Many banks offer effective interest rates of 7% - 8%.
On January 17th, according to observations by reporters from the Nguoi Lao Dong newspaper, deposit interest rates continued their upward trend across many maturities, especially those of 6 months or more. Accordingly, interest rates of 7-8% per year are becoming increasingly common, not only at small banks but also at some medium-sized banks, with more flexible deposit conditions than before.
Specifically, among digital banks, Cake by VPBank is offering the highest interest rate of 7.1% per year for deposits of 6 months or more, with a minimum deposit of just 100,000 VND. Notably, first-time depositors receive an additional 0.9 percentage points, raising the maximum interest rate to 8% per year.
In addition, Cake is also implementing a program offering direct cash bonuses, ranging from VND 55,555 to VND 55,550, applicable to customers depositing from VND 100 million to VND 10 billion, with a minimum term of 6 months and without early withdrawal.
National Commercial Bank (NCB) is also implementing a policy of offering a significant additional interest rate for customers depositing savings online through its digital banking application. The additional rate can reach up to 2 percentage points compared to the regular interest rate and applies to terms of 1 month or more. As a result, the interest rate for deposits with terms of 6-8 months at NCB reaches up to 8.2%/year, while terms of 12 months or more reach a maximum of 8.3%/year. This promotional program is valid until the end of January 2026.
Deposit interest rates have recently edged up.
Some places offer rates as high as 9% per year, subject to special conditions.
Not only at digital banks, but also at many other commercial banks, the actual interest rate that customers receive when depositing savings for 6 months or more has exceeded 7% per year, significantly higher than the publicly listed rate.
Ms. Thanh Tam, residing in Ho Chi Minh City, said that when surveying online savings accounts at several banks recently, she noticed a significant increase in interest rates. "Some banks listed a 6-month interest rate of only 5.8%/year, but if you deposit from 50 million VND, you can enjoy up to 7.4%. A smaller bank even offered 7.6%/year for deposits from 100 million VND and up to 8%/year for deposits of 500 million VND, also with a 6-month term," Ms. Tam shared.
Reporters from the Nguoi Lao Dong newspaper also noted that at several other joint-stock banks, branch managers said that customers depositing for 6 months or more can absolutely enjoy interest rates above 7% per year, while the official listed rate is only around 5.2%.
There are a few exceptional banks that offer very high interest rates but with special conditions regarding deposit size. For example, PVcomBank currently offers a special savings interest rate of up to 9% per year for 12-13 month terms when depositing at the counter, provided a minimum balance of 2,000 billion VND is maintained.
Banks like MSB, HDBank , and Vikki Bank also offer interest rates from 8–8.4% per year, but require a minimum deposit of 500 to nearly 1,000 billion VND.
According to the January 2026 macroeconomic update report published by MBS Securities, in December 2025, an additional 14 commercial banks increased deposit interest rates across all maturities. This sharp increase in interest rates reflects the growing demand for capital to meet the increasing demand for credit towards the end of the year, following seasonal cycles. The average 12-month deposit interest rate at commercial banks was 5.7%, an increase of 0.68 percentage points compared to the beginning of last year.
According to Yuanta Securities Vietnam, the upward trend in deposit interest rates may continue for the first one to two quarters of this year, although slowing credit growth will reduce pressure on deposit interest rates.
Source: https://nld.com.vn/nhung-ngan-hang-nao-dang-co-lai-suat-tiet-kiem-cao-nhat-thi-truong-196260117135231225.htm
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