Vietnamese bank savings rates show significant variation

As of early October, savings interest rates across 35 Vietnamese banks show significant differentiation based on term length and institution. ACB currently offers the highest rates, with 7.8% per annum for a 12-month term, 7.7% for 9 months, and 7.6% for 6 months.

Sacombank follows with competitive rates, including 7.5% for 12-month terms and 7.5% for 18-month terms. Other notable high-rate providers include LPBank, Saigonbank, and VPBank. In contrast, the ‘Big 4’ state-owned banks—Agribank, BIDV, Vietcombank, and VietinBank—maintain a consistent rate of 6.8% per annum for 12-month deposits.

At the lower end of the spectrum, SCB reported the lowest surveyed rate at 3.7% for a 12-month term. The gap between the highest and lowest rates for the same term stands at approximately 4.1 percentage points.