up to 3.7%/year, and the interest rate for 24-36 month term deposits can be up to 5.2%/year.

ONLINE DEPOSITS INTEREST RATES AT BIG4 BANKS (%/YEAR)TERMVIETINBANKBIDVAGRIBANKVIETCOMBANK1 MONTH221,81,63 MONTH2,32,32,21,96 MONTH3,33,33,22,99 MONTH3,33,33,22,912 MONTH4,74,74,74,618 MONTH4,74,74,74,624 MONTH54,94,84,736 MONTH54,94,84,7

Although maintaining interest rates lower than the general level, the above 4 banks still account for the majority of the mobilization market share.

According to VietNamNet statistics, in the first 6 months of 2024, Agribank continued to be the bank that people “chosen to deposit money” the most with 1,837 trillion VND as of June 30.

The amount of money deposited in Agribank increased only 0.91% compared to the beginning of the year, but in total, the total capital mobilized at Agribank accounted for 14.9% of the market share of the entire banking industry.

BIDV ranked second in total mobilized capital, with VND 1,786 trillion, up 5.99% compared to the end of 2023 and accounting for 14.51% of the mobilized market share.

With VND1,464 trillion mobilized by the end of June, VietinBank ranked third, up 3.89%, holding 11.89% of the mobilization market share.

Although ranked fourth in terms of mobilized capital, reaching VND1,376 trillion, Vietcombank’s customer mobilization decreased slightly by 1.81% compared to the end of last year. This “giant” is holding 11.17% of the mobilization market share.

HIGHEST DEPOSIT INTEREST RATES AT BANKS ON AUGUST 28, 2024 (%/YEAR)BANK1 MONTH3 MONTHS6 MONTHS9 MONTHS12 MONTHS18 MONTHSABBANK3,2455,565,7ACB33,44,154,24,8BAC A BANK3,53,855,15,65,75BAOVIETBANK3,345,25,45,86BVBANK3,73,85,15,55,86CBBANK3,845,555,55,75,85DONG A BANK3,63,64,94,95,35,2EXIMBANK3,54,35,24,55,45,1GPBANK33,524,855,25,755,85HDBANK3,553,555,14,75,56,1KIENLONGBANK3,73,75,25,35,65,7LPBANK3,43,54,74,85,15,6MB3,33,74,44,45,15MSB3,73,74,64,65,45,4NAM A BANK3,54,155,25,65,7NCB3,745,355,555,76,1OCB3,73,94,955,25,4OCEANBANK3,43,84,84,95,56,1PGBANK3,23,7555,55,8PVCOMBANK3,33,64,54,75,15,8SACOMBANK3,33,64,94,95,45,6SAIGONBANK3,33,64,84,95,86SCB1,61,92,92,93,73,9SEABANK2,953,453,753,954,55,45SHB3,53,855,15,55,8TECHCOMBANK3,253,454,554,554,954,95TPBANK3,53,84,75,25,4VIB3,23,54,64,65,1VIET A BANK3,43,74,84,85,45,7VIETBANK3,63,85,255,65,9VPBANK3,63,8555,55,5

According to statistics, from the beginning of August until now, 15 banks have increased deposit interest rates, including: Agribank, Eximbank, HDBank, Sacombank, Saigonbank, TPBank, CB, VIB, DongA Bank, VPBank, Techcombank, VietBank, SHB, PVCombank, and Nam A Bank.

Among them, Sacombank, VietBank, DongA Bank, and Techcombank are the banks that have increased interest rates twice during this period.

On the contrary, Bac A Bank, SeABank, and OCB are banks that unexpectedly reduced deposit interest rates during this time, of which SeABank has reduced interest rates twice.