BIDV and VietinBank both cut counter deposit rates by 0.5 percentage points per year for terms of 6 months and longer, bringing their highest rate to 5.5% per year. At BIDV, the 6- and 9-month terms fell to 3%, the 12- to 18-month terms to 5.4%, and the 24- and 36-month terms to 5.5%; VietinBank adopted similar levels. Short-term rates were left unchanged, with both banks listing 2.1% for 1 to 2 months and 2.4% for 3 to under 6 months. The move followed Vietcombank and Agribank lowering deposit rates a day earlier, in line with a State Bank of Vietnam request that banks cut rates by at least 0.5 percentage points for terms of 6 months and longer. After the changes, all four state-owned banks, Vietcombank, VietinBank, BIDV and Agribank, have a top rate of 5.5% per year.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Ngày 21/10, BIDV và VietinBank đồng loạt giảm lãi suất tiết kiệm
Keywords
BIDCTGinterest ratessavings accountsbanks
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Related tickers and likely impact
BID
▲ Likely positiveBIDV
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 261,737 bn VND |
| P/E | 8.1 |
| P/B | 1.38 |
| Close on 10/21/2026 | 34.10 |
| Change that session | +1.34% |
CTG
▲ Likely positiveVietinBank
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 236,503 bn VND |
| P/E | 5.9 |
| P/B | 1.21 |
| Close on 10/21/2026 | 30.50 |
| Change that session | +0.16% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Deposit rates drop simultaneously at Vietcombank, VietinBank and dozens of private banks
On the morning of 20 October, VietinBank, Vietcombank and about 15 private banks simultaneously cut deposit rates by 0.5–0.7 percentage points per year for terms of 6 months and longer, following a State Bank of Vietnam directive to lower deposit rate levels and create room for lending rate cuts. At VietinBank, the 6-to-under-12-month rate fell from 3.5% to 3% per year, the 12-to-under-24-month rate from 5.9% to 5.4%, and the 24-month-and-longer rate from 6% to 5.5%. Vietcombank cut its 6- and 9-month rates to 3% per year and its 36-, 48- and 60-month rates to 4.8%. Most banks kept rates for terms under 6 months unchanged, as these are subject to a 4.75% per year ceiling. The SBV also asked banks to cut lending rates by 1.5–2% per year for production, business and other priority sectors.
- BIDV cuts lending rates by up to 2.0% per year
BIDV has launched a preferential credit program offering lending rates from 6.0% per year, up to 2.0% lower than its usual rates depending on loan term and sector. The program applies system-wide from October 15, 2026, to short-term VND loans in sectors aligned with government priorities, subject to the program's conditions and BIDV's credit rules. The bank says it aims to help customers access capital at reasonable cost to boost production and business, especially during the year-end peak of 2026, and to anticipate government and State Bank direction on lowering lending rates. Customers can contact BIDV branches or transaction offices for advice.
- Another big bank, VietinBank, cuts lending rates by up to 2% per year
VietinBank announced on October 19 measures to cut lending rates by up to 2% per year to lower capital costs for businesses and households and support production through the end of 2026, prioritizing agriculture, affordable housing and infrastructure. It also runs a VND 50,000 billion credit program through 2028, with rates at least 1% per year below average. Agribank cuts rates by up to 2% per year and keeps a VND 70,000 billion program, Vietcombank pledged cuts of at least 2% by year-end, and BIDV offers loans from 6% per year. The moves follow a State Bank of Vietnam directive on October 18 requiring deposit rate cuts of at least 0.5% per year for terms of 6 months or more, and lending cuts of 1.5–2% per year for production and business.
- State Bank of Vietnam urges banks to cut savings rates across all channels
On Oct. 21, the State Bank of Vietnam told commercial banks to make real deposit rate cuts across all sales channels, following the Governor's instruction at a meeting on Oct. 19. Banks must cut average deposit rates for new transactions with terms of 6 months or longer by at least 0.5 percentage points per year in the final months of 2026, compared with their average rates from Oct. 11 to 20. The regulator said it will monitor the figures and may take strict action against non-compliant banks, including lowering or assigning lower credit growth targets. About 20 banks have updated their deposit rate tables, mostly cutting 0.5 points for terms from 6 months at both counters and online. Meanwhile, rates on staff-linked promotional programs at branches have not yet shown signs of easing.
- Sending VND 100 Million at VPBank, Techcombank, HDBank, MB, SHB and Sacombank on 21/10: How Much Interest After 12 Months?
According to rate tables surveyed on 21 October, 12-month counter deposit rates at six major private banks, namely VPBank, Techcombank, HDBank, MB, SHB and Sacombank, range from 5.2% to 6.9% per year, with VPBank highest at 6.9%. For a VND 100 million deposit held for 12 months with interest paid at maturity, counter customers would earn roughly VND 5.2–6.9 million in interest, depending on bank and product. Online, VPBank lists 7.1% per year, or VND 7.1 million, which is VND 200,000 more than its counter rate, while HDBank's online rate is 5.3%. The figures assume the full 12-month term with no early withdrawal, and rates may change over time. The interest gap between VPBank's and HDBank's online rates reaches VND 1.8 million after one year.
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