The Vietnam Bank for Social Policies (VBSP) is reducing the lending interest rates for its credit programmes to support the people in overcoming difficulties and stabilising their lives, effective from December 1, 2025.

The total social investment capital disbursed during January – September rose 6.8% to some VND2.42 quadrillion (US$97.2 billion) on the back of a fall in lending interest rate, robust production growth, and the continuation of tax incentives, according to the General Statistics Office (GSO).

As of June 30, credit expanded 6% compared to the end of 2023 while total outstanding loans approximated VND14.4 quadrillion (US$563.3 billion), a positive signal showing this year's credit growth target of 14 - 15% is within reach, experts said. ​

Credit within the banking system to the end of May 2024 increased by only 2.41% against the end of 2023, far from the credit growth target, the Government reported.

A decrease in deposit interest rates has been recorded in a number of banks from the beginning of April.

Since the beginning of the year, numerous banks have launched attractive credit packages with low interest rates, some even as low as 0% per year, easing the financial burden for customers seeking additional capital, particularly during the time leading up to Tet (Lunar New Year holiday).

Credit growth will be the main focus for the banking industry in 2024, as it is closely related to economic growth, according to analysts.

Savings interest rates have set a new record low of only 1.9% per year for a 1-2-month term.

Commercial banks have persistently reduced deposit interest rates, resulting in rates for many terms now standing at just above 6% per annum.

The State Bank of Vietnam (SBV) has cut regulatory interest rates for four consecutive times since the beginning of this year, in the context that world interest rates continue to rise and stay at a high level.