Surveying the market up to now, many banks still maintain savings interest rates from 8%/year or higher.
In mid-February, many Vietnamese banks are offering high savings interest rates of up to 8% per year.
Specifically, for deposits of VND 500 billion or more, MSB offers an interest rate of 8% per year for a 13-month term. Additionally, the bank provides a 7% per year rate for similar deposits with a 12-month term.
HDBank has also listed an interest rate of 7.7% for a 12-month term and 8.1% per year for a 13-month term, provided the deposit maintains a minimum balance of VND 500 billion. PVcomBank continues to offer a savings interest rate of up to 9% for a 12-month term, applicable to deposits of at least VND 2,000 billion. For deposits starting from VND 200 billion, Viki Bank currently lists an interest rate of 7.5% per year for a 13-month term.
Besides MSB, HDBank, PVcomBank, and Viki Bank, Wooribank is also among the banks offering high savings interest rates, reaching up to 11% per year. However, to qualify for this rate, customers must participate in a 1-year accumulation savings plan, with a maximum deposit of VND 2 million per month.
For standard deposits, the highest interest rate in the system is 6.6% per year at Eximbank, applicable to 24–36-month terms through online savings. The bank also offers online interest rates ranging from 5.6% to 6.6% per year for 12–24-month terms.
Apart from Eximbank, BVBank is another bank offering competitive interest rates. It currently applies rates between 6.25% and 6.45% per year for online savings with a 15–24-month term. The highest over-the-counter rate is 6.32% per year for a 36-month deposit. IVB offers its highest interest rate of 6.45% per year for terms ranging from 5 to 15 years, 6.25% per year for a 48-month term, and 6.15% per year for a 36-month term.
For a 12-month term, GPBank also offers a high interest rate of up to 6.25% per year for online deposits. Several banks, including HDBank, MBV, Viki Bank, and KienlongBank, list interest rates of up to 6.1% per year for this term. IVB provides an interest rate of 6.05% per year for online deposits.
For a 9-month term, GPBank lists an interest rate of 5.9% per year. KienlongBank and Viki Bank offer up to 5.8% per year, while Viet A Bank and MBV both apply a rate of 5.5% per year. For a 6-month term, the highest interest rate currently stands at 5.85% per year at VCBNeo, applicable to online savings. Eximbank offers a 5.6% per year rate for this term, while Viet A Bank, Saigonbank, and MBV all list rates of up to 5.5% per year.
According to KB Vietnam Securities Company (KBSV), the State Bank of Vietnam (SBV) is expected to maintain a loose monetary policy to stimulate economic growth. As a result, deposit interest rates may rise slightly by 30 to 100 basis points (0.3% – 1%), depending on the bank group.
For state-owned banks (Vietcombank, BIDV, VietinBank, Agribank), deposit interest rates may increase by 30 to 50 basis points, though they will likely remain lower than those of private banks due to support from Treasury deposits.
Meanwhile, for joint-stock commercial banks, deposit interest rates may increase by 50 to 100 basis points, with smaller banks facing greater pressure to raise rates due to a lack of advantages in non-term deposits (CASA).