return icon

Bank deposit interest rates up, as stock market, real estate investing risky

Depositing money at banks is currently the safest and most profitable investment channel, as Covid-19 developments remain complicated and the stock market is "hot" and, thus, risky.




Deposit interest rates at some banks increased slightly by 0.1-0.3 percent per annum in early June.

SHB is now offering an interest rate of 5.75 percent for six-month deposits and 6.55 percent for 24-month deposits.

Sacombank has applied new interest rates which are 0.2 percent higher than previously: 3.5 percent per annum for 2-months, 3.6 percent for 3-5-months, and 5 percent for six-month deposit.

The 0.1 percent increase is applied to longer-term deposits. The highest rate, 6.4 percent, is applied to 36-month deposits.

BacABank has raised the interest rates by 0.1 percent for 1-2-months, and 0.2 percent for 3-11-month deposits.

TPBank is running a special program, offering an interest rate of 6.5 percent for 12-month deposits, which is 0.5 percent higher than normal.

At some small banks, online depositors can get good interest rates for 9-36 month deposits. For 9-month deposit, the highest interest rate of 6.7 percent is offered by NamABank. The bank is also offering the highest rate for a 12-month deposit, at 6.9 percent.

Some banks are offering very high interest rates for huge amounts of deposits. OCB, for example, pays 8.2 percent per annum to 13-month deposits of over VND500 billion.

ACB offers an interest rate of 7.4 percent to 13-month deposits of VND30 billion and higher. Techcombank is applying an interest rate of 7.1 percent for 12-month deposits, worth VND200 billion or higher.

Analysts say the stock market has become too hot and the real estate market has experienced price fever. Thus, depositing money at banks is the safest and most profitable channel for many people.

The CPI in May increased by 0.16 percent over April. The CPI in the first five months of the year rose only by 1.29 percent, the mildest increase since 2016.

As such, Vietnam’s inflation rate is still low and far below the ceiling of 4 percent this year.

Economists predict that the inflation rate for 2021 will be no higher than 4 percent. This means that people will still enjoy positive interest rates with 6-month or longer-term deposits. This has prompted people to deposit idle money at banks to avoid risks during the pandemic.

Some analysts said that in previous months cash flow headed for the stock market and real estate. Therefore, banks have had to raise deposit interest rates to attract capital.

SSI Research predicted that the interest rate would move up from the beginning of the third quarter, when the Covid the outbreak is expected to be contained and credit increases. 

Tran Thuy

Lending interest rates about to increase

Lending interest rates about to increase

Recently, the interbank interest rates suddenly jumped, causing many people to worry whether bank lending rates will increase in the coming time while the business and production activities have been facing many difficulties due to Covid-19.

Real estate bond interest rates are too high, say experts

Real estate bond interest rates are too high, say experts

The HCM City Real Estate Association (HOREA), in its report about the real estate market in 2020 and prospects in 2021, says the real estate bond market will continue to grow well this year.


10-year-old translator brings scientific knowledge closer to young readers

Children’s history book series, Unstoppable Us, by best-selling author Yuval Noah Harari, has been translated from English into Vietnamese by a 10-year-old translator and published by Omega Plus.

Floods kill five in central region

Heavy downpours and floods in the central region in the past few days claimed the lives of five people as of 5pm on December 6.


Vietnam spends nearly 190 million USD on importing pork in ten months

Vinfast faces challenges in North America

North America is a promising market, but it is not easy to be successful because there are many rivals there.

Festivities celebrate holiday season in HCM City

HCM City is preparing to launch a series of festivities to celebrate the New Year and Tet holidays (Lunar New Year).

Young driver offers thousands of free rides for poor patients

Dang Xuan Hieu, 24, has for four years given free trips to thousands of poor patients in Ha Giang Province.

Policies take effect in December 2022

Below are among new policies on import and export nomenclature, electricity generation price bracket, and licenses to manufacture tobacco products taking effect from December.

Finance Ministry to raise taxes on land and housing

Taxes on land and housing in Vietnam are far lower than those in other countries, exposing the need for higher tax rates to improve fiscal revenues.

Vietnam, RoK enter new chapter of cooperation

Vietnam and the Republic of Korea have entered a new chapter in their relationship as they upgraded to a comprehensive strategic partnership during President Nguyen Xuan Phuc's official visit to the country.

Free piano class for the elderly in HCM City

A piano class has been run free-of-charge for elderly people in Ho Chi Minh City for the past five years.

Business safety in the digital age

Vietnamese businesses are facing challenges related to cyber security and difficulties adapting to digital transformation.

Tax refunds worth trillions of VND

Tax bodies are working on problems related to VAT refunds in order to help businesses get money to invest in operations, following a dialogue held last week.

Legal loopholes exist for trading forbidden goods

Many students believe that e-cigarettes are not toxic, but are fragrant and stylish.

Quang Ninh to develop night-time economy, awaken tourism

On July 27, 2010, the Prime Minister signed a decision approving Vietnam’s night-time economy development plan.