Deposit rates increase, banks seek to stabilize lending rates

Interest rate Deposits increased mainly in the bank medium and small. 12-month term interest rates range from 5.6 – 7%/year. Rising interest rates have attracted many people back to depositing money at commercial banks.

To avoid putting pressure on lending rates, banks said they had to balance the increase in input interest only at necessary terms. In addition, the large state-owned commercial banks, accounting for three-quarters of the market share, still keep interest rates low, so the increase in small banks is not expected to have too great an impact on the general market. .

Deposit rates increased, banks sought to stabilize lending rates. Illustration.

In addition, banks are also promoting digitization, seeking to reduce capital costs by increasing the amount of demand deposits at Casa. This is the money left in people’s current accounts with low interest rates, only about 0.2%/year. Therefore, it will be an important factor to help banks reduce the cost of capital input.

Experts also expect that Decree 31 of the Government, recently issued on support of 2% interest from the state budget for loans of enterprises, cooperatives and business households, will also create a spillover. helping to reduce lending interest rates in the market.

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