VCBNeo Ignites Deposit Rate War: Latest Increases Signal Shifting Savings Landscape
Hanoi, Vietnam – October 15, 2025 – In a move signaling a broader trend across Vietnam’s banking sector, VCBNeo has announced significant increases to its deposit interest rates, effective immediately. This breaking news comes as the fifth domestic bank in early October – alongside GPBank, Vikki Bank, Bac A Bank, NCB – to adjust its interest rate framework, intensifying competition for customer deposits. For savers, this is a welcome development, but understanding the nuances of these changes is crucial for maximizing returns. This article is optimized for Google News and SEO to deliver the most up-to-date information quickly.
VCBNeo’s Rate Hike: A Detailed Breakdown
VCBNeo’s adjustments, ranging from 0.25% to 0.3% per annum, are particularly notable for longer-term deposits. The six-month deposit rate now stands at a competitive 5.9% per year, a substantial 0.3 percentage point increase. Twelve-month terms also see a 0.3% jump, reaching 5.8% annually. Deposits locked in for 13 to 60 months benefit from a 0.25% increase, also settling at 5.8% per annum. This means VCBNeo now offers a leading online deposit interest rate of 5.8% for terms ranging from 12 to 60 months – its highest to date.
However, VCBNeo is maintaining its existing rates for shorter-term deposits. Currently, these are:
- 1-2 months: 4.35% per annum
- 3-4 months: 4.55% per annum
- 5 months: 4.7% per annum
- 7 months: 5.6% per annum
- 8 months: 5.4% per annum
- 9-11 months: 5.45% per annum
Interestingly, the bank is also adjusting over-the-counter savings rates. Six-month and 12-month over-the-counter deposits now earn 5.6% per year, while 13- to 60-month terms are at 5.7% annually. This difference between online and in-branch rates highlights a strategic push towards digital banking.
The Broader Context: Why Are Rates Rising?
The recent wave of rate increases isn’t happening in a vacuum. Vietnam’s economy is navigating a complex landscape of global economic pressures and domestic growth targets. Banks are actively seeking to attract deposits to fund lending activities and meet regulatory requirements. The fact that short-term rates remain comparatively lower than long-term rates suggests VCBNeo, and potentially other banks, are incentivizing customers to commit their funds for extended periods. This is a classic tactic used to stabilize funding costs and support longer-term lending initiatives.
Historically, Vietnam’s deposit rates have been sensitive to fluctuations in global interest rates and domestic inflation. While inflation remains relatively controlled, the anticipation of potential future increases, coupled with the need to support economic recovery, is likely driving this current trend. Understanding these macroeconomic factors is key to making informed savings decisions.
Comparing Rates: A Snapshot of the Vietnamese Banking Landscape (October 15, 2025)
Here’s a quick overview of deposit rates across several Vietnamese banks as of today:
| Bank | 1 Month | 3 Months | 6 Months | 9 Months | 12 Months | 18 Months |
|---|---|---|---|---|---|---|
| Agribank | 2.4 | 3 | 3.7 | 3.7 | 4.8 | 4.8 |
| BIDV | 2 | 2.3 | 3.3 | 3.3 | 4.7 | 4.7 |
| Vietin Bank | 2 | 2.3 | 3.3 | 3.3 | 4.7 | 4.7 |
| Vietcombank | 1.6 | 1.9 | 2.9 | 2.9 | 4.6 | 4.6 |
| Avantk | 3.1 | 3.8 | 5.3 | 5.4 | 5.6 | 5.4 |
| ACB | 3.1 | 3.5 | 4.2 | 4.3 | 4.9 | – |
| Invest in a bank | 4.2 | 4.55 | 5.4 | 5.45 | 5.5 | 5.8 |
| Bao Viet Bank | 3.5 | 4.35 | 5.45 | 5.5 | 5.8 | 5.9 |
| BV Bank | 3.95 | 4.15 | 5.15 | 5.3 | 5.6 | 5.9 |
| Export-Import Bank | 4.3 | 4.5 | 4.9 | 4.9 | 5.2 | 5.7 |
| GP Bank | 3.8 | 3.9 | 5.35 | 5.45 | 5.65 | 5.65 |
| HD Bank | 3.85 | 3.95 | 5.3 | 5.3 | 5.6 | 6.1 |
| Kienlong Bank | 3.7 | 3.7 | 5.1 | 5.2 | 5.5 | 5.45 |
| LP Bank | 3.6 | 3.9 | 5.1 | 5.1 | 5.4 | 5.4 |
| MB | 3.5 | 3.8 | 4.4 | 4.4 | 4.9 | 4.9 |
| MBB | 4.1 | 4.4 | 5.5 | 5.6 | 5.8 | 5.9 |
| MSB | 3.9 | 3.9 | 5 | 5 | 5.6 | 5.6 |
| South Bank | 3.8 | 4 | 4.9 | 5.2 | 5.5 | 5.6 |
| NCB | 4.1 | 4.3 | 5.45 | 5.55 | 5.7 | 5.7 |
| OCB | 3.9 | 4.1 | 5 | 5 | 5.1 | 5.2 |
| Fiji Bank | 3.4 | 3.8 | 5 | 4.9 | 5.4 | 5.8 |
| PVCOMBANK | 3.3 | 3.6 | 4.5 | 4.7 | 5.1 | 5.8 |
| Sacom Bank | 3.6 | 3.9 | 4.8 | 4.8 | 5.3 | 5.5 |
| Saigon Bank | 3.3 | 3.6 | 4.8 | 4.9 | 5.6 | 5.8 |
| SCB | 1.6 | 1.9 | 2.9 | 2.9 | 3.7 | 3.9 |
| Seabank | 2.95 | 3.45 | 3.95 | 4.15 | 4.7 | 5.45 |
| SHB | 3.5 | 3.8 | 4.9 | 5 | 5.3 | 5.5 |
| Techcom Bank | 3.45 | 4.25 | 5.15 | 4.65 | 5.35 | 4.85 |
| TP Bank | 3.7 | 4 | 4.9 | 5 | 5.3 | 5.6 |
| VCBNEO | 4.35 | 4.55 | 5.9 | 5.45 | 5.8 | 5.8 |
| baboon | 3.7 | 3.8 | 4.7 | 4.7 | 4.9 | 5.2 |
| VietA Bank | 3.7 | 4 | 5.1 | 5.3 | 5.6 | 5.8 |
| Vietbank | 4.1 | 4.4 | 5.4 | 5.4 | 5.8 | 5.9 |
| Vicky Banks | 4.35 | 4.45 | 6 | 6 | 6.2 | 6.2 |
| VP Bank | 4 | 4.1 | 5 | 5 | 5.2 | 5.2 |
Source: vietnamnet.vn
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