HANOI, May 27 (Xinhua) -- Vietnam's deposit interest rates are forecast to increase by 0.5 to 1 percentage point in the second half of this year, placing the rate at over 6 percent per year, Vietnam News reported Monday, citing industry experts.
The anticipated rise aligns with trends in international markets, with bank deposits expected to provide similar yields to other asset classes, they said.
Experts attributed the increase in deposit interest rates to the recovering credit demand in the market.
As most lenders have raised deposit rates across various terms since the start of May, experts foresee this upward trend continuing throughout the year, said the report.
The current rate for a six-month deposit in Vietnam is 5 percent per year, while a 24-month deposit is already 6 percent per year, up 0.5 percentage points from the previous month. ■
