Savings interest rates up to 8.9% a year

Viet Capital Bank has just raised the mobilizing interest rate of over 100 million dong to 8.9% a year – the highest level in the market today.

Specifically, from October 14-18, with deposits of over VND 100 million, the interest rate that Ban Viet Bank (Viet Capital Bank) applies for 6 months, 12 months and 15 months is 8, 5% a year, 8.7% and 8.9%. Previously, the highest mobilizing interest rate of this bank was 8.6% for 24- and 36-month terms. A representative of the bank said that this interest rate only applies for one week to pay tribute to customers on the occasion of October 20, not long.

In mid-August, the same bank announced the issuance of a registered deposit certificate with the highest interest rate in the market, up to 10.2%.

Meanwhile, state-owned banks currently have the highest interest rate of 7%. ABBank is mobilizing at the highest interest rate of 8.5% per annum for a 12-month term, the highest interest rate of Eximbank is 8.4%, PG Bank is 8.2%; Kienlongbank, NCB, ACB are 8% or NamABank, VIB are 7.99% …

In theory, the highest deposit interest rate in the market being announced by Saigon – Hanoi Bank (SHB) is up to 9% per annum (13-month term) and 8.9% (12-month term). ). However, this interest rate only applies to very large personal deposits, exceeding VND 500 billion. For deposits of less than VND 500 billion, the highest interest rate offered by SHB is much lower, around 7.5%.

From the beginning of October until now, not only Viet Capital Bank but some other banks have also increased deposit interest rates for terms longer than 6 months, when the demand for capital mobilization is increasing as the year ends.

From October 3, Techcombank raised deposit rates for 6-month, 12-month and 15-month deposits to 0.2-0.3% and slightly decreased by 0.1% for the remaining terms. , compared to early September.

On October 4, deposit interest rates of SHB increased over many periods for territorial savings products. Accordingly, the maximum interest rate of SHB applied is 8.1% for 6-month term, 8.2% for 9-month term; 8.3% for 12 month term and 8.4% for 13 month term.

Assessing the trend of mobilizing interest rates until the end of the year, securities companies believe that interest rates will be stable and difficult to increase sharply, if any, in small and medium banks due to seasonal factors. Agreeing with this view, expert Can Van Luc said that fundamentally, interest rates are stable but may increase slightly due to the high interest rate of real estate businesses. In addition, the reason is that banks prepare medium and long-term capital to meet Basel II and the draft Circular 36 requiring short-term capital ratio for medium and long-term loans.

Since the end of August, the State Bank has also directed strict control of capital mobilization in the face of many banks continuously promoting the mobilization program and issuing certificates of high interest rate deposits. Accordingly, the operator warned that any unit racing to raise deposit rates, affecting the overall premises may be “lowered” credit growth target.