The deposit interest rates at major banks has continued to decrease since the beginning week of September.

The Vietnam Association of Financial Investors (VAFI) has proposed gradually lowering the VND deposit interest rate to zero percent.

Demand for deposits by individuals have increased significantly in recent months as people tended to switch to cashless payment methods, especially in the context of the COVID-19 pandemic.

Vietnam’s stock market is expected to continue to grow, helped by strong economic growth and increasing local liquidity. The positive outlook will attract foreign investors back to the market, according to HSBC.

VOV.VN - As the nation’s first automaker, VinFast is now officially taking pre-orders for its first-ever electric model VF e34, with the vehicle being priced at VND690 million.

Though some banks increased their deposit interest rates early this month, it is not a common trend and the rate currently is still at the lowest level it has been in many years.

Competition among banks to lure demand deposits is becoming fiercer as the cheap capital source helps banks increase their net interest income (NIM) ratio.

Credit rating agency Moody's recently announced its rating upgrade on Agribank's long-term foreign-currency deposit rating from B1 to Ba3.

The Bank for Investment and Development of Viet Nam (BIDV)'s foreign-currency deposit rating has been raised from B1 to Ba3 by Moody’s.

The State Bank of Vietnam (SBV) has extended the credit growth limits for the second time this year to some commercial banks, of which the highest level is up to 30%.