Vietnam banks keep savings rates near 7% as fraud warnings rise

On June 7, Vietnam’s leading commercial banks listed term‑deposit rates of up to 7% per year for maturities of six to twelve months. MBV leads with a uniform 7% rate for 6‑, 9‑, 12‑ and 18‑month deposits, while PGBank and VIB also offer 7% for 12‑month terms. The four state‑owned banks – Agribank, BIDV, Vietcombank and VietinBank – maintain a common schedule of 4.75% for 1‑ and 3‑month deposits, 6.6% for 6‑ and 9‑month, and 6.8% for 12‑ and 18‑month deposits. Other banks range between 6.5% and 6.95%, with a few offering lower rates down to about 3.7% for longer terms.

Banks in the “Big 4” group also run promotional schemes that can raise effective yields to 7.5‑8% per year, but regulators warn that fraudulent operators are exploiting the high‑interest environment. Scams typically lure victims with promises of 8‑9% or higher returns, using fake flyers, forged logos, QR codes and deceptive online groups. Victims are urged to verify offers and avoid any scheme that guarantees unusually high, risk‑free returns.