Residential deposits hit a new "peak"

According to the latest figures from the State Bank, by the end of September, deposits from individual customers and economic organizations reached about 16.18 quadrillion VND, up nearly 3% compared to the end of July (15.73 quadrillion VND). Of which, deposits from residents continued to set a new "peak" with more than 7.83 quadrillion VND, up 10.86% compared to the beginning of the year.

Corporate deposits were VND8,350 trillion, up 8.91% compared to the end of 2024. In addition, total means of payment as of the end of September reached nearly VND20,000 trillion, up 11.53% compared to the beginning of the year.

People still choose savings as a way to keep money. Illustrative photo

Also according to the State Bank, in September, the average VND deposit interest rate of commercial banks was: 0.1-0.2%/year for demand deposits and deposits with terms of less than 1 month; 3.4-4.1%/year (term from 1 month to less than 6 months); 4.6-5.5%/year (from 6 months to 12 months); 4.9-6.1%/year (over 12 months to 24 months); 6.7-7.5%/year (over 24 months).

Since the beginning of November, most private commercial banks have adjusted their interest rates by 0.1 - 0.5% per year in the context of increased liquidity pressure at the end of the year, when the growth rate of mobilization is still much lower than credit growth. Experts say that banks have increased their deposit interest rates due to seasonal factors, when capital demand in the last months of the year is high, banks want to promote credit growth to complete the target.

Credit growth of the entire system by the end of September 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 and the fastest growth rate since 2018. Meanwhile, capital mobilization growth rate only reached about 9.6% - 10.2% by the end of November.

Source: https://hanoimoi.vn/tien-gui-dan-cu-lap-dinh-moi-725611.html