Which Bank Offers the Highest Savings Interest Rates? [May 2025]

Comparing the latest loan interest rates among top banks in 2025. Which bank offers the highest savings interest rates? What are the interest rate trends?

Do you have a sum of money you wish to deposit for savings but are unsure which bank offers the most attractive interest rates? Below is a list of banks currently offering the highest savings interest rates across various tenors: 3 months, 6 months, 12 months, and 24 months. Join VPBank as we explore which bank provides the leading savings interest rates today (article updated continuously).

Latest Bank Interest Rates

1. Savings Interest Rate Comparison - May 2025: Which Bank Offers the Highest Rates?

Currently, bank interest rates are trending downwards compared to previous periods, with many domestic commercial banks reducing deposit interest rates by 0.1 - 1.05% per annum. Additionally, smaller joint-stock commercial banks typically offer higher interest rates than larger state-owned commercial banks.

1.1. Which Bank Offers the Highest Interest Rate (at 9.65%)

According to our survey, ABBank offers the highest savings interest rate, with a special rate of up to 9.65% per annum for new or renewed deposits with a 13-month tenor, applicable for minimum deposits of VND 1,500 billion or more.

PVcomBank ranks second, offering a 9.0% interest rate for a 12-month tenor, conditional on a minimum deposit of VND 2,000 billion.

Third is HDBank, with an interest rate of 7.7% for a 12-month tenor and 8.1% for a 13-month tenor, subject to maintaining a minimum balance of VND 500 billion. Furthermore, HDBank also applies a 6% interest rate for an 18-month tenor.

Other banks offering competitive rates include:

• Vikki Bank: Up to 7.5% per annum for tenors of 13 months or longer, with a minimum deposit of VND 999 billion.
• Bac A Bank: 6.1% per annum for 18-36 month tenors, applicable for deposits over VND 1 billion.
• IVB (Indovina Bank): 6.15% per annum for a 36-month tenor, conditional on deposits of VND 1,500 billion or more.
• LPBank: 6.5% per annum for 13-36 month tenors, applicable for deposits from VND 300 billion or more, with interest paid at maturity; 6.3% per annum for monthly interest payments; and 6.07% per annum for upfront interest payments.

Thus, ABBank currently leads in offering the highest savings interest rates, followed by PVcomBank, HDBank, and several other banks. However, to qualify for these preferential rates, customers typically need to meet high minimum deposit requirements.

Savings Interest Rate Table - May 2025 (%)

 Source: Lao Dong Newspaper

For short-term savings products with a 3-month tenor, Cake by VPBank offers the highest interest rate at 4.5%. Following closely are banks such as VietBank, BAOVIET Bank, VCBNeo, IVB, NCB, BAC A BANK, Vikki Bank, BVBank, Eximbank, MBV, MSB, and OCB, all with rates exceeding 4.0%.

For the 6-month tenor, Cake by VPBank continues to lead with the highest interest rate of 5.9%. This is followed by VCBNeo, GPBank, MBV, BAOVIET Bank, ABBank, VietBank, NCB, among others, with rates exceeding 5.3%.

For the 12-month tenor, PVcomBank leads with a 9.0% interest rate, and Cake by VPBank continues to lead for the 24-month tenor with a 6.3% interest rate.

Vietnam Prosperity Joint-Stock Commercial Bank - VPBank currently offers stable and attractive interest rates. For short-term 3-month tenors, the rate is 4%; for 6-month tenors, it is 5.0%; for 12-month tenors, it is 5.5%; and for 24-month tenors, it is 5.6%. (Updated on May 5, 2025)

The table above presents the savings interest rates from several banks. We hope this information helps address customer inquiries regarding "Which bank offers the highest savings interest rates?"

2. VPBank Savings Interest Rates (May 2025)

Customers can view the complete VPBank savings interest rate table via the link below:

Biểu lãi suất huy động vốn dành cho khách hàng cá nhân (áp dụng từ ngày 03/12/2024)

Counter Deposits

Online Deposits

3.  What is Bank Savings Interest Rate?

Bank savings interest rate is the interest rate paid by banks to individuals and organizations holding deposits with them. The interest rate customers receive varies depending on the deposit product type, deposit amount, and tenor.

Deposit interest rates serve as a basis for customers to compare between banks, enabling them to choose the financial institution that offers the highest returns on their savings.

Currently, there are two common methods for calculating deposit interest: demand deposit interest and term deposit interest. Additionally, VPBank applies compound interest calculation for its Easy Saving installment savings product.

Compound Interest Offers Significant Advantages

Compound interest is calculated on a new savings amount, which includes the principal deposit and the accumulated interest from that deposit. This method indirectly increases the principal savings amount, thereby allowing customers to earn greater returns.

Example: If you have a savings deposit of VND 100 million at VPBank with a compound interest rate of 7% per annum, then:

Your total amount after 1 year will be: 100 7% = VND 107 million.
Your total amount after 2 years will be: 107 7% = VND 114.49 million.

Thus, in the first year, you earn interest only on your initial principal of VND 100 million. However, in the second year, the amount earning interest includes your original VND 100 million plus the VND 7 million in interest generated from the initial principal.

Evidently, the longer the compounding period, the greater the benefits customers receive from the power of compound interest.

4. How to Calculate Different Types of Bank Savings Interest Rates

Bank savings interest rates can be calculated based on the deposit tenor or currency type. Below are detailed calculation methods for your reference.

4.1  Interest Calculation by Tenor

Interest Earned = Deposit Amount x Interest Rate (%/annum) x Number of Actual Deposit Days / 365

• Term Deposit Interest: Customer interest can be calculated monthly or daily. The specific calculation methods are as follows:
• Monthly Calculation: Total Interest Earned = Principal Amount x Savings Interest Rate (per annum) / 12 Months x Number of Deposit Months
• Daily Calculation: Total Interest Earned = Principal Amount x Savings Interest Rate (per annum) / 360 Days x Number of Deposit Days

Compound Interest Formula:

Where:

• A: Future value of the investment/loan, including interest.
• P: Initial principal amount.
• r: Annual nominal interest rate (as a decimal).
• n: Number of times the interest is compounded per year.
• t: Number of years the money is invested/borrowed.

With the above interest formula, the interest generated each year will be equal to the final amount minus the initial principal. The specific formula for interest earned (I) is as follows:

An example of calculating interest earned from compound interest is as follows:

Savings principal is VND 100 million, annual interest rate is 6.9%, compounding period is 3 months. Thus, the amount earned after 6 years is calculated as follows:

Given P = 100,000,000, r = 0.069 (6.9%), n = 4, and t = 6

Therefore, A = 100,000,000 x (1 + 0.069/4)^(6 x 4) = VND 150,752,600

The interest generated is calculated as follows: I = 150,752,600 - 100,000,000 = VND 50,752,600

4.2  Interest Calculation by Currency Type

The above formulas apply to both VND and USD deposits. However, the deposit results will differ due to the varying interest rates for each currency type.

For example, interest earned from a USD savings account is as follows:

You have a savings deposit of USD 25,000. The highest bank interest rate is 1% per annum, with tenors ranging from 1 month to 60 months. The USD exchange rate is VND 21,458.

Thus, the interest at maturity after 1 year will be: USD 25,000 1% / 12 12 = USD 250. Assuming the exchange rate increases by 1% to VND 21,672 at maturity, the interest earned will be USD 250 * 21,672 = VND 5,418,000.

With an equivalent amount of USD 25,000, but converted to Vietnamese Dong, the interest you would earn after 1 year would be: VND 250,000 21,458 7% / 12 * 12 = VND 38 million. (Note: There appears to be a discrepancy in the principal amount used in the Vietnamese Dong calculation in the original text.)

5. Which Bank Offers the Highest 6-Month Savings Interest Rate Currently?

Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) is among the banks offering the highest 6-month savings interest rates today. VPBank's interest rates are consistently regarded as highly competitive in the market, ensuring optimal benefits for depositors.

See more: Top 10 safest, most reputable banks for savings with the best preferential interest rates

In addition to traditional over-the-counter savings, VPBank offers customers online savings products with outstanding preferential features such as:

• Online savings where customers can visit any transaction counter to print a Confirmation of Balance with the bank's seal and signature.
• Customers can easily transfer ownership of online savings books via VPBank NEO, quickly and conveniently from home.
• Partial early withdrawal of funds, with the remaining balance retaining the originally agreed interest rate.

The latest interest rates for May 2025 across all banks are currently highly attractive. Customers can explore savings products with many preferential interest rates. Vietnam Prosperity Joint-Stock Commercial Bank - VPBank, is a leading joint-stock commercial bank in Vietnam. Should you have any inquiries regarding VPBank's savings interest rates, please do not hesitate to contact our hotline: 1900 5454 15 for consultation.