ACB Bank suddenly hikes interest rates
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©Reuters According to Lanya
Investing.com – On January 2, Asia Commercial Bank (HM:) bucked the downward trend in interest rates and raised the interest rate on some online deposits by as much as 0.3 percentage points.
Therefore, for 1-month and 3-month terms, the interest rate increases by 0.3 percentage points, reaching 2.9%/year and 3.2%/year respectively. At the same time, ACB still maintained the 9-month interest rate unchanged from the last adjustment.
With a tenor of nine months, the bank raised the deposit rate by 0.1 percentage points to 4.2% per year. Similarly, the 12-month interest rate was also raised to 4.8%/year, an increase of 0.1 percentage points from the previous adjustment period. The above interest rates are applicable to deposits below 200 million.
At the above-mentioned base level, if a customer deposits VND200 to VND1 billion, the customer will receive an additional 0.1 percentage point interest rate under all terms. For balances between VND 1 billion and VND 5 billion, the interest rate will increase by 0.15 percentage points. For deposits worth more than 5 billion VND, ACB will enjoy a preferential interest rate that is 0.2 percentage points higher than the original rate.
Therefore, the highest interest rate that customers can receive when depositing online with ACB is 5%/year with balances exceeding VND 5 billion. If you deposit over the counter, the highest interest rate is only 4.6%/year. Despite the increase, ACB 12-month rates remain lower than most members of the Big4 group.
The online deposit interest rate table recorded by ACB Bank on the morning of January 3, 2024.
