In early june, some banks adjusted their listed interest rates, showing mixed trends. Fewer banks now offer rates above 7% compared to last month.

Currently, SHB is the only bank publicly listing an interest rate close to 8% per year for online deposits. The group of banks paying around 7% includes: UOB, Sacombank, PGBank, LPBank, OCB, VIB, and MBV.

A survey by VnExpress reveals that annual interest rates of 6.5% and higher are common. Over half of the banks in the market apply these rates for deposits with maturities of six months or more.

Furthermore, deposit interest rates show no significant difference between state-owned and private banks. Short-term deposits of one to three months commonly reach the 4.75% ceiling. State-owned banks, including: BIDV, Agribank, and VietinBank, also offer 6.6-6.8% per year for deposits of six months or more.

Beyond publicly listed rates, some financial institutions offer special incentive programs and negotiated interest rates. For instance, Vikki Bank, HDBank, and Nam A Bank provide rates of approximately 8.2-8.5% per year for individual savings customers depositing 100 million VND or several hundred million VND, typically requiring an employee referral code.

According to credit rating agency VIS Rating, banks are operating this year amidst an unfavorable and volatile business environment. Interest rates remain elevated due to system-wide liquidity pressure and external adverse factors that diminish asset quality and profitability.

Meanwhile, the State Bank of Vietnam recently continued to urge and monitor banks to reduce savings interest rates. Within just one month, the regulatory body instructed banks to avoid an interest rate race to maintain low lending rates and support the economy.

The following table presents officially listed bank savings interest rates, ordered from highest to lowest, for deposits under one billion VND. These rates do not reflect actual agreements between banks and preferred customers, VIPs, or those making large deposits.

Quynh Trang