Deposit interest rates decrease, how is capital mobilized at banks?

According to the State Bank of Vietnam (SBV), since the beginning of the year, the capital mobilization interest rates of credit institutions have only increased slightly (0.08%). In general, the increase in deposit interest rates compared to the beginning of the year is mainly in the group of small-scale non-state-owned joint-stock commercial banks, while the majority of credit institutions have adjusted their capital mobilization interest rates downward since the direction of the Government and SBV.

Customers come to deposit savings at Vietcombank Ha Tinh.

Accordingly, since February 25, 2025, 28 joint stock commercial banks have reduced their deposit interest rates by 0.1-1.05% per year. In April 2025 alone, 9 banks adjusted their deposit interest rates down. In May, while a few banks increased their savings interest rates for some terms, the majority of "banks" still kept their capital mobilization interest rates stable at a low level.

Currently, the highest common interest rate in the non-state joint stock commercial bank sector for a 24-month term is 6.3%/year, 12 months is 5.9%/year, 6 months is 5.4%/year... The highest interest rate for long terms (12 months, 24 months) of the "Big 4" group (Vietcombank, BIDV, Agribank and VietinBank) ranges from 4.7% - 4.8%/year. Compared to the mobilization interest rate 2 years ago (from the peak of nearly 12%/year for the first 12-month term in 2023), the current interest rate is 5 - 6% lower.

Although capital mobilization interest rates in the first months of the year tended to decrease, however, in Ha Tinh, savings deposits are still an attractive investment channel, many credit institutions have positive growth from capital sources.

Banks lower deposit interest rates to create a basis for continuing to lower lending interest rates, supporting the economy.

According to Ms. Hoang Thi Ngoc Thao - Head of Customer Service Department (Vietcombank Ha Tinh): Vietcombank's deposit interest rates have remained stable for a long time. Accordingly, the highest interest rate at the branch is currently 4.7%/year for a term of 24-36 months, 12 months is 4.6%/year... Compared to previous years, the current mobilization interest rate is lower, but many people still choose to save. As of May 5, 2025, the total mobilized capital of the branch reached 14,600 billion VND, of which mobilization from individual customers was 12,494 billion VND, an increase of 10.1% compared to the beginning of the year.

Agribank Ha Tinh II Branch is also "attracting attention" to customers thanks to the "Happy New Year - Come and receive gifts" savings program with a total value of nearly 1.2 billion VND.

According to the leader of Agribank Ha Tinh II Branch, implemented from February 10, 2025 to April 28, 2025, the lottery savings program issued 67,953 lottery tickets/a total of 90,000 tickets, the amount mobilized was 925 billion VND. As of April 30, 2025, the total mobilized capital of the branch reached 14,782 billion VND, an increase of 5.93% compared to the beginning of the year.

In the first months of the year, the non-state joint stock commercial banks also focused on attracting idle capital from the population to create more resources for lending to the economy. Accordingly, these "banks" "score points" with customers by applying deposit interest rates "slightly higher" than those of state-owned joint stock commercial banks along with attractive gift policies. At the same time, solutions to develop new customers are also prioritized to create momentum for capital growth.

Agribank Ha Tinh II Branch is "attracting attention" to customers thanks to the "Happy New Year - Come and receive gifts" savings program with a total value of nearly 1.2 billion VND.

Mr. Le Dai Duong - Deputy Director of MB Bank Ha Tinh said: "Since the beginning of the year, the unit has developed more than 5,000 new personal accounts, contributing to "attracting" mobilized capital. In addition, we always encourage customers to prioritize online savings to enjoy higher interest rates than saving at the counter. Up to now, the branch's mobilized capital has reached nearly 2,200 billion VND, an increase of 26% compared to the beginning of the year. With this growth momentum, the capital target of MB Bank Ha Tinh reaching 2,800 billion VND (by December 31, 2025) is forecasted to be quite favorable".

According to credit institutions, although investment channels such as real estate, gold, etc. have shown signs of positive recovery recently, some people have chosen to withdraw savings to invest in these markets, but the number of these customers is not large. In the context of the economy still facing many difficulties and challenges, affecting production and business activities, bank savings are still considered an attractive investment channel for Ha Tinh people.

According to data from the State Bank of Region 8, the mobilized capital of the Ha Tinh banking industry by April 30, 2025 reached about 116,000 billion VND, an increase of about 7% compared to the beginning of the year.

According to economic experts, implementing the Government's direction, in the coming time, the State Bank of Vietnam will continue to operate interest rates stably to support economic growth as well as in line with other macroeconomic indicators. Interest rates mobilized at "banks" are forecasted to continue to decrease, but the decrease will not be too much and increasing interest rates is very difficult. At the same time, lending interest rates of banks are assessed to remain stable, even decrease slightly in some priority areas to support the economy.

The mobilized capital of Ha Tinh banking industry by April 30, 2025 reached about 116,000 billion VND.

In the coming time, the State Bank of Region 8 will continue to direct credit institutions in the area to maintain stable deposit interest rates, reduce costs to reduce lending interest rates, and promptly support people and businesses.

Accordingly, the priority solutions are to reduce operating costs, increase the application of information technology, simplify procedures and other measures to reduce lending interest rates; focus credit on production and business sectors, priority sectors and economic growth drivers, new growth drivers.

Source: https://baohatinh.vn/lai-suat-tien-gui-giam-nguon-von-huy-dong-tai-cac-ngan-hang-ra-sao-post287323.html