Vietnamese banks offer varying savings rates for mid-October

Savings interest rates across several Vietnamese banks show significant differences for 6, 9, and 12-month terms. For a deposit of 400 million VND, Vietcombank offers a maximum interest of 23.6 million VND for a 12-month term at a 5.9% annual rate. NCB provides a higher maximum of 24.8 million VND for the same term at 6.2% per annum.

BAC A Bank offers even higher rates, with a 12-month term reaching 7.1% per annum, resulting in a maximum interest of 28.4 million VND for a 400 million VND deposit.

Additionally, the rise of digital banking is changing the financial landscape. Digital banks like Cake by VPBank are attracting customers by offering higher interest rates, such as 9.6% per annum under certain conditions, while providing the convenience of remote transactions without the need to visit physical branches.