The deposit growth rate of individual customers at banks slowed last year due to the impacts of the pandemic.

Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).

Deposit interest rates at commercial banks will continue to decrease and remain at low levels in the coming months, analysts forecast.

Real estate businesses in Ho Chi Minh City are gingerly reopening, mostly consulting and carrying out transactions online due to the COVID-19 prevention and control regulations still in force.

The banking sector will provide enough credit to businesses at supportive interest rates this quarter to help revive them, according to the State Bank of Vietnam’s Ho Chi Minh City branch.

The State Bank of Vietnam (SBV) will keep the current deposit interest rates and lending rates unchanged until the end of this year to ensure the banking system’s liquidity and benefits for depositors.

Many businesses suggested more detailed policies should be issued to help them access bank loans as there remain difficulties in lending.

The Ho Chi Minh City People’s Committee has made several suggestions for the Ministry of Finance’s decree to support businesses and individuals affected by the COVID-19 pandemic, including ensuring bank lending rates are no more than 2% higher than deposit interest rates.

Banks have been promoting the mobilisation of medium- and long-term capital through bond issuance to meet the State Bank of Vietnam (SBV)’s requirements on capital adequacy ratio (CAR).

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