On the first working day after the 2026 Lunar New Year holiday, lenders rolled out “lucky money” campaigns, offering cash gifts from VND 50,000 (about USD 1.9) to VND 500,000 depending on deposit size. Several banks also added bonus interest for online savings products.
A resident in Ho Chi Minh City said she received an additional 1.5 percentage points for a six-month online deposit of VND 300 million at a private bank, lifting the effective rate to 7.7 per cent a year.
From the four major state-owned lenders, BIDV, Vietcombank, VietinBank and Agribank, to private institutions, banks sent promotional messages encouraging early-year deposits. At several lenders, short-term rates are currently higher than those for 12 months or longer.
At VPBank, six-month deposits are listed at 6.2 per cent, with online bonuses lifting rates to 8 per cent, while 12-month rates remain below 7 per cent. Cake by VPBank is offering additional online bonuses of up to 1 percentage point, pushing six-month yields to as high as 8.2 per cent during the post-Tet campaign.
PVcomBank is adding 1.5 percentage points to deposits made via digital channels on Fridays, lifting effective rates on some mid- and long-term tenors to about 8.3 per cent, among the highest for standard deposits without large minimum balances.
Other lenders, including OCB and VIB, offer around 6.5 per cent for 12-month terms, while Bac A Bank lists 6.55 per cent and PGBank and MBV around 7.2 per cent.
For very large deposits, typically from VND 500 billion, some banks are offering up to 9 per cent for 12-month terms. PVcomBank lists 9 per cent for 12-13-month deposits with a VND 2 trillion minimum, while Vikki Bank offers 8.4 per cent from 13 months and HDBank and MSB 8-8.1 per cent for similar large balances.
The promotions underscore intensified competition for deposits at the start of the year, with digital channels playing an increasingly prominent role.
