Sacombank adjusts deposit interest rates.

Many banks are adjusting interest rates upwards.

Towards the end of the year, the demand for capital to ensure production for the Tet holiday market usually increases, especially after floods, as many businesses need capital for reconstruction and production restoration. To ensure sufficient capital during this peak season, many banks begin adjusting deposit interest rates upwards and implementing various preferential policies to create an attractive interest rate environment to attract idle funds.

According to reports, current deposit interest rates are commonly at 0.1 - 0.5% per year for demand deposits; 1.5 - 4.0% per year for terms from 1 to less than 6 months; 2.7 - 4.9% per year for terms from 6 to less than 12 months; and deposits of 12 months or more are applying interest rates from 3.7 - 5.85% per year.

Recently, Techcombank announced a new savings interest rate schedule for individual customers depositing at the counter. The bank is currently applying an interest rate of 3.95%/year for terms of 1-2 months, an increase of 0.9 percentage points compared to November; 4.25%/year for terms of 3-5 months, an increase of 0.92 percentage points; 5.35% for terms of 6-11 months, an increase of 1 percentage point; and 5.45% for terms over 12 months, an increase of 0.9 percentage points compared to the previous month.

State-owned joint-stock banks maintain low interest rates.

Notably, many banks have applied the maximum interest rate of 4.75%/year as stipulated by the State Bank of Vietnam for deposits under 6 months. At Sacombank, the current interest rate for online deposits with terms of 3-5 months is 4.75%/year, reaching the maximum rate. For short terms of 1-2 months, the bank applies interest rates of 4.6%/year and 4.7%/year; for terms of 12 months or more, the interest rate is 5.8%/year, and 6%/year for terms over 18 months.

Along with interest rate increases, banks are also implementing many preferential interest rate programs and prize-winning savings schemes to attract customers. Among them, Agribank announced the awarding of over 3,300 prizes to depositors from November 10th to December 31st, 2025. PVcomBank is offering a special interest rate of 9% per year for deposits made at the counter with a term of 12-13 months, requiring a minimum balance of 2,000 billion VND.

According to data from the State Bank of Vietnam, Region 9, as of the end of November 2025, in Hue City, mobilized capital continued to maintain stable growth. The total mobilized capital of credit institutions was estimated at VND 88,100 billion, an increase of 14% compared to the end of 2024. This increase partly shows that savings remain an investment channel of interest to individuals and businesses.

Keep interest rates stable.

Conversely, outstanding credit is estimated at VND 90,800 billion, an increase of 9.1%. According to the State Bank of Vietnam's Region 9 assessment, credit flows are operating safely and are well-controlled. However, it cannot be denied that the increase in deposit interest rates is putting pressure on individuals and businesses.

Many businesses believe that rising interest rates will lead to increased financial costs. At a time when businesses are striving to recover production after floods and expand year-end orders, the increase in interest rates will directly affect their competitiveness and investment plans for 2026, especially for businesses that use significant financial leverage.

At a recent meeting of the Hue City People's Council, Mr. Tran Duc Minh, Chairman of the Young Entrepreneurs Association, stated that businesses are facing numerous challenges as their business plans and preparations for supplying goods to the Tet market have been affected by storms and heavy rain. Recovery and reinvestment require significant capital. Meanwhile, most banks are adjusting lending interest rates upwards, putting pressure on businesses as they must both recover economically and invest in production development during this peak period.

The Young Entrepreneurs Association proposed that the State Bank of Vietnam should implement measures to maintain the best possible interest rates during the period leading up to Tet (Lunar New Year). In addition, banks need to have policies to support businesses facing difficulties and losses due to floods, creating momentum to help businesses complete their 2025 economic development plans and create growth for 2026.

Not only businesses, but many customers also report that at the end of the year, many preferential credit programs have expired, and the current interest rate adjustments by some banks are making it difficult to access capital.

Looking at recent deposit interest rates, the upward trend is mainly concentrated in a few commercial banks. The fact that state-owned joint-stock banks maintain lower deposit interest rates than the general market partly confirms the State Bank of Vietnam's efforts in managing the market. However, macroeconomic policies from the government are still needed to keep interest rates stable in order to create favorable conditions for businesses and individuals to develop production and business activities.

The State Bank of Vietnam, Region 9, has issued a document requesting credit institutions in the area to review and assess the production and business activities and debt repayment capacity of borrowers affected by the recent storms and floods, and to promptly apply support measures to alleviate the situation. At the same time, they are to implement credit programs and packages with interest rates lower than normal lending rates to help businesses and individuals restore production and business; reduce lending interest rates by 0.5% - 2% per year for 3-6 months for existing outstanding loans of customers affected by storms and floods; and handle debt restructuring for affected customers.

Text and photos: Hoang Anh

Source: https://huengaynay.vn/kinh-te/suc-ep-lai-suat-cuoi-nam-160982.html