Saving for the poor

Staff of the Trang Dinh Social Policy Bank Transaction Office give savings books to customers participating in savings deposits.

In previous years, capital for lending to poor households and other policy beneficiaries was mainly allocated from the central budget or from local budgets entrusted to the VBSP, so it was limited. Meanwhile, the demand for loans from people in the province is very large, therefore, mobilizing savings not only helps to create savings habits but also supplements capital for lending to poor households and other policy beneficiaries. Accordingly, currently, the VBSP provincial branch mobilizes capital through two main forms: mobilizing savings deposits through savings and loan groups (TK&VV) and mobilizing residential deposits.

Present at the That Khe commune transaction point on a day in mid-October 2025, we witnessed the bustling atmosphere here. At the transaction, bank staff not only collected debts and interest but also promoted and guided customers to participate in saving at the bank. Mr. Ly Van Tien, village 5, That Khe commune shared: My family raises pigs so we also have some money saved. Through propaganda, I learned that the Social Policy Bank has a savings service with interest rates equivalent to commercial banks. That's why I participated in saving 50 million VND at the bank to help poor households get loans to develop production.

Not only Mr. Tien, recently, many customers in the whole province have clearly understood the role and significance of the form of savings mobilization of the Social Policy Bank and participated in saving. With only 500 thousand VND, people can open a savings book at the bank headquarters or at the transaction point of the commune where the customer resides, through many forms of savings such as: non-term savings, term savings, savings deposits...

Mr. Phan Anh Thang, Deputy Director of the Provincial Branch of the Social Policy Bank, said: In order to promote the savings mobilization program, every year the Provincial Branch of the Social Policy Bank has advised the Representative Board of the Provincial Social Policy Bank to direct relevant agencies, units and entrusted socio -political organizations to promote propaganda and mobilize cadres, members and people to actively participate in saving at the Social Policy Bank. In addition, the Branch also directed bank staff to closely coordinate with entrusted associations, unions and savings and credit institutions to strengthen propaganda so that borrowers understand the meaning and benefits of saving. In particular, in 2022, 2023 and 2024, the unit has proactively organized and advised the Provincial People's Committee to successfully organize the "Savings Day - Joining hands for the poor", thereby spreading the savings movement, supplementing loan capital, contributing to effectively implementing the goal of sustainable poverty reduction.

Along with the form of mobilizing savings from the population, currently, the Provincial Branch of the Vietnam Bank for Social Policies also maintains the form of mobilizing savings deposits through savings and credit groups, helping people, especially the poor and policy beneficiaries, raise their awareness of savings, have the conditions to repay debts, and reduce the burden when the loan repayment deadline comes. Currently, the whole province has 2,042 savings and credit groups, in which 100% of the group members participate in saving deposits through the group with a common deposit level of 50,000 VND/month or more, many households deposit from 100,000 - 200,000 VND/month.

As a typical example in mobilizing savings deposits, in recent times, the Savings and Credit Group of Na Tan village, Vu Le commune has not only helped its members borrow preferential loans for economic development but also formed the habit of saving to create their own capital, accumulating for future use. According to Ms. Nguyen Thi Thua, Head of the Savings and Credit Group of Na Tan village, when depositing savings, each member is opened an account by the Social Policy Bank to deposit, withdraw and perform other payment services according to regulations. Currently, the group has 42 members, the amount of savings mobilized by the group is more than 72 million VND.

With effective methods, the annual growth target of on-site capital mobilization of the Provincial Branch of the Vietnam Bank for Social Policies is always guaranteed and maintained stably. Up to now, the total capital mobilized from savings deposits in the area is over 712 billion VND, an increase of 33.5 billion VND compared to 2024. Of which, mobilized savings deposits from residents reached 571.4 billion VND; mobilized savings through savings and credit groups reached 140.6 billion VND.

The mobilization of savings deposits at the Vietnam Bank for Social Policies has been contributing to increasing lending capital, meeting the capital needs of poor households and other policy beneficiaries in the province, contributing to the effective implementation of poverty reduction and ensuring social security. At the same time, it meets the needs and creates the habit of saving and accumulating for people in rural, remote and isolated areas.

Source: https://baolangson.vn/tiet-kiem-vi-nguoi-ngheo-5063119.html