Savings rates in Vietnam are rising, with some banks now offering up to 9.2% a year on six-month deposits.

A Hanoi resident recently withdrew a VND1bn ($38,334) deposit from VPBank (VPB) after its six-month account had been renewed at 6.4% annually. When she deposited the funds again, the bank offered an online rate of 8.8% for six months, 2.4 percentage points higher, according to Tuoi Tre News. 

VPBank (VPB) offered the same 8.8% rate for both six- and 12-month online deposits.

Another Hanoi depositor said Saigon-Hanoi Commercial Joint Stock Bank (SHB) had also raised its rates. On August 28, the bank was offering 9.2% annually on six-month deposits, an increase of 0.2 percentage points over two weeks.

With businesses facing challenging conditions, some savers view returns of around 9% as an attractive and relatively secure investment option.

Rates at major state-owned banks, however, remain considerably lower. Agribank’s highest over-the-counter rate is 6% annually for deposits of 24 to 36 months. Its rates range from 2.6% for one-month terms to 5.9% for 12-month deposits.

At Vietcombank, online savings for six and nine months pay 3.5% annually, while the bank’s top rate of 6% applies to 24-month deposits.

Meanwhile, commercial banks are expanding preferential lending schemes as authorities seek to boost economic growth.

State Bank of Vietnam data showed total outstanding credit reached VND20.26 quadrillion by July 31, up 8.98% from the end of 2025. Production and business activities accounted for 77.3% of total lending.

The central bank has urged lenders to introduce suitable credit products, preferential interest rates and fee policies to improve businesses’ access to capital.

By August 24, 12 commercial banks had announced programmes worth a combined VND408 trillion, targeting key growth sectors and small and medium-sized enterprises.

Four state-owned lenders, Agribank, BIDV, Vietcombank and VietinBank, accounted for VND220 trillion, while eight joint-stock banks pledged VND188 trillion.

While deposit rates are increasing, lending rates for small and medium-sized enterprises have been reduced by between 0.2 and 0.7 percentage points annually, depending on the lender.