Latest bank interest rates: Actual deposit rates could reach up to 9.6% annually; lending rates hard to deeply reduce
WVR - Deposit interest rates are trending upwards across various terms, while lending rates are difficult to significantly reduce due to high input mobilization costs.
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| Which bank offers the highest interest rate? (Source: Zing) |
Accordingly, the highest publicly listed mobilization interest rate on the market is currently below 8% annually. However, with additional incentives or promotions, the actual received interest rate could reach up to 9.6% annually for deposits ranging from 50 to 500 million VND, with a 12-month term.
Notably, the digital bank Cake by VPBank is implementing a program for customers opening a savings account for the first time, with a listed interest rate of 7.2% annually for terms of 6-9 months and 7.4% annually for terms of 10-24 months. Adding an incentive of 2.2% annually from September 22 to October 31, the highest actual rate at this bank could reach 9.6% annually.
Bac A Bank offers a special interest rate of 7.3% annually for individual customers depositing from 50 billion VND for a 12-month term, which is 0.2 percentage points higher than the usual rate.
The interest rate level for 6-12 month terms at many banks has exceeded 7% annually. Asia Commercial Bank (ACB) lists a maximum of 7.8% annually; Sacombank offers 7.5% annually for a 12-month term; LPBank and Saigonbank both offer 7.2%...
For a 12-month term, OCB, PGBank, and VIB all offer a rate of 7% annually.
Meanwhile, the group of state-owned commercial banks, including Agribank, BIDV, Vietcombank, and VietinBank, have lower mobilization interest rates, around 6.6% annually for 6-9 month terms and 6.8% annually for 12-18 month terms.
On the lending side, interest rates at the above four banks currently range from 9-10.5% annually, while some other joint-stock commercial banks may reach 11-13% annually, depending on the purpose, loan term, collateral, and credit history.
According to the latest data from the State Bank, the average lending interest rate in August was 10.7% annually, an increase of 0.2 percentage points compared to July and about 3 percentage points higher than loans disbursed a year ago.
Nevertheless, banks are still implementing many preferential credit packages. For example, BIDV offers a 200 trillion VND credit package for business production or a home loan program with an initial preferential interest rate from 5% annually.
The Economic and Financial Market Analysis Department of Techcombank stated that the room for a deep reduction in mobilization interest rates is currently limited due to inflationary pressures and the high demand for capital for infrastructure investment and large-scale projects.
However, there are still some factors that help mitigate the risk of a sharp increase in interest rates.
Public investment disbursement is expected to accelerate in the final months of the year, thereby adding liquidity to the economy.
In fact, the cumulative VND mobilization growth from the end of 2025 to August 22, 2026, reached 8.77%, surpassing the credit growth of 8.38%, indicating that part of the funds injected through public investment activities may be returning to the banking system.
Additionally, the State Bank can still use liquidity support tools such as increasing the scale of capital injection through open market operations (OMO) or extending the support term. On this basis, Techcombank maintains its forecast that mobilization interest rates will primarily remain stable from now until the end of the year.
In a more positive scenario, the State Bank purchasing more foreign currency to supplement reserves when the exchange rate is low could create additional VND supply, support liquidity, and open room for interest rate reductions.
