In Vietnam, banks offer gold, villas in race for deposits

Deposit rates at MBV (Modern Bank of Vietnam) now stand at 9.46 percent a year for deposits of VND10 billion (US$385,380) or more with a 13-month term.

For the same deposit amount with a 12-month term, the rate is 9.4 percent a year.

At Vikki Bank, the rate reached 9.2 percent a year in late July for traditional savings deposits of VND200 million ($7,710) or more with a six-month term.

The rate has since risen to 9.4 percent a year.

At a bank in the Big Four group, the savings rate has reached 8.8 percent a year for six-month deposits of more than VND300 million ($11,560).

Customers depositing from VND100 million ($3,855) can still earn rates of up to eight percent a year.

However, banks are not competing on deposit rates alone.

They are also launching promotional campaigns offering ‘mega’ prizes to savers.

NCB has introduced a promotion for customers using its NCB Signature Savings product, with total prizes worth up to VND65 billion ($2.5 million).

Customers depositing at least VND2 billion ($77,240) for a term of six months or longer through September 25 will receive entries for a prize draw.

Besides, NCB is offering a weekly top prize of a three-bedroom luxury apartment at the Blanca City project in Ho Chi Minh City or Charmora City in Khanh Hoa Province, south-central Vietnam, with each apartment valued at up to VND10 billion ($385,380).

Customers whose total savings-book balance reaches at least VND5 billion ($192,690) in a month also have a chance to win the grand prize: a luxury villa at Charmora City worth VND25 billion ($963,805).

Meanwhile, HDBank is offering 16 taels of SJC-branded gold in its special prize draw. One tael equals 37.5 grams or 1.2 troy ounces.

Customers need only deposit at least VND50 million ($1,930) for a minimum term of one month and meet the other conditions set out in the promotion rules to receive an entry code.

In the four previous draws, 16 savings books per draw, valued from VND10 million to VND200 million ($385-$7,710), were awarded.

Thousands of other prizes were also available, including Bluetooth speakers, power banks, travel suitcases, nut-milk makers and Elmich cookware sets.

Sacombank, meanwhile, is offering a VND2 billion ($77,240) apartment at Vinhomes Grand Park as the grand prize in its ‘Accumulating Prosperity’ promotion for individual customers who deposit at least VND200 million ($7,710) for a term of six months or longer.

In addition, each draw features 30 ‘Prosperity’ prizes, with each winner receiving an iPhone 17 Pro Max 256GB.

$38,620 savings books and trips to Japan, South Korea awarded

The rewards do not stop at real estate.

Vietcombank and BIDV are also offering promotions featuring savings books and overseas travel as prizes.

Vietcombank is running a promotion through October 31.

Accordingly, customers depositing Vietnamese dong for six- or 12-month terms, with a minimum deposit of VND10 million ($385), will have a chance to win prizes.

For every VND10 million deposited that meets the program’s requirements, customers receive one entry code for the draw.

The grand prize is a VND1 billion ($38,620) savings book, with two such prizes available.

The promotion also includes 10 first prizes worth VND100 million each and 20 second prizes worth VND50 million each.

In total, there are 32 prizes worth VND4 billion ($154,140).

Meanwhile, BIDV is running a promotion for customers who deposit at least VND100 million for terms of six months or longer.

The grand prize is a five-day, four-night trip to Japan for four people, valued at VND200 million.

Two first prizes are six-day, five-night trips to South Korea for four people, valued at VND100 million each.

The lender is also offering 197 lucky prizes worth VND1 million each.

Why are banks offering houses, savings books to depositors?

Statistics show a nearly VND1.4 quadrillion ($54 billion) gap between deposits and loans, forcing banks to raise rates to attract savings.

However, competing solely on savings rates is not enough.

As such, banks are also offering high-value rewards to attract and retain funds for six months or longer, while targeting customers with large amounts of idle cash.

The strategy helps address liquidity pressures as loan demand grows faster than banks’ ability to mobilize deposits.

Yuanta Vietnam Securities Company forecasts that savings rates will remain high in the coming months as year-end credit demand increases and banks face pressure to balance medium- and long-term funding.

In its report on the socioeconomic situation between January and August, the Ministry of Finance said deposit rates and exchange rates were under pressure.

Outstanding credit had increased 8.98 percent, while deposits had risen only 5.75 percent as of July 31.

Actual deposit rates for 12-month terms stood at 8.8-9.5 percent a year, above the officially posted rates.

As of August 22, deposits had increased 7.97 percent from the end of 2025.

According to experts, savings rates are unlikely to fall significantly under current conditions.

If the rates decline too far, money could flow into other, more attractive investment channels.