Savings interest rates have risen sharply.

As of December 13th, approximately 12 banks had raised interest rates in the past month, overwhelmingly outnumbering those that had lowered them.

Among them, Agribank was the only state-owned bank to significantly increase interest rates by 0.5-1% for short-term deposits under 12 months, especially through online channels. For terms of 12 months or more, the increase was lower, only about 0.1-0.2%.

This increase makes Agribank the bank paying the highest interest rates among the Big 4, ranging from 2.4% to 3.7% for terms under 12 months and 4.8% for terms of 12 months or more (online deposits).

In addition, more than 10 private banks, including MB, VPBank, TPBank, VIB, MSB, Eximbank, SeABank, Kienlongbank, CBBank, and LPBank , have adjusted their interest rate schedules over the past month.

Specifically, MB increased sharply by 0.3-0.4% across all maturities, Eximbank increased by 0.4-0.6%, SeABank increased by 0.3-0.5%, VPBank increased by 0.2% across all maturities, VIB increased by 0.1-0.4%, and so on.

Currently, two banks offer interest rates of 6% or higher on 12-month term deposits: GPBank and WooriBank.

In addition, interest rates of 6% are still available at other banks, but with longer terms, such as at BVBank, Eximbank, BaoVietBank, DongABank, Saigonbank, etc.

Vietcombank Securities Company (VCBS) assesses that current deposit interest rates are about 0.5% higher than the lowest level set in the second quarter, but still lower than the Covid-19 period.

The increase in savings interest rates is occurring against the backdrop of banks' capital mobilization rate being much lower than their credit growth rate.

As of December 7th, credit growth across the entire system reached 12.5%, higher than the over 9% increase in the same period last year. VCBS believes that the accelerated credit growth in the final months of the year, creating pressure on the exchange rate, has also led the State Bank of Vietnam to regulate the money supply more cautiously, and the limited deposits from the State Treasury have put pressure on system liquidity.

This securities firm forecasts that savings interest rates will remain stable in 2025, with expectations of easing exchange rate pressure supporting system liquidity and the State Bank of Vietnam continuing its loose monetary policy.

TB (according to VnExpress)

Source: https://baohaiduong.vn/lai-suat-tiet-kiem-tang-manh-400404.html