Interest rates on capital mobilization continue to decrease
On February 24, 2025, the Prime Minister sent a telegram to the Governor of the State Bank of Vietnam (SBV) on strengthening the implementation of solutions to reduce interest rates. Accordingly, since the end of February, dozens of credit institutions have reduced deposit interest rates.
VP Bank has just adjusted its deposit interest rate schedule for the second time since the beginning of May 2025 with a reduction of 0.1%/year for terms from 2 to 36 months. Accordingly, VP Bank Ha Tinh listed the interest rate at the counter for customers with an amount from 1 to less than 3 billion VND for a term of 2-5 months at 3.6%/year, a term of 6-11 months at 4.5%/year, a term of 12-18 months at 5%/year and a term of 24-36 months at 5.1%/year. For online deposits, VPBank also reduced 0.1%/year for terms from 2-36 months, applicable to all deposit amounts.
Similarly, on May 26, 2025, ACB Ha Tinh also adjusted the interest rate down by 0.1%/year for long-term deposits of 12 and 13 months.
Ms. Nguyen Ngoc Le - ACB Ha Tinh Transaction Officer said: "The branch currently lists the highest mobilization interest rate for a 12-month term at 5.2%/year, 13-month term at 5.3%/year, 6-month term at 4.6%/year... In general, the current mobilization interest rate is lower than the previous period, but the customer base for savings deposits at the branch is still quite stable, and the mobilized capital continues to grow."
Thus, since the beginning of May, many "banks" have reduced their deposit interest rates such as: MBBank, VPBank, ACB, GPBank, Eximbank. On the contrary, Techcombank and Bac A Bank increased their interest rates, however, the increase was very slight in some terms and in general, the deposit interest rates of these banks are still lower than before.
Through monitoring, it is shown that the mobilization interest rate of non-state joint stock commercial banks is low. Accordingly, the highest interest rate for regular deposits for 12 months is currently 5.65%/year, 24 months is 5.9%/year.
State-owned joint stock commercial banks (Agribank, Vietcombank, BIDV, VietinBank) are the group that pay the lowest savings interest rates on the market. Accordingly, the interest rates at the counters of the "big guys" in Ha Tinh range from 2.9 - 3.5%/year for 6-month and 9-month terms, from 4.6 - 4.7%/year for 12-month terms...
Ms. Hoang Thi Ngoc Thao - Head of Customer Service Department (Vietcombank Ha Tinh) said: "For a long time, the branch's deposit interest rate has been stable and maintained at a low level, creating a basis to continue reducing lending interest rates to support the economy in the context of many potential difficulties and challenges. Currently, the normal mobilization interest rate at the branch for a term of 6 months to less than 9 months is 2.9%/year, 12 months is 4.6%/year, 24 - 36 months is 4.7%/year... By May 26, 2025, the unit's mobilized capital reached 15,090 billion VND, an increase of 7.3% compared to the beginning of the year".
Although the mobilization interest rate is low, in general, "banks" such as: Vietcombank Ha Tinh, Agribank Ha Tinh Branch, Agribank Ha Tinh Branch II... all have impressive growth in mobilized capital thanks to flexible and attractive attraction policies.
It is estimated that by May 30, 2025, the total mobilized capital of the banking system in the province will reach about 117,820 billion VND, an increase of about 8% compared to the beginning of the year. This is an important resource for credit institutions to promote lending to support the economy.
Average lending interest rates tend to decrease
From 2024, the Prime Minister requested the State Bank of Vietnam to direct banks to publicly announce average lending interest rates to facilitate people and businesses in accessing credit. This is also the basis for effectively implementing preferential credit packages suitable to the characteristics of each credit institution for important sectors.
Data from the State Bank of Vietnam shows that last April, the average lending interest rate of domestic commercial banks for new and old loans with outstanding balances fluctuated at 6.6 - 8.9%/year, a slight decrease compared to the average lending interest rate of 6.6 - 9%/year in March. At the same time, the average short-term lending interest rate in VND for priority sectors in April was about 3.9%/year, lower than the maximum short-term lending interest rate prescribed by the State Bank (4%/year).
In April, the banks announced their average lending interest rates, with many banks slightly reducing their interest rates compared to the beginning of the year. Accordingly, BIDV announced its average lending interest rate for April at 5.52%/year (down 0.14% compared to the beginning of the year), Agribank's average lending interest rate for April was 6.6%/year (0.2% lower than January), and VietinBank's average lending interest rate for April was 5.42%/year (0.18% lower than January).
In addition, private commercial banks also have average lending interest rates that have decreased compared to the beginning of the year, such as: ACB, OCB, Techcombank, Sacombank... In general, the lending interest rate level continues to decrease, which is one of the factors that positively affects credit growth.
According to Mr. Vo Minh Manh - Deputy Director of Agribank Ha Tinh II Branch: With the goal of supporting the economy, Agribank continues to implement preferential interest rate credit packages. In the context of stable lending interest rates, people and businesses have boldly borrowed capital to invest in production and business development, serving consumption, creating motivation for the branch to increase outstanding loans. Currently, interest rates at the branch continue to remain stable with short-term lending interest rates from only 5%/year, medium- and long-term lending interest rates from only 7.5%/year. The branch's total outstanding loans as of May 27, 2025 reached VND 18,261 billion, an increase of 13.11% compared to the beginning of the year.
Mr. Vo Ta Thiet - Director of HMQ Construction and Trading Consulting Company Limited (Ha Tinh City) shared: "Currently, the stable lending interest rate level, the average lending interest rate of some "banks" tends to decrease, which is an advantage for the business community when entering the stage of accelerating production and business to soon complete the goals and plans for 2025, contributing significantly to promoting economic growth of Ha Tinh province".
According to data from the State Bank of Vietnam, Region 8, it is estimated that by May 30, 2025, the total outstanding debt of the Ha Tinh banking sector will reach about VND 118,860 billion, an increase of about 9% compared to the beginning of the year. It is expected that in the last months of the second quarter and the third quarter, outstanding credit will continue to grow strongly due to the stabilization of interest rates and the continued improvement in demand for investment loans. Accordingly, in addition to capital flowing into production and business, priority sectors under the direction of the Government, people's demand for loans to invest in real estate, gold, etc. has tended to increase.
Source: https://baohatinh.vn/thuc-hien-chi-dao-cua-thu-tuong-lai-suat-ngan-hang-ha-tinh-tiep-tuc-giam-post288810.html
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