Bank deposits continue to reach new records.

According to the latest figures released by the State Bank of Vietnam today, October 2nd, as of the end of July, the amount of deposits in banks from individuals reached 6,838 trillion VND. This is the highest level ever recorded. However, the amount of deposits from organizations decreased slightly.

According to the State Bank of Vietnam, as of the end of July, the amount of money deposited in banks by the public exceeded 6,838 trillion VND - Photo: QUANG DINH

According to statistics from the State Bank of Vietnam, as of July, deposit Household income reached 6,838 trillion VND, an increase of 305,672 billion VND, equivalent to 4.68% compared to the end of 2023.

Compared to the same period last year, household deposits in banks increased by 448,820 billion VND.

Observations of According to Tuoi Tre Online , people's deposits in banks have increased continuously for more than two years, despite a sharp drop in deposit interest rates.

Regarding deposit interest rate trends, after about a year of record low interest rates, many commercial joint-stock banks have increased deposit interest rates since April.

At VPBank , for example, the interest rate for 6- and 9-month term savings deposits is 5%-5.4% per year, depending on the deposit amount and customer type. For priority customers with deposits of 300 million VND or more, the bank will pay an interest rate of 5.4% per year. For non-priority customers, the listed interest rates for 12-month and 24-month terms are 5.4% per year and 5.7% per year, respectively.

AtSHB , the interest rate for a 6-month term is listed at 4.7%/year, while the rates for 9 and 12-month terms are 4.7%/year and 5.2%/year respectively.

Meanwhile, state-owned banks have maintained stable interest rates for several months. For example, VietinBank, as of October 2nd, interest rate The highest deposit interest rate is 4.8%/year, applicable to terms of 24 months or more. For terms from 6 to less than 12 months, VietinBank has maintained a rate of 3%/year for many months now. For terms from 12 months to less than 24 months, the savings interest rate is 4.7%/year.

The interest rates at Vietcombank, effective from the beginning of October, remain unchanged from previous months. For example, the interest rate for 6 and 9-month terms is 2.9% per year; for 12-month deposits, the rate is 4.6% per year; and for 24 months or more, the listed interest rate is 4.7% per year.

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