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Economy

Top Banks Offering 12-Month Deposits with Interest Rates Above 8%

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy


vietnamese Banks Offer High Deposit rates in October 2025

Table of Contents

Hanoi, Vietnam – Several Vietnamese Banks are currently enticing depositors with elevated Interest Rates, as of October 30, 2025. These competitive offerings reflect a dynamic financial landscape aimed at attracting savings and bolstering economic growth.

Leading Banks and Their Offers

Currently, PVcomBank stands out with an remarkable rate of up to 9% annually for 12-month deposits, however, this rate requires a significant minimum deposit of VND 2 trillion. Customers depositing online with PVcomBank can generally anticipate a maximum rate of 5.1% for the same duration, while over-the-counter deposits receive 5%.

HDBank follows closely,providing a 7% annual rate for 12-month tenures,contingent upon a minimum balance of VND 500 billion. The bank advertises a standard online deposit rate of 5.6% and an over-the-counter rate of 5.5% for 12-month maturities.

VPBank and Vikki Bank Compete

Cake by VPBank and Vikki Bank are also prominent players in the high-yield deposit market. Cake by VPBank currently lists a top rate of 6.301% per year for 12-month deposits with interest paid upon maturity. Interest paid monthly, quarterly, or bi-annually will yield rates of 5.64%, 5.88%, and 6.02% respectively.

Vikki Bank is offering a maximum interest rate of 6.1% per year for 12 to 13-month deposits made online and with interest paid at maturity.

GPBank’s Competitive Rates

GPBank is also attracting customers with a maximum interest rate of 8.55% for 12-month online deposits, with interest paid at maturity. For deposits between 12 and 36 months with maturity interest, GPBank currently offers 1.05% per annum.

Comparing Deposit Rates

Bank Maximum 12-Month Rate Minimum Deposit (if applicable) Online Rate Over-the-Counter Rate
PVcomBank 9.0% VND 2 trillion 5.1% 5.0%
HDBank 7.0% VND 500 billion 5.6% 5.5%
cake by VPBank 6.301% N/A Variable Variable
vikki Bank 6.1% N/A 6.1% N/A
GPBank 8.55% N/A 8.55% N/A

Did You Know? Interest rates can vary significantly based on the deposit amount and the chosen payment frequency. Carefully compare offers from different banks to maximize your returns.

Pro Tip: Consider the tax implications of your deposit interest. In Vietnam,interest income is subject to a 10% tax,which will impact your net earnings.

Understanding Deposit Interest Calculations

Calculating deposit interest is straightforward. The standard formula is: Interest = Deposit Amount x Interest Rate % / 12 x Number of Deposit Months. For instance, a deposit of VND 200 million at an annual interest rate of 5.95% for 12 months would yield VND 1 million in interest. Similarly, a VND 400 million deposit at a 6% annual rate would generate roughly VND 8 million in interest.

It is significant to remember that these rates are subject to change. Banks regularly adjust their offerings based on market conditions and internal policies. Always verify the current rates directly with the bank before making a deposit.

Frequently Asked Questions About Vietnamese Deposit Rates

  • What is the highest deposit rate currently available in Vietnam? PVcomBank currently offers the highest advertised rate of 9% annually, with a large minimum deposit.
  • How does deposit amount affect interest rates? Typically, larger deposits qualify for higher interest rates.
  • What is the impact of choosing monthly vs. annual interest payments? Monthly payments frequently enough result in slightly lower overall returns due to compounding effects.
  • Are deposit rates taxable in Vietnam? Yes, interest income earned on deposits is generally subject to a 10% tax.
  • Where can I find the most up-to-date deposit rates? Check directly with individual banks or reputable financial news sources.

Are you planning to open a new savings account? Which bank’s current offer seems most appealing to you, and why?


What are the minimum deposit requirements for the top 12-month CD rates currently available?

Top Banks Offering 12-Month Deposits with Interest Rates Above 8%

Finding the best rates on certificate of deposits (CDs) is crucial for maximizing your savings. As of October 30, 2025, several banks are offering attractive high-yield savings options, specifically for 12-month terms with interest rates exceeding 8%.This article details the best CD rates currently available,helping you make an informed decision. We’ll cover options from online banks, credit unions, and conventional institutions, focusing on fixed rate deposits and their benefits.

Current Top 12-Month CD Rates (october 2025)

Here’s a breakdown of banks currently offering 12-month CDs with rates above 8% APY (Annual Percentage Yield). Note: Rates are subject to change, so verify directly with the bank before depositing.

* Popular Direct: 8.25% APY – Minimum deposit: $500. Known for consistently competitive rates.

* UFB Direct: 8.15% APY – Minimum deposit: $1,000. Offers a straightforward online banking experience.

* bask Bank: 8.05% APY – Minimum deposit: $2,500. Unique offering of American Airlines AAdvantage® miles as interest.

* CIT bank: 8.00% APY – Minimum deposit: $1,000. Offers a range of banking products alongside CDs.

* Marcus by Goldman Sachs: 7.90% APY – Minimum deposit: $500. Backed by a well-known financial institution.

Understanding APY and CD Terms

Before diving deeper,let’s clarify key terms:

* APY (Annual Percentage Yield): The actual rate of return earned on a deposit,taking into account compounding interest. Always compare apys, not just interest rates.

* CD Term: The length of time you agree to keep your money deposited. 12-month CDs mature after one year.

* Early Withdrawal Penalty: Most CDs charge a penalty for withdrawing funds before the maturity date. This penalty can erode your earnings.

* Compounding Frequency: How often interest is calculated and added to your principal. More frequent compounding (e.g., daily) results in slightly higher earnings.

Online Banks vs. Traditional Banks: Wich Offers Better Rates?

Generally, online banks tend to offer higher CD interest rates than traditional brick-and-mortar banks. This is because they have lower overhead costs – no branch networks to maintain. However, traditional banks may offer benefits like in-person customer service.

Here’s a swift comparison:

Feature Online Banks traditional Banks
Interest Rates Typically Higher Typically Lower
Fees Generally Lower Can be Higher
Convenience 24/7 Online Access Branch Access
customer Service Online/Phone Support In-Person Support

Credit Unions and High-Yield CDs

Don’t overlook credit unions! Many credit unions offer competitive high-yield CDs, often with a focus on member benefits. Membership requirements vary, so check eligibility. Some credit unions to investigate include:

* Navy Federal Credit union: Often features competitive rates for members.

* Alliant Credit union: Known for high-yield savings and CD options.

* PenFed Credit Union: Offers a variety of deposit accounts with attractive rates.

Benefits of Locking in a 12-Month CD Rate

* Guaranteed Return: you lock in a fixed interest rate for the entire term, protecting your savings from potential rate decreases.

* Low Risk: CDs

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Economy

Deposit interest rates continue to soar.

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

VCBNeo Ignites Deposit Rate War: Latest Increases Signal Shifting Savings Landscape

Hanoi, Vietnam – October 15, 2025 – In a move signaling a broader trend across Vietnam’s banking sector, VCBNeo has announced significant increases to its deposit interest rates, effective immediately. This breaking news comes as the fifth domestic bank in early October – alongside GPBank, Vikki Bank, Bac A Bank, NCB – to adjust its interest rate framework, intensifying competition for customer deposits. For savers, this is a welcome development, but understanding the nuances of these changes is crucial for maximizing returns. This article is optimized for Google News and SEO to deliver the most up-to-date information quickly.

VCBNeo’s Rate Hike: A Detailed Breakdown

VCBNeo’s adjustments, ranging from 0.25% to 0.3% per annum, are particularly notable for longer-term deposits. The six-month deposit rate now stands at a competitive 5.9% per year, a substantial 0.3 percentage point increase. Twelve-month terms also see a 0.3% jump, reaching 5.8% annually. Deposits locked in for 13 to 60 months benefit from a 0.25% increase, also settling at 5.8% per annum. This means VCBNeo now offers a leading online deposit interest rate of 5.8% for terms ranging from 12 to 60 months – its highest to date.

However, VCBNeo is maintaining its existing rates for shorter-term deposits. Currently, these are:

  • 1-2 months: 4.35% per annum
  • 3-4 months: 4.55% per annum
  • 5 months: 4.7% per annum
  • 7 months: 5.6% per annum
  • 8 months: 5.4% per annum
  • 9-11 months: 5.45% per annum

Interestingly, the bank is also adjusting over-the-counter savings rates. Six-month and 12-month over-the-counter deposits now earn 5.6% per year, while 13- to 60-month terms are at 5.7% annually. This difference between online and in-branch rates highlights a strategic push towards digital banking.

The Broader Context: Why Are Rates Rising?

The recent wave of rate increases isn’t happening in a vacuum. Vietnam’s economy is navigating a complex landscape of global economic pressures and domestic growth targets. Banks are actively seeking to attract deposits to fund lending activities and meet regulatory requirements. The fact that short-term rates remain comparatively lower than long-term rates suggests VCBNeo, and potentially other banks, are incentivizing customers to commit their funds for extended periods. This is a classic tactic used to stabilize funding costs and support longer-term lending initiatives.

Historically, Vietnam’s deposit rates have been sensitive to fluctuations in global interest rates and domestic inflation. While inflation remains relatively controlled, the anticipation of potential future increases, coupled with the need to support economic recovery, is likely driving this current trend. Understanding these macroeconomic factors is key to making informed savings decisions.

Comparing Rates: A Snapshot of the Vietnamese Banking Landscape (October 15, 2025)

Here’s a quick overview of deposit rates across several Vietnamese banks as of today:

Bank 1 Month 3 Months 6 Months 9 Months 12 Months 18 Months
Agribank 2.4 3 3.7 3.7 4.8 4.8
BIDV 2 2.3 3.3 3.3 4.7 4.7
Vietin Bank 2 2.3 3.3 3.3 4.7 4.7
Vietcombank 1.6 1.9 2.9 2.9 4.6 4.6
Avantk 3.1 3.8 5.3 5.4 5.6 5.4
ACB 3.1 3.5 4.2 4.3 4.9 –
Invest in a bank 4.2 4.55 5.4 5.45 5.5 5.8
Bao Viet Bank 3.5 4.35 5.45 5.5 5.8 5.9
BV Bank 3.95 4.15 5.15 5.3 5.6 5.9
Export-Import Bank 4.3 4.5 4.9 4.9 5.2 5.7
GP Bank 3.8 3.9 5.35 5.45 5.65 5.65
HD Bank 3.85 3.95 5.3 5.3 5.6 6.1
Kienlong Bank 3.7 3.7 5.1 5.2 5.5 5.45
LP Bank 3.6 3.9 5.1 5.1 5.4 5.4
MB 3.5 3.8 4.4 4.4 4.9 4.9
MBB 4.1 4.4 5.5 5.6 5.8 5.9
MSB 3.9 3.9 5 5 5.6 5.6
South Bank 3.8 4 4.9 5.2 5.5 5.6
NCB 4.1 4.3 5.45 5.55 5.7 5.7
OCB 3.9 4.1 5 5 5.1 5.2
Fiji Bank 3.4 3.8 5 4.9 5.4 5.8
PVCOMBANK 3.3 3.6 4.5 4.7 5.1 5.8
Sacom Bank 3.6 3.9 4.8 4.8 5.3 5.5
Saigon Bank 3.3 3.6 4.8 4.9 5.6 5.8
SCB 1.6 1.9 2.9 2.9 3.7 3.9
Seabank 2.95 3.45 3.95 4.15 4.7 5.45
SHB 3.5 3.8 4.9 5 5.3 5.5
Techcom Bank 3.45 4.25 5.15 4.65 5.35 4.85
TP Bank 3.7 4 4.9 5 5.3 5.6
VCBNEO 4.35 4.55 5.9 5.45 5.8 5.8
baboon 3.7 3.8 4.7 4.7 4.9 5.2
VietA Bank 3.7 4 5.1 5.3 5.6 5.8
Vietbank 4.1 4.4 5.4 5.4 5.8 5.9
Vicky Banks 4.35 4.45 6 6 6.2 6.2
VP Bank 4 4.1 5 5 5.2 5.2

Source: vietnamnet.vn

Staying informed about these shifts is more important than ever. At archyde.com, we’re committed to providing you with the latest financial news and analysis to help you navigate the evolving economic landscape. Explore our homepage for more insights and resources to empower your financial decisions.

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