Latest Savings Interest Rates Comparison: Agribank, Vietcombank, BIDV, VietinBank - Which Offers the Highest Rate?

 In early April, many banks continued to adjust interest rates. After the latest adjustment, the highest savings interest rates in the Big 4 group are not for short deposit terms of less than 12 months but from 24-36 months.

Right on the first day of April 1, Vietcombank officially adjusted savings interest rates, bringing savings interest rates at some terms to the lowest level among the Big 4 banks. Previously in March, Agribank , Vietinbank and BIDV simultaneously adjusted savings interest rates in a downward direction.


According to our survey, up to now, the highest savings interest rate among the Big 4 group is currently at 4.8%/year. Specifically, BIDV and VietinBank keep the interest rate for customers depositing money from 24 - 36 month terms at 4.8%/year, followed by Vietcombank and Agribank applying an interest rate of 4.7%/year for similar term.


For a 12-month term, Vietcombank is applying the lowest savings interest rate among the Big 4 banks, paying only 4.6%/year. The remaining banks apply an interest rate of 4.7%/year.


Similarly, with a term of 6-9 months, the savings interest rate at Vietcombank is also listed at the lowest level among the Big 4 banks, kept at 2.9%/year. The remaining banks pay interest at 3%/year for this term.


For 3-month terms, savings interest rates at BIDV and VietinBank are currently kept at 2%/year. Vietcombank and Agribank jointly apply a savings interest rate of 1.9%/year.


Also for 1-2 month terms, Vietcombank and Agribank apply the lowest savings interest rate, at 1.6%/year. BIDV and VietinBank pay a deposit interest rate of 1.7%/year.


Previously, the State Bank required banks to send the link of the column announcing interest rates to the State Bank before April 1. Up to now, some banks have published average lending interest rates on their websites.


Recently, Agribank announced the average lending interest rate and average interest rate difference in March 2024. Specifically, the short-term loan interest rate for a number of priority industries and fields under the direction of the Government and the State Bank announced by Agribank is 4.0%/year. Short-term loan interest rates are normally at least 5%/year. Medium and long-term loan interest rates are normally at least 6%/year. The lending interest rate for consumption via credit card is 13%/year. The average lending interest rate at Agribank is 7.47%/year.


Agribank, BIDV, TPBank, VIB... publicize lending interest rates: Lowest from 5%/year- Photo 1.

Source: Agribank.


According to Agribank's announcement, the average capital cost is 6%/year. In particular, the average deposit interest rate is 4.2%/year, other costs (including mandatory reserves, liquidity reserves, deposit insurance, operating costs) are 1.8%/year. year. With the above average lending and mobilization interest rates, the current interest rate difference between lending and mobilization is 1.47%/year. This is the first time Agribank has published information under the direction of the Prime Minister and the State Bank.


Before Agribank, BIDV was the first bank among the Big 4 banks to publish information on its website about the average lending interest rate in March. Accordingly, the average lending interest rate at BIDV is 6.49%/year. The difference between the average lending interest rate and the average capital mobilization interest rate is 3.12%/year.


International Commercial Joint Stock Bank (VIB) also announced that the average lending interest rate in February for individual customers with short-term loans was 7.29%/year; Medium and long-term loans are 8.6%/year. For corporate customers, the average short-term loan interest rate is 6.83%; medium and long term is 7.69%. VIB's average deposit and loan interest rate difference is 3.16%/year.


At Lien Viet Post Bank (LPBank), the average lending interest rate announced at the end of February for amounts arising during the month, regardless of individuals or businesses, is 8.07%/year. The average interest rate for deposits of all terms is 5.82%/year. The average interest rate difference is 2.25%/year.


Tien Phong Commercial Joint Stock Bank (TPBank) announced an average lending interest rate of 7.76%. Specifically, the average lending interest rate for individual customers is 8.85% and for corporate customers is 7.34%. The average interest rate difference at TPBank is 3.75%.

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