Banks simultaneously increase deposit interest rates to meet year-end capital demands.

Many banks are increasing deposit interest rates.

In the fourth quarter, liquidity across the entire system is usually tighter, leading to a more intense competition among banks to raise capital.

In recent days, many banks have simultaneously adjusted interest rates, especially joint-stock banks such as GPBank, NCB, Bac A Bank , HDBank, etc. Bac A Bank, in particular, has increased interest rates twice in October. Some banks have announced high interest rates such as: LPBank: 3-month term: 4.75%/year; 6-month and 12-month terms: 6.1%/year (deposits at the counter), 6.2%/year (online deposits); 18-month term: 6.2%/year (deposits at the counter), 6.3%/year (online deposits); Bac A Bank: 3-month term: 4.75%/year; 18-36 month term: 6.3%/year (from VND 1 billion and above).

Towards the end of the year, banks focus on raising capital, creating favorable conditions for lending to support economic development. Photo: TH

Several other banks also offer high interest rates, but these often come with minimum balance requirements. For example, PVcomBank: 9%/year for 12-13 month terms, requiring a minimum balance of VND 2,000 billion; HDBank : 8.1%/year for a 13-month term, requiring a minimum balance of VND 500 billion; LPBank: 6.5%/year for customers receiving interest at the end of the term with deposits of VND 300 billion or more.

Some banks offer interest rates starting from 6% per year without requiring a minimum deposit amount, such as: VPBank : 6% per year for terms of 12-18 months and 24-36 months; HDBank: 6% per year for a 15-month term and 6.1% per year for an 18-month term.

Overall, bank interest rates are increasing and varying depending on the bank and deposit term. Not only are joint-stock banks doing this, but the "Big 4" banks are also simultaneously launching promotional programs and interest rate bonuses to attract deposits during the peak year-end period.

Most recently, Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) launched a promotional program for savings depositors. Accordingly, individual customers depositing money at the counter have the opportunity to receive gifts in cash or in kind worth 800,000 VND; and customers depositing online with 1 million VND or more for a term of 6 months or longer will receive double reward points, equivalent to 20 points for every million VND deposited, double the usual rate.

This bank also adds an extra 0.3 to 1% per year interest rate for customers depositing savings online for terms of 1-10 months, bringing VietinBank's online interest rates to the same level as the Vietnam Investment and Development Bank (BIDV), reaching 2% per year for terms of 1-2 months, 2.3% per year for terms of 3-5 months, and 3.3% per year for terms of 6-10 months.

transactions at BIDV Nghe An — Transactions at BIDV Nghe An. Photo: TH

Vietcombank (Vietnam Foreign Trade Commercial Bank) has also launched a major promotional program to attract deposits. Specifically, customers who deposit savings of 1 billion VND or more at the counter will receive points equivalent to 0.1% of the deposit value. For savings deposits of 30 million VND or more, with a term of 6 or 12 months, depositors are eligible to participate in a prize draw program.

Mr. Nguyen Xuan Thong, Director of VIB International Bank in the North Central region, stated: "Since the beginning of the year, deposit mobilization has been difficult. In the first nine months of 2025, VIB Bank in the North Central region alone saw a 5% decrease compared to the same period last year. This year, bank interest rates are low, while competing channels such as gold, real estate, and securities are all increasing, attracting capital. Therefore, to ensure capital for the year-end season, the bank is forced to adjust interest rates upwards to limit customers from withdrawing capital to invest in other channels."

"Currently, banks are raising interest rates to attract funds to meet year-end lending needs, in line with the seasonal cycle. After the interest rate increase, our deposits in October increased by 6% compared to September," Mr. Thong said.

Ensuring year-end capital requirements are met.

According to experts, the simultaneous increase in deposit interest rates by many banks in October reflects the growing demand for medium and long-term capital, especially during the peak credit disbursement season at the end of the year and the recovery of purchasing power.

In the final months of the year, businesses focus on increasing production and sales to achieve growth targets, so the demand for credit will also increase. Mr. Nguyen Thanh Binh, Director of Begen Co., Ltd. in Nghia Loc commune, said: "Our company specializes in producing fashion socks and sportswear for export to many markets around the world such as the US, Italy, Hong Kong, and China... Currently, our sock weaving and shaping equipment has a production capacity of 4,000 pairs per day, creating jobs for more than 40 local workers. We have signed orders until 2030, but the current factory size is insufficient to fulfill all orders. Therefore, we need to continue borrowing from banks to expand the factory and invest in production lines to meet the signed orders."

“Currently, our business is borrowing capital from Agribank's Tay Nghe An branch, with interest rates that ensure profitable production. We need to borrow additional capital to meet end-of-year orders,” Mr. Binh shared.

Towards the end of the year, the demand for loans for production and business increases significantly. In the photo: The production line for export socks at Begen Co., Ltd. in Nghia Loc commune. Photo: TH

Deposit interest rates are showing signs of rising again as banks increase their capital mobilization needs to meet production and consumption demands in the final months of the year. If deposit interest rates remain around 6-6.3% per year, mobilized capital will continue to increase in the final months of the year, especially as other investment channels face greater difficulties and are experiencing downward fluctuations.

By October 31, 2025, mobilized capital (excluding development banks) in the provinces managed by the State Bank of Vietnam's regional branch 8 (including Nghe An, Ha Tinh, and Quang Tri provinces) is estimated to reach VND 575,143 billion, an increase of VND 80,777 billion (16.3%) compared to the beginning of the year; and an increase of VND 95,656 billion (20%) compared to the same period last year. Of this, Nghe An province saw a 16% increase compared to the beginning of the year.

According to the State Bank of Vietnam, Region 8 Branch, as of September 30th, the total outstanding loans of credit institutions in the region (excluding the Development Bank) reached VND 636,638 billion, an increase of VND 61,668 billion compared to the beginning of the year, or 10.7%; of which, Ha Tinh increased by VND 12,640 billion, or 11.6%; Nghe An increased by VND 35,094 billion, or 11.04%; and Quang Tri increased by VND 13,934 billion, or 9.4%. Outstanding loans in Nghe An accounted for 55.4% of the total outstanding loans in Region 8.

As of October 31st, the total outstanding loans of credit institutions in the area were estimated at VND 645,539 billion, an increase of VND 70,568 billion compared to the beginning of the year, or 12.3%; of which, Nghe An province saw an increase of 12.7% compared to the beginning of the year.

To ensure the stability of the monetary market, Ms. Nguyen Thi Thu Thu, Acting Director of the State Bank of Vietnam's Regional Branch 8, stated: The State Bank of Vietnam continues to require credit institutions to implement comprehensive solutions to stabilize and strive to reduce deposit interest rates, contributing to the stability of the monetary market and creating room for reducing lending interest rates. The State Bank of Vietnam's Regional Branch 8 continues to direct credit institutions to strengthen safe, efficient, and sound lending, limit the increase and 발생 of bad debts, and ensure the safety of credit institutions' operations.

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We direct credit towards production sectors, priority sectors, and sectors that are drivers of economic growth in accordance with the policies of the Government and the Prime Minister; increase lending for living expenses and consumption; strictly control lending to sectors with potential risks; and issue documents to disseminate directives on credit work to credit institutions in the area. We direct credit institutions to implement programs such as: social housing, renovation of old apartment buildings, support for young people under 35 to buy houses, credit for agriculture, forestry, fisheries, and green growth…
Ms. Nguyen Thi Thu Thu - Acting Director of the State Bank of Vietnam, Branch 8

Source: https://baonghean.vn/ngan-hang-dong-loat-tang-lai-suat-huy-dong-dap-ung-nhu-cau-von-cuoi-nam-10309683.html