VietinBank has launched an overdraft loan secured by online deposits on its VietinBank iPay Mobile app, letting customers access funds without withdrawing early from unmatured savings deposits. The credit limit can reach 90% of the deposit value and no more than 10 billion VND, is maintained for up to 12 months, and cannot exceed the remaining term of the deposit. Interest is charged only on the amount and number of days actually used, at the deposit rate plus a margin set by VietinBank, currently 3.5% per year. Eligible individual customers aged 18 or older with no group 2 or bad debt can register and disburse 24/7 in the app, while accumulation deposits and flexible-withdrawal deposits are excluded.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: VietinBank ra mắt sản phẩm vay thấu chi bảo đảm bằng tiền gửi trực tuyến
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VietinBankbanksinterest ratessavings accountscredit
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Related tickers and likely impact
CTG
• NeutralVietinBank
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Banks |
| Market cap | 235,727 bn VND |
| P/E | 5.9 |
| P/B | 1.21 |
| Close on 10/28/2026 | 30.70 |
| Change that session | +1.15% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- What Interest Rate Does VietinBank Offer on Deposits of 6 Months or Longer?
VietinBank's website rate table lists 3% per year for terms from 6 to under 12 months, 5.4% for 12 to under 24 months and 5.5% for 24 months or longer, while shorter terms stay unchanged at 2.1% for 1 to under 3 months and 2.4% for 3 to under 6 months. The changes follow the State Bank's request to cut deposit rates for terms of 6 months or longer by at least 0.5 percentage points per year. On October 19, many private banks, including ACB, TPBank, Sacombank and OCB, lowered rates by 0.5 to 0.7 percentage points per year on these terms. Vietcombank and Agribank also cut rates on terms of 6 months or longer by 0.5 percentage points, effective October 20.
- Is the deposit rate cut just a 'pie in the sky'?
About 26 banks have announced cuts to their listed deposit rates since 18/10, yet a Tien Phong survey on 26/10 found that customers with large deposits were still offered rates well above the listed levels, which are commonly 5-6%/year. One state-owned bank advised 8%/year for a 6-month term while its counter table showed 3%/year, and another bank's app displayed 9.0%/year for 6 months against a listed 5.7%/year. On 21/10/2026, the State Bank of Vietnam asked banks to make genuine cuts to deposit and lending rates, with the average rate on new deposits of 6 months or longer to fall by at least 0.5%/year in the final months of the year. Rong Viet Securities (VDSC) expects deposit rates to fall quickly in the short term but finds deep cuts hard in 2027, since the gap between deposits and credit remains large, although it has narrowed from about 2.8 million billion VND to about 2.35 million billion VND.
- Momentum of savings rate increases likely ended
According to newly released State Bank of Vietnam (SBV) data, average deposit rates at commercial banks rose a further 0.1 percentage points in September, extending the upward run to 11 consecutive months, though the pace has slowed from 0.3 points a month in late last year and early this year. The article says the rise is likely to end this month after many banks cut their minimum deposit rates by 0.5 percentage points on SBV instructions. Under dispatch No. 9736/NHNN-CSTT dated 21 October 2026, the SBV requires commercial banks to cut average deposit rates on new transactions with tenors of 6 months or longer by at least 0.5% per year in the final months of 2026, compared with rates reported between 11 October and 20 October 2026. Many analysts expect rates to hold flat until year-end and decline gradually from 2027, while the SBV warns that banks failing to comply could face tougher measures, including reviewing or lowering credit growth targets.
- Savings Interest Rates Have Risen for 11 Consecutive Months
The average deposit interest rate has risen continuously since October 2025, reaching 8.1% for 6-12 month terms versus 5.5% a year earlier, before climbing more slowly under State Bank of Vietnam guidance. The average lending rate in September was 10.9%, nearly 2 percentage points higher than at the end of last year, while short-term rates for priority sectors remain capped at 4%. Many banks have announced deposit rate cuts of at least 0.5 percentage points, and the streak of increases is likely to end this month, with some analysts expecting rates to stay flat until year-end. The State Bank of Vietnam also asked banks to cut lending rates by 1.5-2 percentage points a year for production, business and priority sectors, and warned that non-compliant institutions could face reviews of their remaining credit quotas.
- 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.
- Households Add About 7,000 Billion VND a Day to Bank Deposits
Household deposits at banks rose a net 210,000 billion VND in August, about 7,000 billion VND a day, reaching over 11.43 million billion VND by month-end, up 10.6% from the start of the year. Inflows have strengthened since the second quarter, as the highest listed deposit rate climbed to 7.6-7.8% a year from late April and many banks offer preferential rates of 8.5-9.5% a year. Bank executives say the wide gap between dong and foreign-currency rates is pushing individuals toward dong, and competition for deposits keeps intensifying. Corporate deposits rose about 157,000 billion VND to over 6.34 million billion VND, and total deposits grew 7.6% year-to-date, still slower than lending at 10.2%, so deposit rates are expected to stay high.
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