household deposits <\/a>jumped by over VND3.4 quadrillion ($130 billion), from VND7.8 quadrillion ($299 billion) to VND11.22 quadrillion ($431 billion).<\/p>\nMeanwhile, deposits held by economic organizations stood at around VND6.24 quadrillion ($239 billion) at the end of July, up 0.98 percent from the end of last year.<\/p>\n
However, corporate deposits fell by approximately VND130.7 trillion ($5 billion), or more than two percent, compared with June.<\/p>\n
Analysts attributed the surge in household savings to attractive deposit rates.<\/p>\n
According to the Ministry of Finance\u2019s socio-economic report for the first eight months of the year, actual interest rates for 12-month deposits stood at 8.8-9.5 percent per year at the end of July, above the rates officially listed by banks.<\/p>\n
Lending rates have also risen.<\/p>\n
As of August 20, the average interest rate on new loans was 8.93 percent per year, up 0.85 percentage point from the end of last year.<\/p>\n
Mortgage and other real estate lending rates were commonly 10-12 percent per year, while average rates at some banks were recorded at 14-15 percent.<\/p>\n
Credit growth has also accelerated.<\/p>\n
The central bank said total outstanding loans across the banking system reached approximately VND20.5 quadrillion ($786 billion) as of August 28, up 10.24 percent from the end of 2025.<\/p>\n
This means bank credit has expanded by more than 10 percent since the beginning of the year, compared with an increase of about 8.6 percent in household deposits.<\/p>\n
Nguyen Thuong Lang, associate professor at the Hanoi-based National Economics University, told Tuoi Tre (Youth) online newspaper that deposit rates around nine percent for terms over six months are quite attractive for households with idle funds.<\/p>\n
He added that savings remain a safe and profitable option amid economic challenges.<\/p>\n
Banking experts expect deposit rates to stay high as demand for capital continues to rise.<\/p>\n
Meanwhile, credit growth is outpacing deposit growth, leaving a gap of more than VND1.5 quadrillion ($57 billion) between loans and mobilized capital.<\/p>\n","protected":false},"excerpt":{"rendered":"Household deposits in Vietnam set a new record at VND11.22 quadrillion (US$430.9 billion) by the end of July…\n","protected":false},"author":2,"featured_media":901084,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[62678,45,49,48,46,311704,311705],"class_list":["post-901083","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bank-deposits","tag-business","tag-ca","tag-canada","tag-economy","tag-household-deposits","tag-state-bank-of-vietnam"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/901083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=901083"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/901083\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/901084"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=901083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=901083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=901083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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