The State Bank of Vietnam (SBV) said: Since the beginning of the year, deposit interest rates of commercial banks have remained relatively stable.
Specifically, since the beginning of July, a number of commercial banks have reduced interest rates, of which Bac A Bank reduced 0.1% for all terms and types of deposits; VIB reduced 0.1%/year for 36-month term deposits at the counter for amounts from VND 1 billion to under VND 5 billion; Bao Viet adjusted to reduce 0.15-0.2%/year for terms of 6-13 months.
Previously, many other banks also made similar moves. Loc Phat reduced 0.2%/year for 18-60 month terms with online deposits. Quoc Dan reduced 0.1%/year depending on each term, to ensure competitiveness in capital mobilization. These adjustments are said to balance capital costs, while creating conditions for reducing lending interest rates in the coming time.
According to the Big 4 market survey, the online savings interest rate table for individual customers announced by Agribank currently records specific levels. For a term of 1-2 months, the interest rate is 2.4%/year; for a term of 3-5 months, it is 3%/year; for a term of 6-11 months, it is 3.7%/year; for a term of 12-18 months, it is 4.8%/year. Notably, the highest interest rate when depositing online at Agribank is 4.9%/year, applied for a term of 24 months.
Compared to other banks in the Big 4 group, Agribank's online deposit interest rates are higher for terms from 1-18 months. However, Agribank's 24-month term interest rate is equal to BIDV's (4.9%/year), lower than VietinBank's 5%/year, and higher than Vietcombank's 4.7%/year. This difference reflects each bank's own strategy in balancing capital flows and attracting customers.
Along with the adjustment of deposit interest rates, lending interest rates in the market continued to decrease. According to the State Bank of Vietnam, the new average lending interest rate is currently at 6.23%/year, down 0.7%/year compared to the end of 2024. This downward trend contributes to supporting businesses and individuals to develop production and business, creating conditions to promote economic growth in the context of the market needing flexible financial resources.
In fact, maintaining stable deposit interest rates while reducing lending interest rates shows the banking system’s efforts to balance the interests of depositors and borrowers. This helps ensure the ability to mobilize capital while creating a favorable environment to support the economy, especially small and medium-sized enterprises that need reasonable capital costs to maintain operations.
Mr. Minh
Source: https://baochinhphu.vn/nhnn-lai-suat-tien-gui-duy-tri-on-dinh-cho-vay-tiep-tuc-giam-102250722141834022.htm
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