Despite lower interest rates, bank savings are still considered a safe option by many investors as other investment channels have become more risky due to the COVID-19 pandemic.

Interest rates for savings in Vietnamese dong with terms of six months to over one year are two to three percent higher than short-term savings. That’s why many people are opting for medium and long term savings. Besides, online savings accounts are also offering higher interest.

Lower savings’ interest rates aim to facilitate decreasing lending interest rates, for which local enterprises are longing for amid the complicated developments of the COVID-19 pandemic./.