According to figures published by the State Bank of Vietnam, total customer deposits at credit institutions stood at about 17.77 quadrillion dong at the end of August. Deposits in the banking system rose by more than 310 trillion dong from the previous month, or 1.78%.
During the first eight months of the year, total deposits from economic organisations and households rose by nearly 1.26 quadrillion dong from the end of 2025, an increase of about 7.6%. Year on year, the banking system's deposits increased by 11%.
Households made the largest contribution to August's increase. Household deposits at credit institutions reached about 11.43 quadrillion dong at the end of the month, up nearly 214 trillion dong, or 1.91%, from the end of July. This was the highest level on record.
Household deposits continued to rise throughout the first eight months of the year. Compared with the end of 2025, the balance increased by nearly 1.1 quadrillion dong, or 10.63%.
At the end of August, household deposits accounted for about 64.34% of total deposits at credit institutions, up from 62.58% at the end of 2025.
Deposits from economic organisations were less consistent. At the end of August, their balances reached about 6.34 quadrillion dong, up more than 96 trillion dong, or 1.54%, from the previous month.
The August increase showed a recovery in corporate deposits after a sharp fall in July. However, the money returning to the banking system did not fully make up for the earlier decline. Corporate deposits fell by nearly 131 trillion dong in July, so the August increase equalled about three quarters of that amount.
Total money supply, excluding valuable papers, exceeded 20.77 quadrillion dong at the end of the first half of the year. That was 6.84% higher than at the end of last year.
The rise in savings rates began late last year and continued during the first months of this year. At the start of the year, banks repeatedly raised rates to attract deposits. In addition to published rates, some private banks have offered rates of 7–9% a year over the past month for deposits of only several tens or hundreds of millions of dong.
At the beginning of April, banks started lowering rates after State Bank Governor Pham Duc An instructed them to reduce rates to support households and businesses.
On October 16, officially listed deposit rates ranged from 1.9–4.75% a year for three-month terms, 2.9–7.2% for six months, 2.9–7.2% for nine months, 3.7–7.5% for 12 months and 3.9–7.9% for 18 months.
For six-month deposits, Sacombank listed the highest rate at 7.2% a year, followed by Bac A Bank at 7.05%. Sacombank also led the 12-month category at 7.5%. For 18-month deposits, VPBank offered the highest rate at 7.9%.
These are the banks' officially listed rates. In practice, private banks including LPBank, SHB, HDBank, MSB, MB, MBV and Vikki are offering 8.5–9.2% a year on six- to 12-month deposits. Negotiated rates may be higher depending on the deposit amount, term and the customer's discussions with the bank.
Sources: Dân Trí
