National Commercial Joint Stock Bank (NCB) has just officially reduced deposit interest rates for terms from 1 – 12 months from today. This is the second time this bank has reduced deposit interest rates since early November.
According to NCB’s online deposit interest rate table, bank interest rates for 1 – 5 month terms decreased by 0.2 percentage points to 4.25%/year.
Interest rates for 6-8 month terms decreased slightly by 0.1 percentage points to 5.35%/year; The 9-11 month term interest rate also decreased by 0.1 percentage point to 5.45%/year.
For 12-month term deposits, NCB reduced the interest rate by 0.1 percentage point to 5.7%/year.
Meanwhile, the bank kept the deposit interest rate for 13-month terms at 5.8%/year and the interest rate for 15-60 month terms at 6%/year.
Also reducing interest rates is Global Petroleum Bank (GPBank). This is the first time GPBank has reduced interest rates since early November.
According to GPBank’s new online deposit interest rate schedule, bank interest rates for all terms simultaneously decreased by 0.2 – 0.3 percentage points. 1 – 5 month term decreased by 0.2 percentage points to 4.05%/year.
Bank interest rate 6-month term also decreased to 5.25%/year, 7-8 month term to 5.3%/year, 9-month term to 5.35%/year, 12-month term to 5.45% /year, and 13 – 36 month term is 5.55%/year.
Meanwhile, Techcombank reduced deposit interest rates for long terms from 12 – 36 months.
According to the online mobilization interest rate table for deposits under 1 billion VND, the 12 – 36 month term interest rate decreased slightly by 0.1 percentage point to 5.15%/year.
Techcombank still maintains deposit interest rates for the remaining terms. 1 – 2 month term is 3.55%/year, 3 – 5 month term is 3.75%/year, 6 – 8 month term is 4.75%/year, and 9 – 11 month term is 4.8%/year.
The above mentioned 1 – 5 month term deposit interest rates are also generally applied by Techcombank to both online deposits from 1 billion VND to 3 billion VND and from 3 billion VND or more.
However, with term deposits of 6 months or more, this bank adds an interest rate of 0.05%/year compared to lower deposits.
This is also the second time Techcombank has reduced deposit interest rates this November.
Besides Techcombank, NCB and GPBank, deposit interest rates at the remaining banks remained unchanged.
Since the beginning of November until now, there have been 26 banks reducing deposit interest rates: 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, GPBank.
Among them, VietBank, Dong A Bank, VIB, NCB, Techcombank are the banks that have reduced interest rates twice this November.
On the contrary, VIB, OCB and BIDV are the banks that have increased deposit interest rates since the beginning of the month. With OCB, the bank increases interest rates for terms from 18 – 36 months. Meanwhile, BIDV increased interest rates for terms from 6 to 36 months, while VIB increased interest rates for term deposits from 2 to 5 months.
| HIGHEST DEPOSITS INTEREST RATE SCHEDULE AT BANKS ON NOVEMBER 21 (%/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 |
| 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 |
| NCB | 4.25 | 4.25 | 5.35 | 5.45 | 5.7 | 6 |
| GPBANK | 4.05 | 4.05 | 5.25 | 5.35 | 5.45 | 5.55 |
| 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 | 5.15 | 5.15 |
| 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 |
Since last week, the SBV’s open market operations channel has not conducted new transactions. With 55.9 trillion VND of T-bills maturing, the total volume of T-bills outstanding in the market decreased sharply to 98.7 trillion VND.
In case the State Bank does not have any new T-bill transactions, the entire volume of T-bills in circulation will expire in the first week of December, equivalent to the State Bank injecting nearly 100 trillion VND back into the system. copper within the next 3 weeks.
As for interbank interest rates, overnight interest rates continued to cool down and ended the week at 0.3%, down 40 basis points compared to the previous week and back to the same level as in early September. before the State Bank carries out the bill issuance operation.
Regarding fluctuations in the USD, the USD/VND exchange rate is positive as the exchange rate has cooled down. The interbank exchange rate ended last week at 24,271 VND/USD, equivalent to an increase in VND price of about 0.3% and narrowing the depreciation to only 2.7% compared to the end of 2022.
Similarly, Vietcombank’s listed exchange rate cooled down quickly to 24,045 – 24,415 VND/USD, down 55 VND compared to the previous weekend.
On the contrary, the exchange rate on the free market has the opposite trend with a slight increase of 50 VND. According to analysts, this is a factor to monitor as it can create risks to the exchange rate if the difference between the listed and free exchange rates widens above 200 VND/USD.
