Compare Bank Deposit Rates by Tenor (VND)
When you open a term deposit in Vietnam, the real question is not "what is the interest rate" but "for the same amount of money over the same year, which tenor leaves me with the most cash at the end?" A bank publishes a different rate for each tenor — 1, 3, 6, 12 and 24 months — and the longer tenors usually (but not always) pay more. This tool puts every tenor on the same footing: it assumes you hold the money for exactly 12 months and roll the deposit over — reinvesting principal plus interest — each time the term matures, then shows which tenor produces the most interest over those 12 months.
With an illustrative set of quotes — 100.000.000 VND deposited at 2.0% for 1 month, 3.2% for 3 months, 4.5% for 6 months, 5.5% for 12 months and 6.0% for 24 months — the 24-month tenor wins over the year: it earns about 5.830.052 VND, bringing the balance to 105.830.052 VND. By contrast the 1-month tenor earns only about 2.018.436 VND over the same year — a gap of 3.811.617 VND on the same idle cash, purely from the tenor you pick.
Important caveat: every rate above is an illustrative assumption to demonstrate the maths, not a live quote from any particular bank. Vietnamese deposit rates vary by bank, by date and by promotion, and they can differ sharply between a large state-owned bank and a smaller commercial one. Open your banking app or the latest rate board, enter the numbers you are actually offered, and let the calculator point to the optimal tenor for your own savings.
How the calculator compares tenors
Putting every tenor on the same year
You cannot compare a 1-month rate with a 12-month rate just by reading the percentages, because one rolls over twelve times in a year and the other only once. The tool normalises this by assuming you hold the money for a full 12 months and roll the deposit over — reinvesting principal and interest — each time it matures:
Maturity = Principal × (1 + annual rate × tenor/12) ^ (12 / tenor)
| Symbol | Meaning |
|---|---|
| Principal | The amount you deposit (default 100.000.000 VND) |
| Annual rate | The quoted rate for that tenor (% per year) |
| Tenor | Months in one term (1, 3, 6, 12, 24) |
| 12 / tenor | Number of roll-overs in a year |
Each term earns simple interest on the running balance: period interest = annual rate × (tenor / 12). After each term the interest is added to the principal and redeposited — this roll-over is what generates a little compounding between the shorter terms. For tenors longer than the 12-month horizon (the 24-month tenor) the exponent is fractional (0.5), i.e. a pro-rated partial term, so it still sits on the same 12-month yardstick.
Effective annual yield
Effective annual yield = Maturity / Principal − 1
This is the single rate that, applied once over the year, reproduces the rolled balance. A short tenor that rolls over yields slightly more than its quoted rate thanks to compounding; a 12-month tenor deposited once yields almost exactly its quoted rate (5.5% → 5.50%).
What the model leaves out
The tool assumes the rate stays constant across the year at each roll-over — in reality, when a 1-month deposit matures the bank may already have repriced it. It also ignores tax (interest on personal savings deposits in Vietnam is currently not subject to personal income tax, but rules can change — verify the current position), fees, and any early-withdrawal penalty (breaking a term deposit early usually drops you to a near-zero demand rate). Read the result as a relative comparison between tenors, not an exact promise of the ending amount.
Worked example: 100.000.000 VND across five tenors over 12 months
Illustrative assumptions: the rate holds when you roll over, principal and interest are reinvested, no early withdrawal, before tax and fees.
| Tenor | Annual rate (illustrative) | Roll-overs/year | 12-month interest | Maturity value | Effective yield |
|---|---|---|---|---|---|
| 1 month | 2.0% | 12 | 2.018.436 | 102.018.436 | 2.02% |
| 3 months | 3.2% | 4 | 3.238.605 | 103.238.605 | 3.24% |
| 6 months | 4.5% | 2 | 4.550.625 | 104.550.625 | 4.55% |
| 12 months | 5.5% | 1 | 5.500.000 | 105.500.000 | 5.50% |
| 24 months | 6.0% | 0.5 | 5.830.052 | 105.830.052 | 5.83% |
Three things stand out.
- The 24-month tenor wins in this example. It earns 5.830.052 VND over 12 months — the most of the five — lifting the balance to 105.830.052 VND. Its quoted 6.0% rate is high enough to outweigh rolling over fewer times.
- The 1-month tenor is the most flexible but the worst here. Even rolling over twelve times, its 2.0% rate is so low that it earns just 2.018.436 VND for the year — 3.811.617 VND less than the best tenor. You pay for the freedom to withdraw at any time.
- If you default to the 12-month tenor, the year's interest is 5.500.000 VND at an effective yield of 5.50% — almost exactly the quoted rate, because you deposit once and never roll over.
Replace these five illustrative rates with your own bank's actual quotes (every bank publishes a different board) and see which tenor wins for your specific amount. If you want to spread money across several tenors to balance yield against liquidity, pair this with FiMo's deposit ladder calculator.
Frequently asked questions
Which deposit tenor pays the most in Vietnam?
It depends on each bank's rate board, but you compare them over the same year. In the illustrative example (100.000.000 VND with 1/3/6/12/24-month rates of 2.0%/3.2%/4.5%/5.5%/6.0%), the 24-month tenor earns the most over 12 months: 5.830.052 VND. Enter the rates you are actually quoted to find your own optimal tenor.
How much interest does 100 million VND earn in a year?
It depends on the tenor and rate. In the illustrative example with 100.000.000 VND: a 12-month deposit at 5.5%/yr earns 5.500.000 VND over the year; the best tenor (24 months at 6.0%/yr) earns 5.830.052 VND; while a 1-month deposit at 2.0%/yr earns just 2.018.436 VND. These are assumed figures — replace them with your bank's real rates.
Why do longer tenors usually pay higher rates?
Because committing your money for longer gives the bank stable funding it can lend out long-term, so it pays more to keep your deposit. In return you give up flexibility: breaking a term early usually drops you to a near-zero demand rate. This is not an absolute rule — there are periods when short tenors pay more than long ones — so always compare directly against the bank's current rate board rather than assuming longer is better.
Does rolling over principal and interest help?
Yes, and that is exactly how this tool compares tenors. Each time a term matures you redeposit both principal and interest, so the next term earns on a larger balance — that is compounding between terms. A short tenor rolled over many times yields slightly more than its quoted rate; for instance the 1-month tenor at 2.0%/yr produces an effective yield of 2.02% over 12 months thanks to rolling over. Most banks offer an automatic roll-over of principal plus interest.
Is interest on savings deposits taxed in Vietnam?
Currently, interest earned by an individual on savings deposits at a licensed credit institution in Vietnam is not subject to personal income tax — a deliberate benefit of personal deposits. Tax rules can change, though, and the treatment differs for companies. This calculator shows pre-tax interest and deducts no tax. If you deposit as a business or hold very large balances, check the current rules with a professional.
Are the rates in this tool real bank rates?
No. The 2.0%, 3.2%, 4.5%, 5.5% and 6.0% figures are illustrative assumptions to demonstrate the maths, not quotes from any specific bank. Vietnamese deposit rates differ between banks and change over time and by promotion. Check the latest rate board in your banking app or on the bank's website and enter the numbers you are actually offered so the result reflects your situation.