In the trading session on February 7, interest rates between banks continued to increase, from 0.1 - 1.4%/year compared to the previous day. The average interbank interest rate for overnight terms increased to 3.68%/year, 1 week to 3.6%, 2 weeks to 3.38%, 1 month to 2.77%, 2 months to 2.67%, 3 months to 2.83%, 6 months to 4.28%, 9 months to 4.76%, and 12 months to 4.76%. Compared to a week ago, interbank interest rates have increased many times in some terms.
Savings interest rates decrease
On the last working day of the year (February 7), Sacombank reduced savings interest rates by 0.1 - 0.2%/year for some terms. Specifically, the interest rate for 1 - 2 months is 2.4%/year, 3 - 4 months is 2.6%, 6 months is 4%, 12 months is 4.8%... PVcombank has just reduced savings interest rates by about 0.5%/year for some terms. Accordingly, the mobilization interest rate for 1 - 5 months is 2.85%/year, 6 - 11 months is 4.5%, 12 months is 4.6% (except for 12 and 13 months with an amount of VND 2,000 billion or more, the interest rate is 10%/year)... The lowest interest rates on the market today belong to Vietcombank, SCB with 1.7%/year.
The State Bank has just announced that personal deposits in November 2023 increased by more than VND 21,000 billion, to VND 6,471 million billion. This level increased slightly compared to previous months but decreased quite sharply compared to November 2022, increasing by more than VND 84,597 billion. The growth rate of personal deposits at banks is at 10.32%/year.
Meanwhile, the amount of deposits from organizations increased quite strongly in November 2023. Credit institutions mobilized an additional VND 130,082 billion from economic organizations, up to VND 6,384 million billion. This is the month that recorded a fairly rapid growth rate of deposits from economic organizations. Compared to the end of 2022, organizational deposits increased by 7.23%, instead of the beginning of the year when deposits decreased sharply, negative more than 4% in January.
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