MSB, VietABank and GPBank have each cut deposit rates by 0.5 percentage points for 6- to 36-month terms, continuing a wave of cuts in line with government and State Bank of Vietnam policy. At MSB, online end-of-term deposit rates for individuals are now 5.8% a year for 6–11 months and 6.3% for 12 months, while VietABank lists 5.5%–5.8% a year for 6–36 months. Sacombank also cut rates by 0.5 percentage points from October 20, 2026. In the interbank market, the average overnight VND rate fell 0.2 percentage points to 3.95% a year in the week of October 19–23, 2026, while the one-week rate rose to 4.11%; Nguyễn Anh Quân of FiinRatings said rate cuts should be considered carefully given persistent pressure from energy and raw material prices.
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Original headline: Thêm nhiều ngân hàng giảm lãi suất
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interest ratesbanksState Bank of Vietnam
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/30/2026 | 1,741.62 |
| Change that session | -0.80% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Surprisingly 'ultra-low' deposit rates at SCB
Saigon Joint Stock Commercial Bank (SCB) has cut deposit rates across all terms, now listed at 0.01% to 1.18% a year depending on term. The article says SCB's 12-month rate is about 5% below state-owned banks and up to 7% below private banks. Other banks have also cut: SaigonBank has brought most terms below 7% a year, VPBank has lowered its 6–11-month rate to 6.6% for deposits under 10 billion dong, and Sacombank has reduced its 24–36-month rate from 7.8% to 7.3% a year for deposits of 500 million dong or more. The State Bank of Vietnam has asked banks to cut average deposit rates for new terms of 6 months or more by at least 0.5% a year in the final months of 2026, and to reduce lending rates by 1.5–2% a year for production, business and priority sectors.
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Ngân hàng TMCP Sài Gòn (SCB) has cut online savings rates for newly opening individual customers to 0.1%–0.7% per year from October 26, with 12-month deposits at 0.6% and 24-month deposits at 0.7%. For a 100 million dong deposit, the article estimates interest of 600,000 dong over 12 months and about 1.4 million dong over 24 months, assuming the rate holds and there is no early withdrawal. The move follows a State Bank of Vietnam directive on October 21 that banks cut average rates on new deposits of 6 months or longer by at least 0.5 percentage points in late 2026. SCB has been under special control since 2022, typically keeps the lowest deposit rates in the market and rarely changes them, and has shrunk from nearly 240 transaction points to about 8 across 6 localities.
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