Savings Interest Rates Cut Across the Board

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interest ratessavings accountsState Bank of Vietnambanks

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• Governor: 'Rate cuts must target the right recipients, prioritising production and business'

  Governor Phạm Đức Ấn asked banks to cut lending rates selectively, prioritising production and business loans and considering existing debt, not just new loans. Average lending rates rose 0.2 percentage points to 10.7% in August, about 3 points higher than a year earlier, while legacy floating-rate personal loans reached 12-14%. Banks must cut deposit rates by at least 0.5% for terms of 6 months and above, and on 19/10 BVBank, LPBank and Vietbank published new rates below 7% a year. BIDV offers loans from 6% a year, Vietcombank pledged to cut lending rates by at least 2 percentage points by year-end, and Sacombank launched a 40,000 billion VND package. The State Bank will closely monitor rates and stands ready to support banks' liquidity, as rate hikes by the Fed, ECB and BOJ in September pressure emerging economies.

  VnExpress·19/10, 08:09▲ VNINDEXinterest ratesState Bank of Vietnambanks
• Bank with the largest customer deposits cuts savings interest ratesCafeF·20/10, 04:20▲ VNINDEXinterest ratessavings accountsbanks
• Bank Staff Push Last-Minute Deposits Ahead of Interest Rate Cuts

  Following a State Bank of Vietnam directive to lower deposit rates, staff at many banks are pushing customers to deposit funds at the last minute before rates fall. The central bank requires banks to cut deposit rates by at least 0.5 percentage point for terms of 6 months and longer, or face tighter credit growth targets. The highest listed rate for 6-12-month terms hit 8% in August, up 2.5 percentage points year on year, while a VnExpress survey found 6-month rates at 8.5-9.2% a year. Since the directive, 15 banks have announced new deposit rate schedules, mostly cutting by 0.5 percentage point to below 7% a year for terms of 6 months and above. Some analysts say rates are near their peak and could ease from early 2027, though a quick reversal is unlikely as credit demand tends to rise toward year-end.

  VnExpress·20/10, 03:44▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratessavings accountsbanks
• Banks begin sharp cuts to deposit rates across many terms on the afternoon of October 19

  The State Bank of Vietnam (SBV) asked credit institutions to cut deposit rates by at least 0.5% a year for terms of 6 months or longer, and lending rates by 1.5-2% a year for production, business and priority sectors, while avoiding competitive rate hikes. LPBank cut deposit rates across all terms from 1 to 36 months, with its online 12-month rate now at 6.7% a year and 48-60 month rates at 5.2%. VietBank lowered online rates by 0.5 percentage points for terms of 6 to 36 months, bringing its 6-8 month rate to 5.4% a year. The central bank warned that banks failing to cut rates may face a review of their remaining credit quotas this year, lower targets next year, or higher safety ratios.

  CafeF·19/10, 08:45▲ VNINDEX▲ ACB▲ BID▲ CTGinterest ratesState Bank of Vietnamsavings accounts
• Agribank cuts savings rates for several terms, top counter rate falls to 5.5% per year

  Agribank has cut counter deposit rates for terms of six months and longer, lowering its top rate by 0.5 percentage points to 5.5% per year. The 6–11 month rate falls from 4% to 3.5% per year, the 12–18 month rate from 5.9% to 5.4%, and the 24-month rate from 6% to 5.5%. Rates for terms under six months stay unchanged. The move follows the State Bank of Vietnam's request that banks cut listed deposit rates by at least 0.5 percentage points for terms of six months or more, alongside measures to lower lending rates. Agribank, the system's largest deposit-taker, reported nearly VND 2.268 quadrillion in customer deposits in its Q2 2026 financial report.

  CafeF·20/10, 04:20▲ VNINDEXinterest ratessavings accountsAgribank
• 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.

  CafeF·20/10, 01:43▲ CTG▲ VCB▲ VNINDEXinterest ratessavings accountsState Bank of Vietnam

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