Why do some bank depositors not care about interest rates?

Without taking the time to check the interest rate framework to compare and weigh the pros and cons between banks, a large number of people with idle money now deposit money out of habit.

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Unlike those who work in the profession and have knowledge about banking, a large number of people, mainly retirees, deposit money out of habit instead of going to the official websites of banks to compare interest rates.

Because for many people, high or low interest rates are no longer a concern, instead, it is the familiarity of relatives who persuade them, being a regular customer, going to whichever bank they are familiar with to deposit money, or where they feel the service is good, they like to deposit there.

By chance, we had the opportunity to meet a customer at the transaction office on Doi Can street, Mr. Mien Thanh, a retired officer happily shared, "I used to work in the maritime industry, so when I have savings, I still prioritize depositing them in Maritime Bank. I don't care about high or low interest rates, it's a long-standing habit."

Or another fact shows that people with idle money have the habit of depositing in large, reputable, stable, long-standing, and safe banks such as the state-owned banks: Agribank, VietinBank, BIDV, Vietcombank, even though they accept lower interest rates. That is the reason why statistics in financial statements show that the amount of customer deposits at large banks still far exceeds that of lower-ranked banks. Why is that?

According to the crowd psychology, people are still afraid of losing money if they accidentally deposit money in a group of small, weak banks. However, the reality is that no matter which bank they deposit money in, the depositor's rights are always guaranteed, and the State Bank will protect the legal rights of depositors.

Which bank is the most profitable?

Ms. Binh (Dong Da, Hanoi) said that she has always deposited her savings in big banks because she believes that if "something happens", small banks will be more vulnerable, so she just deposits in big banks to be safe.

However, recently, after learning more about the market, especially having more confidence in the liquidity of small banks, Ms. Binh boldly deposited money in these banks to enjoy higher interest rates.

According to the writer's statistics, not only small-scale banks but also "zero-dong banks" and specially controlled banks have pushed interest rates to high levels and are always in the top 5 banks with the most attractive interest rates today. This is also understandable because these banks are in a state of capital shortage and want to build trust from customers.

Meanwhile, the interest rates of large state-owned banks have always been 1-1.5% lower per year and that gap is widening.

According to internet