Statistics of the general Statistical Office (GSO) showed that as of March 20th 2019, the total means of payment increased by 2.54 percent compared to the end of 2018 (up by 3.23 percent compared to the same period of 2018). The mobilisation growth of credit institutions (CIs) was 1.72 percent (2.2 percent compared to the same period of 2018), and credit growth of the economy was 1.9 percent (2.23 percent compared to the same period of 2018).
According to the GSO, some commercial banks have recently increased medium and long-term interest rates to restructure the mobilisation fund, complying with the requirement of the State Bank of Vietnam (SBV).
The current mobilisation interest rates in dong are currently popular at 0.5 percent to one percent per annum for non-term deposits and deposits with terms of less than one month; 4.5 percent to 5.5 percent per annum for deposits with terms from one month to six months; 5.5 percent6.5 percent per annum for deposits with terms from six months to less than 12 months; and 6.6 percent7.3 percent per annum for deposits with terms from 12 months and more.
The lending interest rates in dong are ranging around six to nine percent per annum on short terms, and nine to 11 percent per annum on medium and long-term. The credit structure continues to focus on priority business sectors, key and central projects under the government’s policy to effectively support the economic growth.
