Vietnamese residents deposited a net VND 214 trillion ($8.1 billion) into banks in August 2026, equivalent to nearly VND 6.9 trillion ($262 million) a day, as deposit rates rise and banks compete for funding.
By the end of August, household deposits had reached more than VND 11.43 quadrillion ($433 billion), up 10.6% from the end of 2025, according to State Bank of Vietnam data.
Deposit growth has accelerated since the second quarter. Over the past five months, household deposits increased by an average of VND 175 trillion ($6.6 billion) a month, nearly 2.4 times the average recorded in the preceding five months.
Banks have raised deposit rates to attract savers. Advertised rates at some banks have reached 7.6% to 7.8% a year, while preferential offers can reach 8.5% to 9.5%, depending on the bank and deposit conditions. Bank executives say the attractive interest-rate gap between Vietnamese dong and foreign currencies is encouraging individuals to hold more dong.
Deposits from businesses and other economic organisations totalled VND 6.34 quadrillion ($240 billion), bringing total banking deposits to VND 17.77 quadrillion ($673 billion), up 7.6% from the start of the year.
However, deposits are growing more slowly than lending. Outstanding credit reached VND 20.49 quadrillion ($776 billion) at the end of August, up 10.2% since the beginning of the year.
Analysts expect deposit rates to remain elevated through the end of 2026 as credit demand, inflationary pressures and large infrastructure investment projects sustain banks’ funding needs. Faster public investment disbursement could ease some pressure, but rates are expected to remain broadly stable, according to Techcombank analysts.
