Will savings interest rates continue to increase?

The rise in savings interest rates is gradually slowing down

According to Lao Dong, by the end of the first half of August, the market recorded 12 banks increasing savings interest rates. Compared to the same period two months ago, nearly 20 banks increased interest rates in just half a month.

Banks that have increased savings interest rates since the beginning of August include: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank.

However, a few banks have started to reduce interest rates. Since the beginning of August, the market has recorded 3 banks adjusting their interest rates "against the trend". Accordingly, the banks that reduced interest rates are mostly banks that previously had the highest interest rates in the market such as ABBank, Bac A Bank, SeABank.

ABBank listed a decrease of 0.1 - 0.3 percentage points at most terms; SeABank also listed a decrease of 0.25 percentage points at all terms; Bac A Bank's interest rates also recorded a decrease of 0.1 - 0.2 percentage points.

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Will savings interest rates continue to increase?

Experts predict that the upward adjustment at banks will continue until the end of this year. The reason is that banks want to have abundant mobilization sources to be able to meet the demand for loans in the last months of the year.

Dr. Nguyen Tri Hieu - economic expert - said: "In the second half of the year, with more prosperous production and business activities, banks will be more aggressive in lending. With this scenario, banks will increase deposit interest rates."

Some experts believe that deposit interest rates may increase by 0.5% to 1% by the end of the year. Lending interest rates will increase accordingly. However, with the Government's direction, the State Bank will still maintain a loose monetary policy, requiring lower output interest rates to ensure support for businesses to recover production and business, so lending interest rates are expected to increase only slightly in the coming time.

Details of deposit interest rates at banks, updated on August 18, 2024