HCMC – Vietnamese households parked a record VND10.56 quadrillion in banks by the end of March 2026, underscoring the continued flow of idle cash into deposits, according to the State Bank of Vietnam.
Household deposits rose 2.19% from the end of 2025 to the highest level on record, data from the central bank showed.
In the first quarter alone, individuals deposited an additional VND200 trillion into the banking system. Compared with the same period last year, household deposits increased by more than VND3 quadrillion, the Vietnam News Agency reported.
The figures extended a trend seen in recent years as people continued to channel spare funds into banks as a vehicle for savings and asset preservation.
Deposit rates had been climbing since late 2025 and continued to rise in the early months of this year as lenders competed to attract deposits.
Earlier statistics released in March showed that 20 banks increased deposit rates. Some lenders adjusted rates four times during the month. Annual interest rates of 7% for 12-month deposits became common, while some banks offered rates of up to 9%.
Banks began cutting deposit rates in early April after State Bank Governor Pham Duc An instructed lenders to lower interest rates to support households and businesses.
Meanwhile, deposits from businesses and economic organizations fell 2.69% from the end of 2025 to more than VND6 quadrillion at the end of March. The decline mainly reflected companies’ demand for capital to finance production, business activities, and investment.
Total money supply, excluding valuable papers, reached more than VND19.6 quadrillion by the end of March, up 0.98% from the end of last year.
According to experts, deposit rates, while lower than previous peaks, remain attractive as alternative investment channels such as real estate and stocks continue to experience volatility.
