After the Prime Minister's telegram and the State Bank's move, many credit institutions adjusted their deposit interest rates. As of March 7, 16 joint stock commercial banks had reduced interest rates by 0.1 to 0.9% per year depending on the term. Banks tend to reduce interest rates in many forms: Counter deposits, online deposits, savings deposits for members, payment deposits, etc. The time to apply the reductions is spread from the end of February to the beginning of March 2025 and mainly focuses on medium and long-term terms, from 6 to 36 months. Notably, mobilization interest rates in many terms have fallen below 6%/year, creating conditions for lending interest rates to have room to decrease further in the coming time.

The movement of reducing mobilization interest rates shows that the flexible adjustment of commercial banks following the direction of the State Bank not only helps control unhealthy competition in the banking system, but also contributes to stabilizing the financial market, supporting the economic growth target.