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Agribank, the Vietnam Bank for Agriculture and Rural Development, has updated its deposit interest rate schedule for April 2026, recording a clear downward trend in medium- and long-term tenors. Notably, the highest rate at the bank is currently only 6.0% per year, lower than before. Under the new schedule, the short-term tenors remain unchanged. Specifically, non-term deposits and demand deposits stay at 0.2% per year; the 1–2 month tenors are at 2.6% per year; while the 3–5 month tenors remain at 2.9% per year. Tenors from 6–11 months are listed at 4.0% per year, while those for 12–18 months are 5.9% per year. The 24-month tenor – the tenor with the highest rate at Agribank – has been reduced by 0.5 percentage point to 6.0% per year. Thus, compared with the previous schedule, Agribank’s deposit rates have been lowered at the 24-month tenor. However, this remains the highest deposit rate among the bank’s tenors. Counter deposit rate chart The move to ease rates by Agribank was issued immediately after the governor’s meeting with commercial banks on April 9. As the bank that receives the most deposits from the public, the move to lower deposit rates is expected to ease the system-wide deposit rate level. According to the State Bank of Vietnam, since the meeting, the trend of deposit-rate reductions has spread across the system with as many as 29 commercial banks cutting rates, many institutions cutting deeply and even cutting multiple times in a short period. Lowering the deposit-rate level is expected to create room to reduce lending rates, helping people and businesses access capital at lower costs in the near term.
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