The fact that banks have continuously adjusted to reduce savings interest rates recently has caused the amount of interest earned from customers' new savings of VND 100 million to continue to decrease sharply.
In the last days of November and early December, a series of banks continued to sharply reduce savings interest rates for many terms. Banks' recent moves to reduce savings interest rates have brought savings interest rates in many terms to record lows. Therefore, the interest earned from customers' new savings of 100 million VND also decreased significantly compared to previous months.
According to the survey, the 1-month savings interest rate listed by banks ranges from 2.4%/year to 4.55%/year. With 100 million VND in this term savings deposit, the interest earned by customers ranges from 200,000 VND to 380,000 VND.
Among them, Kien Long Bank has the highest interest rate of 4.55%/year, Viet A Bank has savings interest of 4.4%/year, Ocean Bank, NCB, Bao Viet Bank, CBBank and GPBank range from 4.05%/year. %/year to 4.3%/year. At this term, Vietcombank has the lowest savings interest rate of only 2.4%/year.
With a 3-month term, the savings interest listed by banks ranges from 2.%/year to 4.75%/year. With 100 million VND in this term savings deposit, the amount of interest earned by customers ranges from 675,000 VND to 1,187 million VND.
At this term, there are currently 15 banks listing savings interest rates of 4%/year or more, Kien Long Bank has the highest savings interest rate of 4.75%/year, ranked 2nd is Bao Viet Bank with an interest rate of 4%. .55%/year. Behind, Ocebank, Viet A Bank, CBBank, NCB, Nam A Bank and GPBank have savings interest rates ranging from 4.05%/year to 4.5%/year.
Savings interest rates will be adjusted to decrease sharply by banks in the last months of 2023
For a 6-month term, savings interest rates are being listed by banks from 5.6%/year to 3.7%/year. The highest savings interest at only 5.6%/year belongs to PVCombank, followed by Ocbank and HDBank with savings interest of 5.5%/year. With 100 million VND in this term savings deposit, the amount of interest earned by customers ranges from 1.85 million VND to 2.8 million VND.
With a 9-month term, customers can enjoy savings interest from 3.%/year to 5.6%/year. There are 3 banks with the highest savings interest of 5.6%/year: PVCombank, Ocebank and Kien Long Bank, right behind is Vietbank with an interest rate of 5.5%/year.
The lowest savings interest rate for this term belongs to Vietcombank with an interest rate of only 3.7%/year. With 100 million VND in this term savings deposit, the interest earned by customers ranges from 2,775 million VND to 4.2 million VND.
After recent adjustments, the savings interest rate of 6%/year has also completely disappeared on the savings interest schedule of banks for the 12-month term. The highest interest rate for this term is currently only 5.8%/year. Meanwhile, the lowest savings interest rate for a 12-month term is only 4.7%/year. With 100 million VND deposited in a 12-month term, the interest earned by customers ranges from 4.7 million VND to 5.8 million VND.
Among them, Oceanbank and Vietbank have the highest interest for this term at 5.8%/year, followed by PVCombank, Kien Long Bank, NCB, Viet A Bank, HDBank and Nam A Bank with savings interest. 5.7%/year. Meanwhile, ACB and ABBank are the two banks with the lowest savings interest rates for this term with an interest rate of only 4.7%/year.
With an 18-month term, the savings interest rate was also adjusted by banks to decrease to only 4.4%/year to 6.5%/year. Currently, HDBank is the bank with the highest savings interest rate of 6.5%/year. Behind are Vietbank, Kien Long Bank, MSB, PGBank all with a savings interest rate of 6.2%/year.
According to a survey at this term, there are 13 banks listing savings interest rates ranging from 6 to 6.5%/year. With 100 million VND in current 18-month term savings, the amount of interest earned by customers ranges from 6.6 million VND to 9.75 million VND.
A report by VNDirect Securities Company estimates that savings deposits will be less attractive in the second half of 2023. Deposit interest rates (average) for 12-month terms may return to 5.0-5.2%. /year by the end of 2023 and maintained in this low area in 2024.
Although banks have continuously adjusted to reduce savings interest rates recently, in the context of many investment channels falling into a "frozen" state or having difficulty making profits like today, savings accounts are still popular with investors. choose as a safe place.
According to statistics from the State Bank, by the end of September, the amount of people's deposits increased by a total of VND 583,494 billion, equivalent to an increase of 9.95% compared to the end of 2022. This is a 9-month deposit growth rate. highest since 2018.
In total, deposits from residents and economic organizations in the banking system by the end of the third quarter of 2023 reached 12.68 million billion VND, an increase of nearly 7.28% compared to the beginning of the year and is the highest deposit level. history of banking industry.