The momentum of increasing savings interest rates gradually "brakes slowly"
According to Lao Dong's records, 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 rekindled interest rate cuts. Since the beginning of August, the market has recorded up to 3 banks adjusting "upstream" to reduce interest rates. Accordingly, the banks that reduced interest rates were mostly banks that previously had the second highest interest rates in the market such as ABBank, Bac A Bank, and SeABank.
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.
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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 18, 2024
