Vietnamese equivalent of a CD/GIC or secured high-yield deposit

34POSTS

6 years ago

Hello,
In USA there are CDs, in Canada there are GICs, most countries have secured deposits with 1-4 year lock-ups that yield slightly more than Treasury bonds, 0 risk. Is there such a bank product in Vietnam? If so, what is the Vietnamese name?

I am looking for something that yields more than the ~5% rate for a liquid cash account, 1 year lock-ups.
In VND

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SteinNebraska ViP

1298POSTS

6 years ago

Virtually every bank has one, two, three, up to 12 month term deposits. 12 month pays about 7.5% right now.

1 member reacted to this post

cocobipbip Active member

34POSTS

6 years ago

Thanks, do you know the Vietnamese term?

SteinNebraska ViP

1298POSTS

6 years ago

Sorry, no, but someone will be along shortly that does. There is a recent thread though about issues getting them, the length of your visa, etc. See this. https://www.expat.com/forum/viewtopic.php?id=853810

Ciambella ViP

3482POSTS

6 years ago

It's Chứng Chỉ Tiền Gửi (Certificate of Deposit).

With Sacombank, it's 1M minimum for 7-year term at 8.6%.

SHB offers 18, 24, and 36 month terms. For 36 months and less than 2B (not M), it's 8.6%, 8.7%, and 8.8%. More than 2B, it's 8.9%.

With SeABank, it's 100M at 8.4% for 24 month and 8.6% for 36 month term.

With BIDV, it's 10M for 18, 24, or 36 month term, and customers have the choice between fixed and variable rates.

The list goes on.

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cocobipbip Active member

34POSTS

6 years ago

Thank you for the detailed reply!
Does Vietnam have the equivalent of 'bank insurance' such that retail persons deposits under, say, 1 trillion dong are secured against the issuing bank's insolvency?

SteinNebraska ViP

1298POSTS

6 years ago

cocobipbip wrote:
Does Vietnam have the equivalent of 'bank insurance' such that retail persons deposits under, say, 1 trillion dong are secured against the issuing bank's insolvency?

A trillion? LOL, no. Try 75,000,000.

http://www.div.gov.vn/Default.aspx?tabi … mp;cid=220

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