According to a survey conducted by Lao Dong newspaper on August 4, 2026, the interest rate for a 12-month savings deposit in Vietnam's banking system stands at 9.2%. This rate is attracting attention from potential savers looking to maximize their returns.

Among the banks offering competitive rates for a 12-month deposit, Cake by VPBank leads with an interest rate of 7.4% per annum for customers receiving interest at maturity. For those opting for monthly interest payments, the rates are slightly lower at 6.59%, 7.02%, and 7.08%, depending on the payment frequency. Additionally, first-time depositors on the CAKE BANK app can enjoy an extra 1.8% per annum, bringing the total interest rate to 9.2% for a 12-month term.

PGBank also offers an attractive rate of 7% per annum for online deposits with interest paid at maturity. Similarly, VCB Neo provides a competitive 7% per annum for personal customers making online deposits, which is the highest rate for terms ranging from 6 to 12 months.

BAC A BANK follows closely with a 12-month deposit rate of 7.1%, marking its highest offering as well.

To understand how much interest can be earned from a 12-month savings deposit, one can use the formula:

• Interest = Principal Amount x Interest Rate % / 12 x Number of Months

For instance, if a customer deposits 100 million VND at an interest rate of 9.2% per annum for 12 months, the interest earned would be:

• 100 million VND x 9.2% / 12 x 12 = 9.2 million VND.

It is important to note that interest rates are subject to change, and customers are encouraged to contact their nearest bank branch or hotline for specific advice.