According to newly released data from State Bank, by the end of March, the total number of deposit of both individual customers and economic organizations of credit institutions reached nearly 15 million billion VND, an increase of 1.83% compared to the previous month.
Remarkable, deposit of the current residential area continued to increase strongly, reaching nearly 7.5 million billion VND, up 5.73% compared to the beginning of the year, reaching a new record. In March alone, people Deposited more than 103,800 billion VND into the banking system, a significant increase reflecting the psychology of hoarding cash in the context of interest rates remaining low.
On the other hand, current corporate deposits reached about 7.5 million billion VND, down 1.92% compared to the end of 2024. However, compared to the end of February, this figure increased by more than 158,000 billion VND.
Regarding interest rates, as of the end of March, the level interest rate VND deposits at commercial banks fluctuate from 0.1-0.2%/year for demand deposits and deposits under 1 month; from 3.1-4%/year for terms from 1 to under 6 months; 4.5-5.4%/year for terms from 6 to 12 months; 4.8-6%/year for terms from 12 to 24 months and the highest is 6.9-7.1%/year for terms over 24 months.
In the form of non-term deposits, interest rate The highest savings at the counter is currently 0.5%/year.
Experts from MBS Securities Company predict that input interest rates may increase slightly again by the end of the year. This expectation is based on the positive economic growth outlook and the ability of credit growth to reach or exceed the set target of 16%.
MBS Securities Company forecasts that credit growth this year will reach 17-18%, driven by the recovery of the manufacturing industry, domestic consumption and the acceleration of public investment disbursement. MBS's report also said that interest rates mobilize 12-month terms of major banks will fluctuate between 5.5-6% in 2025.
Sharing the same view, ABS Research commented in the context stable banking system liquidity and inflationary pressure is not too high, interest rates are expected to remain low or decrease slightly in the coming time. However, interest rates are also under pressure from gradually improving credit demand and increasing demand for investment in real estate and securities.
This is in the context of expectations of positive economic growth and credit reaching or exceeding the 16% target.
Overall, the deposit interest rate level in the first quarter remained almost unchanged, only increasing slightly by 0.08%, while the lending interest rate decreased by 0.4% compared to the end of 2024. This shows the efforts of the banking system in supporting businesses and promoting economic recovery.
Source: https://baoquangninh.vn/tien-nguoi-dan-gui-ngan-hang-tang-ky-luc-3362990.html
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