Many banks are continuing to cut deposit and lending rates after urgent directives from the Government and the State Bank of Vietnam, and the trend is expected to last through 2026. VPBank will cut lending rates by 1.5% from 26 October for individuals in 6 priority sectors and for SMEs borrowing working capital, and it lowered some online deposit rates by 0.5% from 20 October, with a 10,000 billion VND quota. SACOMBANK has launched a 20,000 billion VND package with 1.5-2% annual rate cuts for individuals, after earlier cutting deposit rates by 0.5% per year for terms of 6 months or more and offering a 40,000 billion VND package with 2% annual cuts for businesses. Vietbank has launched a 3,000 billion VND package with rates at least 1.5% per year lower, valid until 30 June 2027 or until the quota is used up. A plastics company in Ho Chi Minh City said a 2.5 billion VND loan now carries a rate 1.5% per year lower, and an economist said lower rates help businesses free up cash flow.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Làn sóng giảm lãi suất ngày càng sôi động, có ngân hàng đã hạ nhiều lần
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interest ratesbanksState Bank of Vietnamcreditbusinesses
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/23/2026 | 1,774.15 |
| Change that session | +0.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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Vietnamese banks have begun cutting deposit rates under a State Bank of Vietnam directive, with over 20 banks reducing rates as of October 22, though lending rates remain high. SBV Governor Phạm Đức Ấn asked banks to cut lending rates by 1.5-2 percentage points a year for production, business and priority sectors, and deposit rates by at least 0.5 percentage points for terms of six months or longer. Banks that fail to comply could face lower credit growth targets, and the central bank will monitor average rates on new transactions in the final months of 2026. As of end-September, average individual lending rates ranged from 7.73 per cent at BIDV to 11.38 per cent at OCB. Expert Nguyễn Đức Độ said high funding costs remain a major obstacle and suggested transparent interest subsidies funded by the state budget.
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- State Bank of Vietnam issues new directive on interest rates
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