Bank interest rates increase: Market situation and new trends
- 199
- Business
- 18:53 15/08/2024
DNHN - On August 13, 2024, significant changes were recorded in bank interest rates. 12 banks have increased their deposit rates since the beginning of August. Notably, many banks have raised their 12-month term interest rates above 5% per year.

In recent days, the banking market has witnessed a strong surge in deposit interest rates. Particularly, since the beginning of August 2024, 12 banks have adjusted their rates upwards, reflecting a major shift in financial policy. Meanwhile, only one bank has lowered its interest rates during this period. This indicates that banks are trying to attract capital and improve liquidity amid an unstable economy.
The increase in deposit interest rates is primarily concentrated in long-term deposits, with the interest rate for 12-month terms now exceeding 5% per year. ABBank currently leads with the highest rate of 6% per year, applied only to this term. Other banks, such as BaoViet Bank, BVBank, and Saigonbank, have also adjusted their rates to 5.8% per year for 12-month terms. This trend shows that banks are competing to attract long-term capital, while interest rates for short-term deposits and state-owned banks remain lower.
The rise in interest rates is a sign of a financial market undergoing adjustments, reflecting changes in monetary policy and capital requirements. Specifically, state-owned banks like Agribank, VietinBank, Vietcombank, and BIDV still maintain lower rates compared to other commercial banks, indicating a clear differentiation in interest rate policies between these groups.
The current situation suggests that the banking market is going through a significant transition. Banks are adjusting their deposit rates to meet capital demands and compete in a rapidly changing economic environment. This trend is expected to continue in the coming months as banks further adjust their policies to optimize capital and maintain financial stability.
ABBank currently tops the interest rate chart with a rate of 6% per year for 12-month deposits, the highest rate available. Other banks, such as BaoViet Bank, BVBank, and Saigonbank, also offer a rate of 5.8% per year for the same term. Bac A Bank and GPBank list their rates at 5.75% per year, while KienLong Bank and VietBank offer 5.6% per year.
Interest rates of 5% or higher have now become the standard for 12-month terms, with very few banks maintaining rates below 5%. Techcombank currently offers the lowest rate at 4.95% per year for deposits under 1 billion VND. ACB provides a rate of 4.8% per year, while Agribank, BIDV, and VietinBank uniformly list their rates at 4.7% per year. Vietcombank and SCB have rates of 4.6% per year and 3.7% per year, respectively.
Since the beginning of August, 12 banks have raised their deposit rates, with Sacombank making two adjustments. Conversely, SeABank is the only bank to have lowered its rates during this period.
According to the financial report for Q2 2024, commercial banks have mobilized a total of 12.309 trillion VND in the first half of the year. Among these, the four largest state-owned banks—Agribank, VietinBank, Vietcombank, and BIDV—dominate in capital mobilization, with total deposits reaching 6.36 trillion VND, accounting for 52% of the total outstanding loans of all 30 banks. Notably, despite leading in capital mobilization, this group of state-owned banks currently offers the lowest deposit interest rates in the market.
Nguyen An
Related news
#banking system

Restructuring the banking sector through mandatory transfers
The State Bank of Vietnam (SBV) has decided on the mandatory transfer of Vietnam Construction Bank (CB) and Ocean Commercial Bank (OceanBank) to Vietcombank and Military Bank (MB), respectively.

The banking sector is the highest brand value growth area in 2024
A total of six major banks have made it into the Top 10 strongest brands in Vietnam, including Vietcombank, BIDV, VietinBank, Techcombank, Agribank, and VPBank.

The State Bank of Vietnam studies the roadmap to remove credit room
The State Bank of Vietnam (SBV) is considering a roadmap to remove the credit room mechanism as directed by the National Assembly and the Government.

Significant drop in fraud cases following nearly three months of biometric authentication implementation
According to statistics from banks, the implementation of biometric authentication regulations has effectively deterred high-tech criminals from using personal accounts for money transfers.

BIDV received 02 prestigious international awards for corporate products and services
Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV) has just been awarded the titles of "Best API Application & Open Banking Bank in Vietnam" and "Best Trade Finance Bank in Vietnam" for 2024 by The Asian Banker.

Bank interest rates on 31st October: Major players compete fiercely
Bank interest rates have been highly volatile, with one bank making its second rate adjustment in the month as of October 31, 2024, underscoring the competitive landscape.
Đọc thêm Business
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.
The master sales secrets of luxury king Bernard Arnault that make the world spend
Billionaire Bernard Arnault, Chairman of LVMH (Moët Hennessy Louis Vuitton), controls more than 70 of the world’s most prestigious luxury brands, from Louis Vuitton and Dior to Moët & Chandon and Bulgari.
White House: When politics and technology join forces to rewrite the global AI order
The White House became the epicenter of global attention as U.S. President Donald Trump and First Lady Melania Trump hosted a high-profile state dinner, bringing together more than 20 of the most powerful leaders in technology and American business.
Warren Buffett: The contrarian billionaire – What can Vietnamese entrepreneurs learn?
Warren Buffett has never invented a piece of technology, created a product that changed the world, or relied on social media.
Vietnam Golf Course Owners Summit 2025: Driving sustainable growth in golf tourism and golf economy in Vietnam
Vietnam Golf Course Owners Summit2025 (VNGOS 2025), focusing on the sustainable development of golf tourism and the golf economy in Vietnam, will be held for the first time on October 30 - 31, 2025, at Laguna Lăng Cô Resort, Hue City.
President Luong Cuong’s visit to China: A message of Vietnam’s diplomacy
From September 2 to 4, 2025, President Luong Cuong led a high-level Vietnamese delegation to attend the 80th anniversary of the world’s victory over fascism and to carry out a series of high-level diplomatic activities in China.
Prof. Dr. Huynh Van Chuong: A strategy to elevate Vietnam’s education on the global stage
On the occasion of the 80th anniversary of Vietnam’s education sector and the opening of the 2025–2026 academic year, Professor Huynh Van Chuong shared insights on key achievements in education quality management.
General Secretary To Lam: Investing in education is investing in the future.
The new academic year 2025–2026 officially began, marking the start of a new phase in Vietnam’s education: humanistic, globally integrated, innovative, and reaching outward to stand shoulder-to-shoulder with the world’s leading nations.
Hanoi Party Secretary Bui Thi Minh Hoai: “Hanoi 2025 – space of tradition and creativity” embodies the capital’s aspiration to rise
On the morning of September 1, a delegation of Hanoi’s Party Committee, People’s Council, People’s Committee, and the Vietnam Fatherland Front Committee was led by Party Secretary Bui Thi Minh Hoai.