Bank deposits hit record highs as interest rates stay low

Bank deposits hit record highs as interest rates stay low

Deposits from individual customers continued to hit a new peak of nearly VNĐ7.75 quadrillion, up 9.68 per cent compared to the end of 2024.

Deposits from institutional customers reached more than VNĐ7.98 quadrillion, up 4.04 per cent compared to the end of 2024. Photo cafef.vn

Deposits from individual and institutional customers of credit institutions (CIs) reached nearly VNĐ15.73 quadrillion (US$598 billion) by the end of July, the latest data from the State Bank of Vietnam (SBV) showed.

Deposits from individual customers continued to hit a new peak of nearly VNĐ7.75 quadrillion, up 9.68 per cent compared to the end of 2024. In July alone, deposits from this group increased by about VNĐ54 trillion.

Deposits from institutional customers reached more than VNĐ7.98 quadrillion, up 4.04 per cent compared to the end of 2024. Compared to the end of June 2025, corporate deposits decreased by VNĐ127.52 trillion.

According to SBV reports, in July the average đồng deposit interest rate at domestic commercial banks was 0.1-0.2 per cent per year for non-term deposits and deposits with terms of less than one month; 3.3-4.0 per cent per year for deposits with terms from one month to less than six months; 4.6-5.5 per cent per year for deposits with terms from six months to 12 months; 4.9-6.1 per cent per year for deposits with terms from over 12 months to 24 months; and 6.9-7.3 per cent per year for deposits with terms over 24 months.

In a newly released currency market report, analysts at MB Securities Company (MBS) assessed that the interest rate level remains generally low, in line with Government and SBV policies to support growth.

MBS forecasts that the 12-month term deposit interest rate will remain stable at 4.8 per cent until the end of 2025, although it may come under some pressure if credit growth increases rapidly, estimated at 20.19 per cent for the whole year, the highest level in more than a decade. 

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