Deposit rates surge after central bank raises rate ceiling
A slew of small- and medium-size commercial banks have hiked their deposit interest rates by 0.3-1 percentage points after the State Bank of Vietnam raised the deposit rate ceiling Friday.
Per the central bank's decision, the deposit rate ceiling for term deposits from one month to less than six months has increased by 1 percentage point to 5% per year. For demand deposits and those with terms of less than 1 month, the rate ceiling has risen from 0.2% to 0.5% per year.

Broker VNDirect predicted deposit interest rates would continue going up in 2023. Photo courtesy of The Investor/Trong Hieu.
The State Bank made the move after the Federal Reserve (Fed) for the third time in a row had raised the benchmark interest rate by 75 percentage points to tame inflation in the U.S.
The deposit rate ceiling hike allows banks in need of capital to pay higher deposit rates to encourage depositors. That also means lending rates might increase in tandem.
Asia Commercial Bank (ACB) announced Friday new rates for term deposits from one month to three months at a maximum 4.4% per year, up 0.4 percentage points. The bank also raised the rate for term deposits of 36 months to 6.9% per year.
Saigon-Hanoi Bank (SHB) raised the rate for term deposits from one month to six months by 0.8-0.9 percentage points to 4.6-4.9%.
The rates for longer-term deposits have also gone up by 0.4-0.5 percentage points. The bank's rate for 36-month term deposits is now at 7.1%.
KienLongBank (KLB) set the new deposit rate for term deposits of between one and six months at a maximum 5% and the figure for 36-month term deposits is 6.95%.
Similar to KLB, Viet Capital Bank (BVB) set 5% interest rate for term deposits of between one and six months. For term deposits of 12 months or more, the highest interest rate is 7.3%.
However, major banks like Vietcombank, BIDV, VietinBank - those with the state as majority shareholder, and leading private lenders like VPBank and Techcombank have yet to raise their deposit interest rates.
Vietcombank and BIDV set their rates for term deposits between one and three months at 3.1-3.4%, six months at 4%, and 12-36 months at 5.6%.
VPBank’s rates for term deposits between one and three months are 3.2-3.6%, six months 5.2%, and 36 months 5.8%.
VNDirect Securities anticipated deposit interest rates may climb by 0.3-0.5 percentage points in the last months of the year from the old levels recorded before the State Bank changed its regulatory interest rates.
Accordingly, the average interest rate for 12-month term deposits at commercial banks might hit 6.1-6.3% by the end of the year, which is still lower than the pre-pandemic 7% rate per year, according to the broker.
VNDirect expected the deposit rate would continue going up in 2023, as the State Bank would raise its regulatory interest rate to rein in inflation and stabilize the exchange rate while commercial banks need more capital for lending activities amid robust economic recovery.
It predicted deposit interest rates may increase by 0.5 percentage points next year, and the rate for 12-month term deposits would rise to 6.6-6.8% per year by the end of 2023, still below the pre-pandemic 7% per year.
- Read More
Vietnamese banks leverage national data integration to reach customers
Banks in Vietnam are developing fully digital lending services, enabling customers to apply for and receive loans entirely through online platforms.
Banking - Mon, June 9, 2025 | 11:28 pm GMT+7
Vietnam’s garment-textile exports top $17 bln in five months
Vietnam’s garment and textile exports exceeded $17.58 billion in the first five months of 2025, up 9% year-on-year.
Companies - Mon, June 9, 2025 | 11:21 pm GMT+7
Vietnam's coastal hospitality real estate poised for a new wave of growth
As competition intensifies and the tourism sector rapidly evolves post-pandemic, hospitality real estate investors and hotel operators are adopting more innovative approaches to optimize operations and tap into new revenue streams, write Avison Young Vietnam analysts.
Consulting - Mon, June 9, 2025 | 11:01 pm GMT+7
Rules on private placement bond issuance should be tightened: Vietnam Finance Minister
Allowing only companies that have liabilities five times higher than their equity at maximum to issue bonds via private placement is a necessary move to mitigate risks and prevent abuse, said Finance Minister Nguyen Van Thang.
Finance - Mon, June 9, 2025 | 6:19 pm GMT+7
EV maker VinFast commits to purchasing all output for Vietnamese suppliers
Vietnamese electric vehicle maker VinFast has committed to purchasing all products for domestic suppliers that join its production chain.
Companies - Mon, June 9, 2025 | 5:21 pm GMT+7
Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project
The official launch of the La Pura project by Phat Dat Real Estate Development Corp on Sunday in the southern province of Binh Duong made a significant impact, with over 95% of the total inventory in the Zenia sub-zone successfully transacted.
Real Estate - Mon, June 9, 2025 | 4:07 pm GMT+7
Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks
Minister of Public Security Luong Tam Quang called on South Korean tech giant Samsung to strengthen its partnership with his ministry in developing Vietnam’s security industry.
Investing - Mon, June 9, 2025 | 3:13 pm GMT+7
Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure
Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.
Companies - Mon, June 9, 2025 | 11:48 am GMT+7
Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May
Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.
Finance - Mon, June 9, 2025 | 11:43 am GMT+7
Fund manager Eastspring Vietnam appoints new CEO
Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.
Finance - Mon, June 9, 2025 | 9:03 am GMT+7
US issues preliminary decision on anti-dumping tariffs for Vietnamese shrimp
The US Department of Commerce (DOC) in the early morning of June 7 released preliminary results of its 19th administrative review (POR19) on anti-dumping duties for frozen warmwater shrimp imported from Vietnam.
Companies - Sun, June 8, 2025 | 8:30 pm GMT+7
U.S. Grains Council signs 5-year cooperation deal with Vietnam
The U.S. Grains Council (USGC) on Friday signed a five-year cooperation agreement with the Partnership for Sustainable Agriculture in Vietnam (PSAV), reaffirming its long-term commitment to Vietnam’s agricultural development.
Economy - Sun, June 8, 2025 | 5:13 pm GMT+7
Bamboo Capital announces senior personnel changes
Under a board of directors resolution effective last Friday, Vietnam's multi-sector conglomerate Bamboo Capital Group has a new deputy general director, while its first vice chairman Pham Minh Tuan resigned to focus on subsidiary Bamboo Energy.
Companies - Sun, June 8, 2025 | 4:05 pm GMT+7
Vietnam signs deals to import nearly $3 bln worth of US agricultural products
Vietnamese businesses accompanying Minister of Agriculture and Environment Do Duc Duy on a six-day visit to the U.S. signed multiple agreements to import nearly $3 billion worth of American agricultural products, expanding bilateral cooperation in the agricultural sector.
Economy - Sun, June 8, 2025 | 10:33 am GMT+7
EPC contract signed for O Mon IV thermal power project in southern Vietnam
An EPC contract signing ceremony for the O Mon IV thermal power project in Can Tho city took place on Friday, at the headquarters of state-owned Petrovietnam - the investor.
Energy - Sun, June 8, 2025 | 8:00 am GMT+7
Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production
After overcoming two major obstacles - debt and accumulated losses - Vietnam's agri major Hoang Anh Gia Lai JSC (HoSE: HAG) is charting a bold five-year strategic roadmap, introducing two new business segments: mulberry cultivation and coffee-tea production.
Companies - Sat, June 7, 2025 | 4:35 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?