Many banks have adjusted up savings interest rates by 0.2-0.3% per year since early this months to lure depositors in the context that the savings amount at the banking system has declined for the first time after 25 consecutive month increase.
A decrease in deposit interest rates has been recorded in a number of banks from the beginning of April.
Deposit interest rates are expected to remain low until the middle of 2024, with a slight increase anticipated thereafter due to higher credit demand, analysts said.
VOV.VN - The domestic SJC gold price on March 9 morning continued its upward trajectory, reaching VND82.2 million per tael to surpass its all-time records.
VOV.VN - Domestic gold prices set a new record on March 7 as they hit VND82 million per tael for SJC gold bars and VND68.8 million per tael for gold rings.
VOV.VN - Vietnam will enjoy favourable conditions to fuel its economic recovery this year despite the global moderate growth forecast, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam.
Deposit interest rates at four major banks of Vietnam were adjusted sharply, down by 0.4% per year from the previous listings, bringing the rate to 1.8% per year at the lowest.
Savings interest rates have set a new record low of only 1.9% per year for a 1-2-month term.
Deposit interest rates at four major banks of Vietnam have been adjusted sharply, down by 0.2-0.4% per year from the previous listings, bringing the rate to 2.2% per year at the lowest.
The race to lower deposit interest rates among banks is expected to continue until the end of 2023, according to analysts.