Interest rates do not fluctuate much.

According to the latest survey by Hanoi Moi Newspaper reporters, the mobilization interest rates of the Big4 group (including 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 and Vietnam Joint Stock Commercial Bank for Industry and Trade - VietinBank) fluctuate between 1.6 - 4.8%/year for the form of interest payment at the end of the term, applied at the counter for individual customers with terms of 1-36 months.

Transaction at a Vietcombank transaction point.

Agribank continues to be the bank with the highest savings interest rate in the Big4 group for all short and medium terms, of which the interest rate is 2.1%/year for a term of 1-2 months, the remaining banks keep it at 1.6%/year. For a term of 3-5 months, the interest rate at Agribank is 2.4%/year; VietinBank, Vietcombank, BIDV : 1.9%/year. For a term of 6-11 months, Agribank: 3.5%/year; the remaining 3 banks: 2.9-3%/year. However, for a term of 12 months, Vietcombank applies an interest rate of 4.6%/year, lower than the 4.7%/year at Agribank, VietinBank, BIDV; and for a term of 24 months or more, Vietcombank: 4.7%/year, while BIDV, VietinBank and Agribank: 4.8%/year.

For the commercial bank group, Vikki Bank Digital Bank applies an interest rate of 7.5%/year for term deposits of 13 months or more, with a minimum amount of VND 999 billion; LPBank applies an end-of-term interest rate of 6.5%/year, monthly interest of 6.3%/year and initial interest of 6.07%/year for deposits of VND 300 billion or more.

Vice Chairman and General Secretary of the Banking Association Nguyen Quoc Hung said that reducing lending interest rates is necessary to serve the goal of economic growth. However, in the context of difficult to reduce deposit interest rates further, balancing liquidity will be a big challenge for banks.

Experts from KB Securities Vietnam (KBSV) also share the same opinion that currently, commercial banks are not under much pressure to increase deposit interest rates to compete for capital sources, contributing to maintaining a stable interest rate level at a low level, in line with the current monetary policy orientation to support growth. However, in the long term, the uncertainty of the US tariff policy creates pressure on the State Bank's policy management. It is forecasted that in the coming time, deposit interest rates may increase by 1-2%/year, lending interest rates increase slightly and slower than deposit interest rates (0.5-1%).

Source: https://hanoimoi.vn/lai-suat-khong-co-nhieu-bien-dong-703436.html