Latest forecast on savings deposit interest rates after the April 30th holiday.

(NLĐO) – Savings interest rates have uniformly decreased following the State Bank of Vietnam's meeting, but a significant reduction is unlikely due to continued high pressure to raise capital.

The updated report on banking industry business results for 2026, recently published by S&I Credit Rating Joint Stock Company (SNI), highlighted key points from this year's shareholder meetings and business plans of commercial banks.

Notably, among the issues discussed at the annual shareholders' meetings of the banking sector, rising interest rates and tight liquidity were the biggest concerns. According to SNI, although there are expectations that deposit interest rates will cool down after the meeting between the Governor of the State Bank of Vietnam and banks in early April 2026, the pressure to mobilize deposits remains, limiting the possibility of a sharp reduction in interest rates in the short term.

Responding to shareholders at the recent general meeting, Mr. Nguyen Duc Vinh, General Director of VPBank , stated that the high deposit interest rates of banks in the first quarter of 2026 across all maturities were mainly due to the relatively tight liquidity situation in the market.

In addition, other factors include high credit growth; and some new regulations coming into effect in bank governance, such as regulations on mandatory reserve ratios. The trend of high deposit interest rates will continue for some time, possibly gradually decreasing in the second or early third quarter of 2026.

Deposit interest rates are not expected to cool down significantly after the April 30th holiday.

At VPBank, deposit interest rates increased as the bank set high credit growth targets. However, recently, VPBank has reduced deposit interest rates for some maturities, and is expected to continue reducing them depending on market developments in the coming period.

"With the measures taken by the State Bank of Vietnam and the concerted efforts of banks, the upward trend in deposit interest rates will stop. Interest rates may remain stable for a period, then gradually decrease, thereby creating conditions to reduce lending interest rates and support the economy ," Mr. Vinh commented.

Speaking with a reporter from Nguoi Lao Dong newspaper, Mr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banking Association (VNBA), also stated that deposit interest rates are cooling down, but a significant reduction is very difficult in the current context.

"Bank interest rates are competing to attract idle funds from other channels such as gold, stocks, and real estate. If deposit interest rates fall too sharply, people will not choose to deposit savings, and in reality, banks' capital mobilization is also increasing more slowly than the rate of credit growth," Mr. Nguyen Quoc Hung observed.

Fluctuations in average deposit interest rates over the past period. Source: VCBS

In their latest forecast, experts at Vietcombank Securities Company (VCBS) believe that deposit interest rates will remain stable and are unlikely to increase further, thanks to the decisive direction from the State Bank of Vietnam to support the economy and ensure macroeconomic stability.

Nevertheless, VCBS believes that pressure to raise capital still exists on the banking system, due to the strong increase in demand for medium and long-term capital as many large-scale infrastructure projects are implemented. Credit growth has been higher than deposit growth for a relatively long time, causing the loan-to-deposit ratio (LDR) of many banks to remain high.

Furthermore, increased exchange rate pressure amid escalating geopolitical risks and the US delaying interest rate easing necessitates maintaining a reasonable VND-USD interest rate differential to stabilize capital flows and the exchange rate.

Updated figures from the State Bank of Vietnam show that following the April 9th ​​meeting chaired by the Governor, 42 banks have adjusted their listed deposit interest rates downwards, with reductions of approximately 0.1-0.5 percentage points per year, mainly for terms of 6 months or more.

Source: https://nld.com.vn/du-bao-moi-nhat-ve-lai-suat-gui-tiet-kiem-sau-le-30-4-196260501153809618.htm