Deposits made by individual customers at banks in Vietnam reached an all-time high of nearly VND6,700 trillion (US$262.9 billion) as of March this year, according to data released by the State Bank of Vietnam (SBV). According to the SBV, deposits at banks have steadily increased since September 2022, except for a slight decline in January this year. At state-run Vietcombank, the highest deposit rate is 4.7 percent for 24- and 36-month tenors. Meanwhile, privately-owned VPBank offers a maximum deposit interest rate of 5.6 percent annually for 24- and 36-month terms. Deposits of 60 months are entitled to the bank’s highest rate of 5.2 percent.

Source: Tuoitre News June 28, 2024 07:07 UTC