Savings interest rates increase and decrease
According to Lao Dong's records, as of August 15, the market recorded 12 banks increasing savings interest rates including: Eximbank, ACB, Agribank, Sacombank, Saigonbank, VietBank, TPBank, CBBank, VIB, Dong A Bank, VPBank, Techcombank.
Listed banks increased an average of 0.3 - 0.3 percentage points at all terms, especially at 6-month and 9-month terms; Some banks increased by 0.8 percentage points, for example Sacombank.
August interest rates recorded a major bank in the Big4 group increasing interest rates, Agribank. According to records, Agribank interest rates increased by 0.1 - 0.2 percentage points at all terms; currently fluctuates between 1.7 - 4.8%/year.
On the contrary, the savings interest rate market in August also recorded 3 banks reducing savings interest rates.
ABBank's listing decreased by 0.1 - 0.3 percentage points in most terms; SeABank also listed a 0.25 percentage point reduction in interest rates at all terms; Bac A Bank interest rates also recorded a decrease of 0.1 - 0.2 percentage points.
(See more high interest rates HERE )
Will savings interest rates continue to increase?
Experts predict that upward adjustments 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 loan needs in the last months of the year.
Dr. Nguyen Tri Hieu - economic expert - said: "In the next half of the year, with production and business activities improving, banks will lend more aggressively. With this scenario, banks will increase deposit interest rates".
Some experts believe that deposit interest rates by the end of the year may increase by 0.5% to 1%. Loan interest rates will accordingly increase. However, with the Government's direction, the State Bank will still maintain a loose monetary policy, requiring a reduction in output interest rates to ensure support for businesses to recover production and business, so interest rates Loans are forecast to only increase slightly in the near future.
Details of deposit interest rates at banks, updated on August 15, 2024
