Domestic deposit interest rates at commercial banks have remained relatively stable since the beginning of the year, according to the State Bank of Vietnam (SBV).

Since early July, some commercial banks have moved to slightly lower their rates.

Since early July, some commercial banks have moved to slightly lower their rates.

Bac A Bank reduced deposit rates by 0.1 percentage point across all terms and deposit types. VIB cut its 36-month counter rate by 0.1 percentage point for deposits ranging from 1 billion VND (38,248 USD) to below 5 billion VND.

Meanwhile, Bao Viet lowered its rates by between 0.15 and 0.2 percentage point per annum for terms of six to 13 months.

This follows similar adjustments by other financial institutions.

LPBank cut online deposit rates by 0.2 percentage point for terms ranging from 18 to 60 months, while the National Citizen Bank (NCB) reduced rates by 0.1 percentage points depending on the term, aiming to maintain competitiveness in capital mobilisation.

These changes are seen as part of a broader strategy to balance capital costs and create room for future lending rate reductions.

Of the Big 4, Agribank currently offers some of the most competitive online savings rates among the Big 4 banks, with 1–18 month terms ranging from 2.4 to 4.8% per annum. Its highest rate is 4.9% for a 24-month term, equal to BIDV but slightly below VietinBank’s 5%.

Vietcombank offers VND deposit rates from 0.20% for non-term deposits to up to 4.70% for 12–48 month terms, with similar rates for businesses. Preferential loans include home loans from 3.99% (valid until 31 March 2026) and salary-based loans from 6.0 to 7.5%.

Short-term business loans start at 4.6%, with green SME loans from 4.2%. Fixed rates for mortgages, car and consumer loans range from 5.5 to 5.7%, while longer-term packages under the “An tam lai suat” (Peace of Mind Interest Rate) programme offer 6.2–9.5%.

Lending rates continue to fall, with the average new rate now at 6.23%, down 0.7 percentage points since late 2024, easing access to credit and supporting economic growth.

In practice, the approach of maintaining stable deposit rates while gradually lowering lending rates reflects the banking sector’s efforts to balance the interests of depositors and borrowers.

This dual approach supports capital mobilisation while fostering a more favourable environment for economic activity, particularly for small- and medium-sized enterprises, which continue to seek affordable financing to sustain operations.

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