In the first 3 months of the year, lending interest rates continued to decrease by 0.4% compared to the end of 2024

Strictly implementing the direction of the management agency, in the recent past, many banks have reduced their deposit interest rates. According to the latest statistics of the State Bank, in the first days of April 2025, 2 banks continued to reduce interest rates, namely VPBank and MB. Specifically, from March 28, 2025 to April 3, 2025, VPBank reduced 0.1%/year for 1-5 month terms and 0.2% for terms over 6 months for products (Regular Savings, Savings/Term Deposits Phat Loc Thinh Vuong, Flexible Savings, Prime Savings). On April 3, 2025, MB reduced 0.1%/year for 12-18 month terms for deposits at the counter, online, and final interest of individual and corporate customers.

Thus, since the meeting between the State Bank and commercial banks (February 25, 2025) to April 3, 2025, 26 banks have reduced deposit interest rates including: BVBank, MSB, VietBank, Saigonbank, VIB, BAOVIET Bank, KienLongBank, BACABank, VietABank, Eximbank, PGBank, LPBank, Nam A Bank, SHB, NCB, VCBNeo, BIDV, Techcombank, Vikki Bank, MBV, OCB, VietinBank, Agribank, ABBank, VPBank and MB.

Governor of the State Bank of Vietnam Nguyen Thi Hong speaks at the regular Government meeting in March.

Speaking at the regular Government meeting in March held on the morning of April 6, SBV Governor Nguyen Thi Hong said that in the face of a number of commercial banks increasing deposit interest rates, the SBV held a meeting and then the banks took action to reduce deposit interest rates. By the end of the first quarter of 2025, the new deposit interest rate level remained almost unchanged, increasing by only 0.08%, while the lending interest rate level continued to decrease by 0.4% compared to the end of 2024, demonstrating the banking system's efforts to support the economy.

Banking industry actively reduces interest rates to support economic growth

Low interest rates have become one of the important driving forces to help credit growth increase strongly throughout the system in the first quarter of 2025. According to Governor Nguyen Thi Hong, by the end of the first quarter, credit growth reached 3.93%, 2.5 times higher than the 1.42% in the same period last year, demonstrating the positive contribution of the banking sector to total social investment in recent times.

Sharing about the management orientation in the coming time, in the face of the instability of the world economy, Governor Nguyen Thi Hong emphasized: The State Bank will closely monitor market developments to operate tools and solutions with reasonable timing and dosage, especially considering harmonizing goals.

According to experts, it is appropriate to closely follow market developments and operate monetary policy in a cautious manner, harmonizing goals. Because exchange rate and inflation pressures are increasing after the new US tariff policy, loosening monetary policy will face many risks.

Source: https://thoibaonganhang.vn/3-thang-dau-nam-lai-suat-cho-vay-tiep-tuc-giam-04-so-voi-cuoi-nam-2024-162367.html