As of the end of May 2025, credit for the entire economy had increased by 6.52%, significantly higher than the 2.41% recorded during the same period in 2024, according to data from the State Bank of Vietnam.

This notable credit growth supports the goal of achieving a minimum economic growth rate of 8% this year.

At the same time, interest rates remain at low levels. As of June 9, deposit interest rates for terms of 1–3 months ranged from 1.6% to 4.2% per annum, while rates for 6–9 month terms were between 2.9% and 5.45% per annum. The 12-month term rate typically stood between 3.7% and 5.6% per annum.

Regarding lending rates, as of April 10, the average lending rate for newly originated bank transactions stood at 6.34% per annum, down by 0.6 percentage points compared to the end of 2024.

Since late February 2025, banks have simultaneously lowered deposit rates, creating favorable conditions for reducing lending rates and supporting business recovery in production and operations.

In parallel, the banking sector has been implementing preferential credit packages for five priority sectors with lending rates not exceeding 4% per annum, enabling numerous small and medium-sized enterprises, exporters, and high-tech firms to access low-cost funding.

Policy-driven credit programs such as social housing loans, disbursement of credit packages for forestry and fisheries, and housing loans for individuals under 35 years old are helping stimulate production and business activities, contributing to the recovery of the real estate market.

Most recently, the State Bank of Vietnam issued Official Dispatch No. 4290 to nine commercial banks to implement a preferential loan package for young people under the age of 35 to buy housing.

Accordingly, at the time of signing the loan agreement, customers under 35 years old purchasing social housing will enjoy an interest rate 2 percentage points lower than the average medium- and long-term VND lending rate of the four state-owned commercial banks (Agribank, BIDV, Vietcombank, and Vietinbank) during the first five years of the loan term (from the date of the first disbursement).

The preferential interest rate applied until June 30, 2025, is 6.1% per annum.

For the following 10 years of the loan term, the lending rate will be 1 percentage point lower than the average medium- and long-term VND lending rate of the four state-owned commercial banks.

Kylie Nguyen