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VietinBank raises deposit rates, commercial banks follow
VietinBank became the first large commercial bank with state capital to raise deposit rates earlier this morning.
Customers at a VietinBank branch office in Hoàn Kiếm District, Hà Nội. —VNA/VNS Photo
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Starting from June 3, VietinBank adjusted its deposit rates, increasing them by 0.2 per cent per annum for terms ranging from one to 11 months. The bank posted the adjusted rates as follows: 2 per cent per annum for 1-2 month terms, 2.3 per cent per annum for 3-5 month terms, and 3.3 per cent per annum for 6-11 month terms.
Other terms’ rates remained unchanged, according to the bank. Rates for 12-18 month terms stay at 4.7 per cent per annum and for 24-36 month terms at 5 per cent per annum.
The latest raise was on April 16, when VietinBank and BIDV raised the deposit rates by 0.2 per cent per annum for 1-11 month terms and 24-36 month terms. VietinBank's deposit rates for 24-36 month terms were listed at 5 per cent per annum.
VietinBank, Agribank, BIDV and Vietcombank are four of the country’s largest commercial banks with state capital.
Meanwhile, in the private sector, Tien Phong Commercial Joint Stock Bank (TPBank) adjusted its deposit rates, raising one-month terms by 0.23 per cent per annum and for other terms by 0.1 per cent per annum.
The bank posted deposit rates as follows: 1-month terms at 3.2 per cent per annum, 3-month terms at 3.4 per cent per annum, 6-month terms at 4.3 per cent per annum, 12-month terms at 5 per cent per annum, 18-month terms at 5.4 per cent per annum, and the highest rate for 24-36 month terms at 5.7 per cent per annum.
Vietnam International Commercial Joint Stock Bank(VIB) also raised its deposit interest rates earlier this morning. The bank posted deposit rates as follows: 1-2 month terms at 2.8 per cent per annum, 3-5 month terms at 3.1 per cent per annum, 15-18 month terms at 4.9 per cent per annum, and 24-36 month terms at 5.1 per cent per annum.
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