Meanwhile, at commercial banks, VND mobilization interest rates are stable, with savings interest rates of about 3%/year (short term) and 4-5%/year (medium and long term).
On the interbank market, on July 3, overnight interest rates decreased by 0.95% to 3.91%/year; 1-week term also decreased by 0.82% to 4.03%; 2-week term decreased by 0.89% to 4.19%/year; 1-month term decreased by 1.1% to 3.82%/year; 3-month term decreased by 0.5% to 4.5%/year.
However, earlier in the week (June 30), interest rates on the interbank market suddenly increased "dramatically" at all terms, of which, overnight interest rates increased to 6.45%/year, nearly 4 times higher than the previous bottom (1.62%), marking the strongest increase since the beginning of the year.
Also in the session on June 30, the State Bank injected large-scale money into the market, up to VND52,904.4 billion, to relieve short-term capital shortage pressure.
In the open market last week, in the mortgage channel, the State Bank offered 7-day, 14-day and 91-day terms at 4% interest rate. There were 62,424.19 billion VND in winning bids; 58,132.86 billion VND matured last week in the mortgage channel.
In addition, the State Bank also bid for 7-day treasury bills, winning 17,400 billion VND with an interest rate of 3.5%; 22,500 billion VND of treasury bills matured last week.
Thus, the State Bank injected a net VND9,391.33 billion through the open market channel. There were VND94,609.61 billion circulating on the mortgage channel, and VND17,400 billion of State Bank bills circulating on the market.
Surveying the deposit interest rate table in early July, posted on the websites of banks (including the group of state-owned banks such as Vietnam Bank for Agriculture and Rural Development ( Agribank ), Vietnam Joint Stock Commercial Bank for Foreign Trade (Vietcombank), Vietnam Joint Stock Commercial Bank for Investment and Development (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), or the group of joint stock banks such as Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Military Commercial Joint Stock Bank), it can be seen that the deposit interest rate level is quite stable at terms of 6, 9, 12, 24 months. Only a few banks adjusted the deposit interest rate, but the change was not large.
specifically, for the group of state-owned commercial banks, the mobilization interest rate ranges from 1.6%/year to 4.8%/year for the form of interest payment at the end of the term, applied at the counter for individual customers, with a term of 1-36 months.
Of which, Vietcombank mobilizes terms of 6 and 9 months at 2.9%/year; 12 months at 4.6%/year; 24 months and above at 4.7%/year. The mobilization interest rate of 4.7%/year is also the highest mobilization interest rate currently applied by Vietcombank for terms of 12 months and above.
As for BIDV , the interest rate for 6 and 9 month terms is 3%/year; 12 months 4.7%/year; 24 months 4.8%/year. Or VietinBank applies the interest rate for 6 and 9 month terms as 3%/year; 12 months 4.7%/year; 24 months 4.8%/year.
In the group of joint stock banks, some banks have reduced interest rates such as National Commercial Joint Stock Bank (NCB) reducing 0.1%/year interest rate for traditional savings products and "An Khang" deposits with terms of 18 months, 24 months and 84 months, with interest payment method of 6 months.
However, this bank increased the interest rate by 1% for customers participating in the "An Phat Loc" deposit certificate, up to 6.3%, although the highest mark on the deposit interest rate list at NCB's counter is 5.3%/year.
In addition to NCB, a number of other banks also increased interest rates, including: Loc Phat Commercial Joint Stock Bank (LPBank), Bac A Commercial Joint Stock Bank (Bac A Bank), Vietnam Prosperity Joint Stock Commercial Bank (VPBank), Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)...
According to the new schedule, only 3 banks listed interest rates of 6%/year or higher, including: Bac A Bank listed interest rates of 6.1%/year for term deposits from 18-36 months, interest received at the end of the term, deposits over 1 billion VND. HDBank mobilized at the counter for a term of 18 months, interest received at the end of the term is 6%/year. Digital bank Vikki Bank applied an online deposit interest rate of 6%/year for term deposits of 13 months or higher.
Experts predict that input interest rates will gradually increase towards the end of the year, in which, 12-month deposit interest rates of major banks will fluctuate around 5.5% - 6% in 2025.
Source: https://hanoimoi.vn/lai-suat-lien-ngan-hang-giam-lai-suat-tiet-kiem-on-dinh-708129.html
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