Household deposits at Vietnamese banks reached a record VND 10.826 quadrillion (about USD 416 billion) at the end of May, according to the latest figures released by the State Bank of Vietnam.
Deposits by individual customers increased by more than VND 108 billion (about USD 4.2 billion) from the end of April, setting a new all-time high.
Household deposits have risen steadily since last year. Compared with the beginning of the year, deposits increased by 4.76 per cent, equivalent to an additional VND 491 billion (about USD 18.9 billion).
The latest figure extends an uninterrupted growth streak that began in October 2025, when household deposits first exceeded VND 10 quadrillion.
Meanwhile, deposits held by businesses and other economic organisations reached more than VND 6.16 quadrillion (about USD 237 billion), up VND 92.27 billion (about USD 3.5 billion) from April but still 0.2 per cent lower than at the end of 2025.
Overall, Vietnam's broad money supply stood at more than VND 19.97 quadrillion (about USD 768 billion) at the end of May, an increase of 2.73 per cent compared with the end of last year.
The continued rise in deposits comes after deposit interest rates climbed sharply in late 2025 and remained elevated during the opening months of this year. At the start of the year, many banks repeatedly raised savings rates to attract funds.
In addition to their published rates, several commercial banks introduced promotional offers with annual interest rates ranging from 7 per cent to 9 per cent for deposits worth tens to hundreds of millions of Vietnamese dong.
However, deposit rates have eased since early April following guidance from the governor of the State Bank of Vietnam aimed at lowering funding costs and making credit more affordable for households and businesses.
Despite lower deposit rates, alternative investment channels such as gold, equities and real estate have remained subdued, prompting many Vietnamese savers to continue favouring bank deposits as a relatively safe investment that still offers attractive returns.
