Household deposits in the banking system continued to rise by over VND 103.8 trillion in just one month, while corporate deposits also increased by more than VND 158 trillion in March.

According to data recently released by the State Bank of Vietnam (SBV), as of the end of March, total deposits from both individual and institutional customers at credit institutions (CIs) reached nearly VND 15 quadrillion, an increase of 1.83% compared to the previous month.

Of this amount, household deposits reached nearly VND 7.5 quadrillion, marking a 5.73% increase compared to the beginning of the year. In March alone, household deposits increased by approximately VND 103.8 trillion.

Corporate deposits totaled VND 7.52 quadrillion, a decrease of 1.92% compared to the end of 2024. However, compared to the end of February, corporate deposits increased by more than VND 158 trillion.

Additionally, SBV reported that total means of payment as of the end of March reached over VND 18.45 quadrillion, an increase of nearly 3% from the beginning of the year.

In the early months of 2025, deposit growth has lagged behind capital mobilization. According to data from the General Statistics Office, as of March 25, 2025, mobilized capital at credit institutions increased by 1.36% (compared to a decrease of 0.76% in the same period in 2024); credit growth for the economy reached 2.49% (compared to 0.26% in the same period in 2024).

In its June strategic report, Saigon – Hanoi Securities JSC (SHS) noted that as of May 20, 2025, credit growth for the entire system had reached 5.72% year-to-date.

The analysis team considered this a notable increase compared to the same periods in previous years, highlighting it as a key positive factor helping to absorb part of the excess liquidity.

As of the end of March, the average interest rate on VND deposits at domestic commercial banks stood at 0.1–0.2% per year for non-term and under-1-month term deposits; 3.1–4.0% per year for term deposits from 1 to under 6 months; 4.5–5.4% per year for terms from 6 to 12 months; 4.8–6.0% per year for terms from over 12 months to 24 months; and 6.9–7.1% per year for terms over 24 months.

Kylie Nguyen