On September 28, 2026, various banks in Vietnam have announced competitive interest rates, with some institutions offering rates as high as 9.4% for six-month deposits. This trend highlights the increasing competition among banks to attract customers in a fluctuating economic landscape.

Notably, Cake by VPBank has set its deposit interest rate at 7.2% per annum for six to nine-month terms. For those opting for early interest payments, the rates are slightly lower, at 6.78% for monthly payments and 7.09% for quarterly payments.

From September 22 to October 31, 2026, Cake by VPBank is running a promotional program that adds an additional 2.2% to the standard interest rate, bringing the total potential interest rate for deposits of 10 to 13 months to 9.6% per annum. This offer is available for first-time depositors and those renewing their savings accounts.

For customers renewing their savings accounts, the program applies to deposits made through the CAKE BANK app, with a minimum deposit requirement of 100,000 VND. Customers can choose how they receive their interest—either at the end of the term or at regular intervals.

In addition to VPBank, other banks are also offering attractive rates. For example, deposits for terms of 10 to 24 months at Cake by VPBank yield 7.4% per annum. Overall, the interest rates for various terms are as follows:

• 1-5 months: 4.75% per annum
• 6-9 months: 7.20% per annum
• 10-24 months: 7.40% per annum
• 36 months: 6.30% per annum

These competitive rates are part of a broader trend where banks are increasingly incentivizing savings to bolster their deposit bases. Customers are encouraged to consult their local bank branches or hotlines for the most accurate and up-to-date information regarding interest rates.