Banks increase savings interest rates
Since the beginning of November, most private commercial banks have adjusted their interest rates, except for the group of four "big guys" with State capital including Agribank , VietinBank, Vietcombank and BIDV.
For terms under 6 months, many private banks have raised interest rates to the ceiling of 4.75%/year according to the regulations of the State Bank of Vietnam (SBV), including Techcombank, MB, Nam A Bank, VIB, OCB and Bac A Bank . For medium and long term terms, the interest rate of 6-7%/year has appeared at some banks without special conditions on the deposit amount.
Accordingly, Vikki Bank is listing 6.1%/year for 6-month term, 6.3%/year for 12-month term and 6.4%/year for 13-month term (online VND savings interest rate); Cake by VPBank applies 6.3 - 6.5%/year for 6-36-month terms ; Bac A Bank from 6.3%/year for 12-month term to 6.5%/year for 18-36-month term ; VCBNeo is currently listing interest rate 6.2%/year for 6-month term and 6.2%/year for 12-60-month term group.
Currently, the highest deposit interest rate for individual customers for a 6-month term is recorded at two banks, Bac A and Vikki, at 6%/year.
However, Bac A will have a deposit limit of over 1 billion VND. If it is below this limit, Bac A will pay 5.8%/year. Also at 5.8%/year, VCBNeo is anchoring this interest rate. VPBank this month raised the mobilization interest rate to 5.4% - 5.6%/year, depending on the deposit limit.
HDBank is also a bank with deposit interest rates at 5.4%/year. In the bank interest rate comparison table, customers can also choose to deposit money at many other banks with attractive interest rates ranging from 2.9% - 4.5%/year.
At BVBank, the bank offers incentives with a "group deposit" mechanism to get additional interest. The additional interest rate fluctuates from 0.2-0.4%/year depending on the amount and the number of people participating in the deposit. Nam A Bank is also applying a lucky draw program until January 9, 2026, with the special prize being a Honda CR-V car worth 1.3 billion VND, while Vietbank offers a similar incentive, from now until December 31, 2025, customers who deposit savings will receive a lucky draw code, a chance to win many big prizes, including diamonds worth 500 million VND.
 |
| Savings interest rates increase. |
Particularly, at 4 state-owned banks, the interest rates for 6-month terms, paid at the end of the term are as follows: BIDV and VietinBank continue to apply the interest rate of 3%/year, equivalent to the previous month; Vietcombank applies the interest rate of 2.9%/year, the lowest in the system along with SCB.
Agribank is more outstanding with a savings interest rate of 3.5%/year. Previously, the mobilization interest rate at the state-owned banking sector has not changed for a year, maintained at the lowest level in the market, with the interest rate for 1-3 month term deposits at only 1.6-2.4%/year; 6 month term at 2.9-3.7%/year; and deposits with a term of 12 months or more only paid interest at around 4.6-4.8%/year.
Because credit growth is higher than mobilization
The year 2025 is shaped by the proactive and flexible monetary policy of the State Bank of Vietnam (SBV), prioritizing the goal of promoting economic growth, associated with controlling inflation and stabilizing major balances of the economy.
In the first three months of 2025, the State Bank of Vietnam (SBV) persistently kept operating interest rates at low levels, while directing credit institutions (CIs) to implement measures to stabilize deposit interest rates, reduce operating costs and reduce lending interest rates.
This effort has achieved significant results in reducing capital costs for businesses. By the end of the first quarter of 2025, the average lending interest rate continued to decrease by 0.4% compared to the end of 2024, while the mobilization interest rate only increased slightly by 0.08%.
By the end of October 2025, the average lending rate for new transactions had fallen to 6.88%/year, and the average deposit interest rate remained at around 4.22%/year as of October 10. The successful maintenance of low lending rates has been the main driver of capital demand and the economy's capital absorption capacity, laying the foundation for strong credit growth rates rarely seen in many years.
Credit growth of the entire system by the end of September 2025 reached 15% compared to the beginning of the year, and continued to increase to 15.1% by the end of October, almost reaching the target set for the whole year.
This is the fastest growth rate since 2018. However, analysts believe that the growth rate of capital mobilization is significantly slower, reaching only about 9.6% to 10.2% by the end of November 2025. The large gap between credit growth and mobilization (nearly 4 to 5.5 percentage points) is the clearest sign of accumulated liquidity pressure in the system.
The consequence of this imbalance is that the loan-to-deposit ratio (LDR), which only counts market capital sources 1, has reached a relatively high level, around 98%.
This LDR level shows that banks are using up almost all of their lending capacity based on domestic capital mobilization, forcing them to seek additional capital sources or increase interest rates to attract deposits to meet the strong increase in lending demand at the end of the year, especially when the credit growth target for the whole year is forecast to reach 19%-20%.
This structural tension is the root cause of the wave of interest rate hikes in the fourth quarter of 2025. The pressure to mobilize capital at the end of the year has led to a widespread wave of interest rate hikes. About 20 banks have increased their deposit interest rates since the beginning of November 2025, with common increases ranging from 0.1-0.5 percentage points.
Source: https://baodautu.vn/lai-suat-tiet-kiem-tang-ngan-hang-nao-dang-cao-nhat-d440893.html
Comment (0)