Credit surges, interest rates continue to rise.

VTV.vn - In just the first 10 days of December, a series of banks have adjusted and increased deposit interest rates.

Since the beginning of the fourth quarter, deposit interest rates in the market have been poised for a new round of increases, amidst a very strong surge in credit, far exceeding the total lending volume of the entire system for the whole of last year. This month alone, nearly 20 banks have adjusted their interest rate schedules, with even large state-owned banks beginning to participate.

In just the first 10 days of December, a series of banks adjusted their deposit interest rates upwards. The adjustments ranged from 0.1% to 0.7% per year, including some newcomers joining the interest rate hike race for the first time. This indicates a significant increase in the demand for liquidity reserves for the year-end peak capital season.

Currently, deposit interest rates are slightly increasing. For short-term deposits under 6 months, many banks are reaching the ceiling of 4.75% per year. For 6-month deposits, the common rate is 5-6.4% per year. High interest rates are attracting money back to banks.

Depositors expect interest rates to continue rising, so they tend to choose short-term deposits. Meanwhile, banks want to attract long-term deposits to ensure liquidity safety. Therefore, attractive interest rates are usually concentrated on long-term deposits, typically 6 months or more.

Credit growth across the entire economy is surging, reaching 16.56% by the end of November with outstanding loans exceeding 18.2 trillion VND.

Given the seasonal nature of the banking sector, the demand for capital at the end of the year is very high. Therefore, attracting deposits into the banking system remains a major challenge, not only now but also in the coming years, to support the goal of double-digit economic growth.

Input interest rates have increased. Output interest rates at some banks have also been adjusted, but within a narrower range, especially for good businesses. This is because, according to the banks, they are also under intense competitive pressure to retain borrowers.

Source: https://vtv.vn/tin-dung-but-pha-lai-suat-tiep-tuc-tang-100251216154840239.htm