BIDV Raises Online Deposit Rates to 7.4%, Highest Among Big 4

Overview

BIDV (HOSE: BID) has increased its online deposit rates for tenors of 6 months and above to 7.2-7.4% per annum, with the 12-month rate rising 0.6 percentage points to 7.4%. This makes BIDV’s online rates the highest among the Big 4 state-owned banks, a significant shift given its previous 1-3% discount to private banks.

Key Facts

• Online deposit rates for tenors from 6 months up to 11 months set at 7.2% per annum.
• 12-month online deposit rate raised to 7.4%, up 0.6 percentage points month-on-month.
• Rates for deposits under 6 months remain unchanged at 4.75% per annum, at the SBV cap.
• Over-the-counter rates remain unchanged: 2.1-3.5% for under 6 months, 5.9-6% for 6 months and above.
• As of end-June, BIDV’s customer loans reached over VND 2.5 quadrillion, up 5.43% YTD.
• Customer deposits grew only 1.74% YTD to nearly VND 2.26 quadrillion.
• Outstanding valuable papers (mainly certificates of deposit) reached nearly VND 301,700 billion, up 34% YTD.

What Happened

BIDV (Bank for Investment and Development of Vietnam) has adjusted its online savings interest rate schedule, raising rates for tenors of 6 months and above. According to the bank’s updated schedule, customers depositing from VND 10 million online will receive 7.2% per annum for most tenors from 6 months upward, while the 12-month tenor offers 7.4%, an increase of 0.6 percentage points from the previous month.

This move positions BIDV’s online rates as the highest among the Big 4 state-owned banks (Vietcombank, VietinBank, BIDV, Agribank). Previously, BIDV’s rates were typically 1-3% lower than private banks, but now they are among the highest in the system. The highest market rate is around 7.9% for 13-month deposits, with some banks offering up to 9% for large deposits through staff referral codes.

The rate hike comes as BIDV’s deposit growth lags credit growth. As of end-June, loans increased 5.43% YTD, while deposits rose only 1.74%. To bridge the gap, BIDV has also boosted issuance of valuable papers, particularly certificates of deposit, which surged 34% YTD.

Market Context

BIDV shares closed at VND 38,000 on August 4, 2026. The bank is listed on HOSE and is one of the largest listed banks by assets. The rate hike reflects intensifying competition for deposits across the Vietnamese banking sector, as credit demand outpaces deposit mobilization. This trend is pressuring net interest margins (NIM) for banks, as funding costs rise. BIDV’s move may prompt other banks to follow, potentially escalating the deposit rate war.

Strategic Significance

For long-term investors, BIDV’s aggressive deposit rate hike signals a strategic priority on maintaining liquidity and funding growth to support credit expansion. The bank’s loan-to-deposit ratio is under pressure, and the reliance on higher-cost certificates of deposit could compress NIM in the near term. However, if BIDV can sustain credit growth while managing funding costs, it may strengthen its market position. The rate hike also reflects broader sector dynamics, where state-owned banks are competing more aggressively for deposits, potentially reshaping the competitive landscape.

What to Watch

• BIDV’s Q3 2026 earnings release for NIM and funding cost trends.
• Any further rate adjustments by BIDV or peers in response to liquidity conditions.
• SBV policy moves on interest rates or reserve requirements.
• BIDV’s deposit growth in Q3 to see if the rate hike accelerates mobilization.
• Credit growth data for the banking sector to gauge demand sustainability.