Volatile Interest Rates and Strong Deposit Growth: Banking Trends July 2025

According to the latest statistics of the Vietnam Banks Association (VNBA), a number of banks have just adjusted their deposit interest rates upward from the beginning of July 2025.

Specifically, VPBank increased interest rates by 0.1 percentage points for terms from 1 month to 36 months, with the highest rate of about 5.7% - 5.8%/year applied to deposits of VND 10 billion or more, with terms of 24 - 36 months. Techcombank also increased interest rates by 0.1 - 0.2 percentage points, bringing the highest rate to about 4.85% - 5%/year for long terms. VCBNeo digital bank (under Vietcombank) increased interest rates by 0.1 percentage points for terms of 1 - 6 months; currently the highest rate here is 5.45%/year for terms of 13 months or more.

According to MBS Securities Company, the downward trend in deposit interest rates has slowed down in June. Only a few banks continued to reduce their rates, with a very small margin. By the end of June, the average 12-month term interest rate at joint stock commercial banks decreased by 0.17 percentage points compared to the beginning of the year, to 4.87%. Meanwhile, the group of state-owned commercial banks remained stable at 4.7%.

Despite low interest rates, the flow of deposits from people has grown continuously over the past 15 months. As of April 2025, the total deposits in the banking system of individual and institutional customers exceeded 15 million billion VND. Savings deposits of people alone reached more than 7.53 million billion VND, an increase of nearly 6.7% compared to the end of 2024.

In the first four months of the year alone, people have deposited nearly VND500,000 billion worth of idle money into banks. Mr. Nhat Minh (living in Ho Chi Minh City) said that although the interest rate is not high, he still sets aside about 1/3 of his investment portfolio for savings because this is a safe channel with less risk than stocks or real estate.

Experts predict that deposit interest rates may increase slightly at the end of the year when credit improves. Meanwhile, lending interest rates will likely remain stable thanks to the State Bank's direction on reducing operating costs and supporting businesses and the economy .

Source: https://nld.com.vn/lai-suat-bien-dong-tien-gui-tang-manh-196250721205428836.htm