NATIONAL ECONOMIC UNIVERSITY
ADVANCED EDUCATION PROGRAM
—

TOPIC

DEPOSIT PRODUCTS AND PRICES OF SELECTED COMMERCIAL
BANKS IN VIETNAM: FIGURES & ISSUE

Course name: Commercial Banking 1
Member

: Nguyễn Vân Trang - 11219217
Mai Thị Hương Giang - 11211766
Đặng Thanh Mai - 11213626


1. Introduction about 3 selected commercial banks in Vietnam in the
research group
1.1. BIDV - Bank for Investment and Development of Vietnam
BIDV was founded on 26 April 1957 under the initial name of Bank for
Construction of Vietnam, then renamed Bank for Investment and Construction of
Vietnam (1981 - 1990), Bank for Investment and Development of Vietnam (1990 2012), and Joint Stock Commercial Bank for Investment and Development of
Vietnam (since 2012).
During the period, BIDV comprehensively completed its business targets,
strengthening competitive capacity, becoming the leading commercial joint stock
bank in Vietnam with sustainable development.

1.2. Vietinbank - Vietnam Joint Stock Commercial Bank for Industry and
Trade
Vietinbank is a large commercial bank in Vietnam. Vietinbank belongs to the

group of state-owned banks. With more than 50% capital from the state, the rest is
contributed by enterprises. Established in 1988, VietinBank is currently holding the
leading role of a leading bank in the Vietnamese economy. Vietinbank has a strongly
developed network with 148 branches and 7 member companies. Along with 3 nonbusiness units, and more than 1,000 transaction offices in 63 provinces/cities
nationwide.
VietinBank is the first and only Vietnamese bank in Europe with 02 branches in
Frankfurt and Germany. With the largest capital scale, the best asset quality and the
highest brand value. In consecutive years 2012 and 2013, VietinBank was voted by
Forbes Magazine as the Top 2000 largest enterprises in the world.

1.3. ACB - Asia Commercial Joint Stock Bank
Known as Asia Bank for short, officially came into operation on June 4, 1993, led
by Mr. Nguyen Quang Phuc as Chairman of the Board of Directors.
Starting operation in 1993, ACB has had 29 years of development, continuously
growing to become one of the leading joint stock commercial banks. ACB aims to
provide financial products and services to individual and corporate customers through
traditional transaction channels, while constantly developing technology systems to


help customers transact quickly. easily via electronic channels. ACB currently has 86
branches and 285 transaction offices (total 371 units) present in 48 provinces out of
63 provinces nationwide.
The studied banks mentioned above were chosen for some reasons. First, BIDV,
Vietinbank, ACB are 3 big banks in the top 10 most prestigious commercial banks in
Vietnam 2023 evaluated by some factors such as: credit turnover, scale of banking
services provided, growth rate, prices of services and products, income from services
provided. In addition, the main websites of banks are scientifically and clearly
designed, providing complete information for research and data search on products
and product prices that the studied banks provide to compare with each other.


2. Deposit products offered by the studied banks
2.1. Personal customers
a) BIDV
● Current account:
➢ Currencies: VND, USD, EUR, AUD, CAD, CHF, CNY, DKK, GBP, HKD, JPY,
NOK, SEK, SGD.
➢ Minimum balance: VND50,000; USD10; EUR10. Minimum balance is not required
for other currencies.
➢ Conditions: Vietnamese citizens and foreign individuals; The accounts of non-resident
individuals and foreigners residing in Vietnam shall be managed in accordance with
laws on foreign exchange.
➢ Interest rate: 0.1% (1%/year for customers with deposits of 250m VND or more)
➢ Characteristic:
❖ Withdraw cash, transfer money by ATM cards at thousands of ATMs
nationwide
❖ Transfer of time savings interest into the account
❖ Fast money transfer. Current account is credited immediately after
transactions are made between accounts opened at BIDV- Transactions are
made anywhere at any time via BIDV Smart banking.
● Term deposit:
➢ Currencies: VND, EUR, USD.


➢ Minimum balance: VND 500.000, EUR 100, USD 100.
➢ Tenors: 1 to 24 months.
➢ Interest rate: 4,9 - 7,2%
➢ Interest payment method: At maturity.
➢ Conditions:
❖ Vietnamese citizens being non-residents, foreign individuals being residents,
foreign individuals permitted to reside in Vietnam for at least 6 months.

❖

Residents and non-residents may not be joint term depositors. Organizations
and individuals may not jointly deposit term deposits in foreign currencies. For
joint term deposits, depositors may send and receive payments for term
deposits via the joint current account of all depositors.

➢ Characteristic:
❖ Account balance can be used to confirm customers’ financial capability or to
guarantee their relatives’ overseas travel and study, etc
❖ Premature settlement allowed.
❖ Depositors have to send and receive payments for term deposits via their own
current accounts.
❖ Ownership can be transferred when needed.
● Saving account:
➢ Currencies: VND, USD, EUR, JPY
➢ Minimum balance: VND500,000; USD100; EUR100; JPY1,000,000
➢ Tenors: 1 week to 60 months
➢ Interest payment method: At maturity, upfront, monthly, quarterly
➢ Conditions: VND savings - Vietnamese citizens; Foreign currency savings Vietnamese residents
➢ Characteristic:
❖ Account balance can be used to certify financial capacity for the purpose of
tourism, study abroad, etc.
❖ Time savings account can be used to pay the loan or to transfer to BIDV
accounts of the owner or co-owner
● Certificates of deposit
➢ Currencies: VND
➢ Minimum face value: VND 1,000,000. Any face value that is higher than the
minimum one must be the multiple of VND 100,000.



➢ Tenors: 1 month to 24 months
➢ Interest payment method: At maturity, monthly
➢ Condition: Vietnamese citizens and individual foreigners
➢ Characteristic:
❖ Account balance can be used to certify financial capacity for the purpose of
tourism, study abroad, etc.
❖ Safe, stable and effective investment channel
❖ Premature payment allowed

b) Vietinbank
● Current account:
➢ Minimum balance : 100,000VND for VND deposit accounts and 30 USD for foreign
currency deposit accounts..
➢ Interest rate: 0,1%
➢ Condition :
❖ Individuals who are citizens of Viet Nam; foreigners who have legal capability
and civil action capacity in accordance with the law of their nations.
❖

For individuals who are not old enough to have legal rights and
responsibilities by law, lacking civil action capacity, or limited of such ability
as regulated by the law: All procedures related to account opening and use
must be done by supervisors and legal representatives.

➢ Characteristic:
❖ Time is saved thanks to no counting of money, no risk of fake notes.
❖ Easy account opening procedure, simple transaction method, competent bank
staff.
❖ No fee for opening accounts.

❖ Customers can use the account as mortgages, guarantee for loans at
VietinBank.
❖ Customers can deposit/withdraw the accounts either with cash or by transfer
when using check, wire transferring, secured check, payment authorization,
collection authorization, etc.
❖ Customers can transfer funds from current accounts to savings accounts and
vice versa.
● Term deposit


➢ Currencies: VND, USD, EUR.
➢ Minimum Balance: 100,000 VND, 10 USD or an equivalent.
➢ Tenor: Flexible terms of 1 week, etc. to 60 months
➢ Interest rate: 4,9 - 7,2%
➢ Interest payment method: up-front payment, term-end payment, and periodic payment.
➢ Interest rates: use the normal term savings deposit rate schedule at each Branch.
➢ Condition:
❖ VND account: Vietnamese and foreign individuals living and working legally
in Viet Nam.
❖ Foreign currency account: Local residence individuals.
➢ Characteristic:
❖ Customers could deposit or withdraw cash from accounts at any transaction
place of VietinBank during working hours; Customers could add to the account
balance on the term-ending date without having to make a new account.
❖ Could be used as collateral for loans at VietinBank.
❖ Ownership is transferable and ownership form could be selected.
❖ Authorization for others to withdraw cash from account (per time or
frequently) is available.
❖ Various account payment forms are available: wire
transferring/cashing/interest accrued to the principal balance

● Savings account
➢ Currencies: VND, USD, EUR
➢ Minimum balance: 100,000 VND, 10 USD or an equivalent
➢ Condition: Customers who have idle cash without a future plan of use, to earn interest
on such amounts deposited with VietinBank.
➢ Customer Type ( thuộc condition )
❖ VND account: Vietnamese and foreign individuals living and working legally
in Viet Nam.
❖ Foreign currency account: Local residence individuals.
➢ Interest rate: demand deposit rates are applied. Rates are accrued each day and added
to the pending account, then at the end of the month added to the principal.
➢ Characteristic:
❖ Add or withdraw cash (partly or all) from account at any time, from any
transaction place during working hours of Vietinbank.


Document continues below
Discover more
from: hàng
Ngân
thương mại
NHTM1121
Đại học Kinh tế…
999+ documents

Go to course

Bài tập Ngân hàng
21


thương mại 1 gửi lớ…
Ngân
hàng…

100% (13)

Dàn ý phân tích nhân
2

vật Võ Tịng
Ngân hàng
thương…

94% (17)

đề cương ơn tập
41

82

ngân hàng trung…
Ngân hàng
thương…

100% (5)

Luận Văn Phát Triển
Cho Vay Khách Hàn…
Ngân hàng
thương…


100% (5)


Luận Văn Quản Trị
103
❖ Could be used as collateral for loans at VietinBank.

Rủi Ro Tín Dụng Tại…
Ngân hàng
thương…

100% (4)

❖ Ownership is transferable and ownership form could be selected.
❖ Authorization for others to withdraw cash from account (per time or

Bank Management &

frequently) is available.
❖ VND deposits are insured.

Financial Services…

❖ Automatically receive due interest from term deposits/valuable
papers.
768

Ngân hàng
thương…


100% (4)

c) ACB
● Current account:
➢ Currencies: VND, USD, EUR, AUD, GBP, CHF, CAD...
➢ Minimum balance: VND: 100,000 VND

USD: 20 USD

➢ Condition : Vietnamese individuals and foreigners
➢ Interest rate : 0,1%
➢ Characteristic:
❖ Fast money transfer within 1 minute from account to account/card account or
to recipient by ID card/Passport
❖ Pay bills automatically or proactively at the counter/ ACB Online/ Contact
Center 247 (direct debit)
❖ Get savings interest
❖ Transaction anytime, anywhere via free online banking service ACB Online
❖ Withdraw money, transfer money by ATM card at thousands of ATMs
● Term Deposits:
➢ Currencies: VND, USD
➢ Minimum balance: 1,000,000 VND/ 100 USD
➢ Condition:
❖ VND: Vietnamese and foreign individuals
❖ USD: Vietnamese individuals residents
➢ Interest rate: 4,9 - 7,5%
➢ Tenor: to be announced periodically (1 to 36 months)
➢ Characteristic:



❖ Customers may pledge their savings passbooks to obtain loans, secure the
issuance of credit cards or provide guarantee for a third person to get loans
from ACB
❖ Savings passbooks can be used to confirm customers’ financial capability or
to guarantee their relatives’ overseas travel and study
❖ Individual residents are entitled to use their savings accounts to pay for loans
or to transfer money into other ACB accounts of the holders
❖ Savings deposits can serve as a basis for issuing overdraft limits;
❖ Customers are entitled to transfer their ownership before maturity to preserve
their interest.
❖ Interest payment: monthly, quarterly, at maturity.

● Saving accounts
➢ Currencies : VND, USD
➢ Minimum balance: 1,000,000 VND/ 100 USD.
➢ Condition: VND: Individual Vietnamese and foreigners USD: Individual Vietnamese
➢ Interest rate: in conformity with product regulations
➢ Characteristic:
❖ Savings passbooks can be used to confirm customers’ financial capability or
to guarantee their relatives’ overseas travel and study;
❖ Individual residents are entitled to use their savings accounts to pay for loans
or to transfer money into other ACB accounts of the holders;
❖ Customers may carry out transactions at any ACB branches / transaction
offices
❖ Savings deposits can serve as a basis for issuing overdraft limits.
❖ Mode of interest payment: automatic monthly payment based on the date of
opening the savings passbook

2.2. Corporate customers

Condition: Vietnamese organizations that are established and operating under
Vietnamese laws, Foreign organizations that are established and operating under the laws of
their home countries.
a) BIDV


● Current account:
➢ Currencies: VND, USD, EUR and other foreign currencies
➢ Minimum balance: VND 1,000,000/ USD 100/ EUR 100
➢ Interest rate: 0,2%
➢ Interest payment: Interest amount is calculated on day-end balance and accumulated
daily. Payments are made automatically on the 25th every month.
➢ Basis for interest calculation: A year of 365 days, a month of 30 days VND
➢ Characteristic:
❖ Ensure liquidity while earning interests continuously
❖ Use the balance to secure loans or guarantee obligations of a third party
● Term deposit:
➢ Currencies: VND, USD, EUR
➢ Interest payment: Immediate payment/ Payment at maturity/ Periodic payment
➢ Interest rate: 4,6 - 6%
➢ Basis for interest calculation: A year of 365 days, a month of 30 days VND
➢ Characteristic:
❖ Co-ownership feature is available
❖ Use the balance to secure a loan at BIDV and other credit institutions
● Valuable papers:
➢ Currencies: VND, USD
➢ Interest payment: Immediate payment/ Payment at maturity/ Periodic payment
➢ Interest rate: Fixed/Floating
➢ Characteristic: Discounts in accordance with Vietnamese laws and BIDV's
regulations.

b) Vietinbank
● Current account:
➢ Currencies: VND, USD, EUR
➢ Interest rate: 0,2%
➢ Characteristic:
❖ Simple account opening procedures and trading methods
❖ To use modern electronic banking services (Mobile Banking, Internet
Banking) and smart cash flow management services
● Term deposit:
➢ Currencies : VND, USD, EUR


➢ Interest rate: 4,6 - 6%
➢ Interest payment : Flexible according to customer needs (by day/month/year)
➢ Characteristic :
❖ The procedure is simple, fast and convenient
❖ Get maximum flexibility on deposit terms;
❖ To be guaranteed the safety and security of the enterprise's deposit;
❖ Get high returns for idle money with attractive interest rates
● Certificate of deposit:
➢ Interest rate: 7,9 -9%
➢ Interest payment : month/ year
➢ Minimum balance: 1,000,000 VND
➢ Characteristic :
❖ A type of bond that can be transferred, given, given, or inherited.
❖ When there is a need for capital, customers can use it as a mortgage for a
loan.
❖ The longer the period, the higher the interest rate.
c) ACB
● Current account

➢ Currencies: VND and foreign currency
➢ Interest rate: 0,2% (VND 10M - 20B)
➢ Interest payment: interest will be automatically credited to the customer's account on
the 25th of every month. If the business settles the payment within 02 days, it will not
receive interest
➢ Characteristic:
❖ Convenience: opening one place can transact in many places with simple
procedures, fast processing time
❖ Safety: Payment transactions of the Company are performed accurately, with
absolute security
❖ Profitable: Enterprises flexibly use cash flow but still enjoy interest rates on
the account
● Term deposit ( At maturity interest payment)
➢ Currencies: VND, USD, JPY
➢ Minimum balance : 1,000,000VND/ 100 USD/100.000JPY
➢ Interest payment: Interest payments at deposit term end


➢ Interest rate: 4,9 - 7,5%
➢ Deposit term:
❖ VND: 1/ 2/ 3 weeks, 1/ 2/ 3/ 6/ 9/ 12/ 13/ 15/ 18/ 24/ 36 months
❖ USD: 1/ 2/ 3 weeks, 1/ 2/ 3/ 6/ 9/ 12 months
❖ JPY: 1/2/3/6/9/12 months
➢ Characteristic:
❖ Many terms to select from with attractive interest rates
❖ Simple procedures, prompt processing
❖ Deposit account balance possibly used as collateral for loans or as guarantee
for a third party’s loans from ACB
❖ Secured opening of credit cards with account balance
● Certificate of deposits

➢ Certificate of deposit name: ACB 1st certificate of deposit 2020 (ACB,
CCTG.2020.01)
➢ Maximum total issuance value: VND 2,200,000,000,000 (two trillion VND
billionaires)
➢ Par value of one Certificate of deposits : 1,000,000,000 VND (One billion VND)
➢ Issuing price: 100% par value
➢ Total Certificate of deposit issued: 2,200 (two judgments two Certificate of deposit
rewards)
➢ Term: 12 months
➢ Number of issuances: up to 4 batches
➢ Interest rate: fixed during Certificate of deposits. Up to 6%/year
➢ Issuance method: private release by direct release method
➢ Characteristic: to increase the size of ACB's operating capital to serve signal demand.
Confirmation of deposit unsecured by assets, with fixed interest rate, issued and paid
in Vietnam Dong

3. Prices of deposit products offered by the studied banks
3.1. Personal customers:


BIDV

Vietinbank

ACB

Current account
Open an account

Free


Free

Free

Current account
management fee
(VND)

● < 2m: 5.000 VND/month
● 2-10m: 3.000VND/month
● >10m: free

● >200,000 VND

● No account
management fees

Close an account

● 50.000VND/5USD/acc

● Foreign currency
account: 100,000
VND/ account
● VND account : 50,000
VND / account

● Priority account:
200.000VND

● Merchant Account:
200.000VND

Cash deposit to the
main account/
Internal transfer
between accounts

Free

Free

Free

Cash withdrawal
from VND payment
account

● In the same
province/city:Free
● In the difference
province/city: 0.03%
minimum 10.000VND

● Same province : Free
● In the difference
province:
● min : 10,000 VND
● max : 1,000,000 VND


● Same province/city: -Under
20,000,000VND :
5,000 VND/time
-From 20,000,000
VND: Free
● Difference
province/city: 0.03%;
Min: 15,000 VND,
Max: 1,000,000 VND

Statement of account
transactions

● 3.000VND/page
● Minimum 10.000VND

● 2,000 VND/ page
● Minimum: 10,000
VND

●

In the last 24 months,
the first 2 statements
will be free, from the
3rd time the fee is
5,000 VND/page

Authorization
transaction

confirmation

50.000VND/account

50,000 VND / time

50,000 VND/time

Blockade/temporary
lock/cancellation of
temporary lockdown
at customer request

50.000VND/account

100,000 VND/time

● 500.000d/3accounts/ti
me;
● 50,000 VND / each
account from the 4th


account onwards

Term deposit & Saving account (online)
Open an account

Free


Free

Free

Account maintenance
fee

Free

Free

Free

Deposit cash into the
account

Free

Free

● Same province/city:
Free
● Different province/
city :
➔ VND:0,03%; Min
15.000đ, Max
1.000.000đ
➔ USD: 0,4%; Min
3USD


● 0,03% x amount of
withdrawal
➔ Min: 10.000VND
➔ Max: 1.000.000VND

● In foreign currency:
➔ Min : 50.000 VND
➔ Max : 2.000.000
VND

● VND: 0,03%;
➔ Min: 15.000đ,
➔ Max: 1.000.000đ
● USD: 0,4%;
➔ Min: 3USD

Free

Free

Withdrawal (partial
or final), wire
transfer, money
transfer within 03
working days from
the date of deposit
Provide monthly
account statement
Blockade/temporary
lock/cancellation of

temporary lockdown
at customer request

● 50.000VND/account

● 100.000 VND/ time

Free
● 500.000d/3 savings
cards/time
● 50,000 VND / each
account from the 4th
account onwards

3.2. Corporate customers:
BIDV

Vietinbank

ACB

Current account
Open an account

Free

Free

Free
( Open more accounts:

1,000,000 VND/account
Time deposit in the same


currency )
Management fee
(VND)

● 50.000VND/account/m
onth/Monthly/quarterly
/6monthly/yearly fee
collection period as
agreed with customers

● According to each
Account Service
Package/Agreement

● Small and medium
enterprises (SME):
30,000 VND/month if
average balance <
1,000,000 VND
● Large enterprises
(MM&LC): 100,000
VND/month if average
balance < 3,000,000
VND

Close an account


● < 1 year:
100.000VND/5 USD
● > 1 year: Free

● 100,000 VND

● Accounts less than 12
months from the date
of opening: 100,000
VND/10USD/10 EUR
● Over 12 months:
55,000 VND/5USD/5
EUR
● For foreign currency
accounts other than
USD/EUR, the
account closing fee is
100,000 VND.

Cash deposit to the
main account/
Internal transfer
between accounts

● Normal transaction:
Free
● Small denomination
deposit transaction
(from 5,000 VND or

less, quantity from 100
sheets or more):
5.000VND/a pile of
money
● Different province:
0,03%,
➔ minimum 20.000VND
➔ maximum 3.000.000
VND

Cash withdrawal

● Same province: Free

Free

● Same province : Free

● Same province/city:
Free
● Different
province/city: 0,03%,
Min: 15.000đ, Max:
1.500.000đ

● Same province/city:


from VND payment
account


● Different province:
0.03%
➔ Min: 20.000VND
➔ Max: 2.000.000VND

● Different province :
➔ min : 200,000 VND
➔ max: 2,000,000 VND

Statement of account
transactions

● Periodic account
statements: Free
● Unscheduled account
statement:
➔ < 1y transactions from
the date of request:
5.000VND/page, min
30.000VND
➔ > 1y transactions from
the date of request:
5.000VND/page, min
50.000VND

550 VND/ page

Authorization
transaction

confirmation

● min : 100,000 VND

Free
● Different
province/city: 0,03%,
➔ Min: 15.000VND,
➔ Max: 1.500.000
VND
Transfer within ACB
system:
● Same province/city
where the account is
opened: Free
● Different
province/city: 5,000
VND/order
● Customers receive at
ACB's transaction
counters:
First time: free
Second time onwards
● Statement:
➔ Documents <12
months: 100,000
VND/time.
➔ Voucher 12 months:
300,000 VND/time
● Debit/credit

statement, service fee
receipt: 1,000
VND/sheet
● 55,000 VND/time

Term deposit & Saving account
Open an account

Free

Free

Free

Management fee

● 50.000VND/account/m
onth/Monthly/quarterly
/6monthly/yearly fee
collection period as
agreed with customers

Free

● Small and medium
enterprises (SME):
30,000 VND/month if
average balance <
1,000,000 VND



● Large enterprises
(MM&LC): 100,000
VND/month if average
balance < 3,000,000
VND
Close an account

Cash deposit to the
main account/
Internal transfer
between accounts

● <1y:100.000VND/5US
D
● >1y: Free

● 100,000/time

● Accounts
➔ <12 months from the
date of opening:
100,000
VND/10USD/10
EUR
➔ Over 12 months:
55,000
VND/5USD/5 EUR
● For foreign currency
accounts other than

USD/EUR, the
account closing fee is
100,000 VND.

Free

100,000 VND/ account

Free

Cash withdrawal

● Same province: Free
● Different province:
0.03%
➔ Min: 20.000VND
➔ Max: 2.000.000VND

● Same province : Free
● Different province :
➔ min : 20,000 VND
➔ max: 2,000,000 VND
❖ Withdraw cash from a
foreign currency account
in a foreign currency :
50,000 VND

● In ACB system - Cash
withdrawal fee: 4% of
transaction amount,

minimum VND
100,000
● Outside ACB system Cash withdrawal fee:
4% of transaction
amount, minimum
100,000 VND

Statement of account
transactions

● Periodic account
statements: Free
● Unscheduled account
statement:
➔ < 1y transactions from
the date of request:

● 2,000 VND/ page
● Minimum: 10,000 VND

● First time: free
● Second time onwards:
➔ Statement:
- Documents <12
months: 100,000
VND/time.


5.000VND/page, min
30.000VND

➔ > 1y transactions from
the date of request:
5.000VND/page, min
50.000VND

-

Voucher 12 months:
300,000 VND/time
➔ Debit/credit
statement, service fee
receipt: 1,000
VND/sheet
● Customers register to
receive periodic
account statements by
post with delivery
notice: 100,000
VND/time

4. Issue related to deposit products of the studied banks
In Vietnam, more and more banking options are available to customers wishing to
deposit money. One of the factors affecting customers' decision to deposit money is the
interest rate. The issue of interest rate competition among banks is a hot issue that has
received a lot of attention.
Savings interest rates continuously broke records as banks raced to attract capital, not
only for terms but also for current deposit rates (CASA) that credit institutions also increased
to the ceiling allowed by credit institutions. Therefore, experts believe that it will be difficult
for banks to get cheap capital as before.
For banks, attracting a high percentage of demand deposits plays an important role,

because it creates a cheap source of capital, if banks can maintain a good growth of demand
deposits. compared to total deposits, it will be able to offset the cost increase from term
deposits and bond issuance. This gives banks the opportunity to expand profit margins
despite increasing deposit costs. Therefore, the bank with the higher CASA ratio will have a
higher competitive advantage. Normally, interest rates on demand deposits are much lower
than term deposits, only around 0.1%-0.3%/year. However, from the beginning of November
2022, some banks have started to push demand deposit rates up from 0.5%-1%, which makes
the race for CASA increasingly fierce.


The first was VPBank, which announced an increase in demand deposit interest rates
applied to individual customers to a "dramatic ceiling" of 1% per year, effective from
November 1. Accordingly, individual customers with an average deposit balance of less than
VND 100 million on a current account will enjoy a demand interest rate of 0.2%/year; the
average deposit balance from 100 million to less than 500 million dong will enjoy the interest
rate of 0.5%/year. Especially, individual customers with an average deposit balance of VND
500 million or more in their current account will enjoy a ceiling interest rate of 1% per
annum - the level that hits the ceiling according to the State Bank's regulations. Next is
Techcombank, from November 5, this bank has increased the interest rate on demand
deposits to 1%/year. Notably, before that, despite being a bank with a very high CASA ratio
in recent years, the interest rate on demand deposits at Techcombank was only 0.03%/year.
According to the survey as of November 15, there are still about 20 banks that are
listing demand interest rates below the allowable ceiling (1%) of the State Bank. In which, 5
banks recorded demand deposit interest rate at 0.1%, including 3 big banks BIDV,
Vietcombank, VietinBank, LienVietPostBank and HDBank. In which, BIDV gives priority to
customers who are small merchants with a deposit balance of VND 250 million or more in
their current account, who will enjoy a demand interest rate of 1%/year, while other
customers remain at the same level.
The continuously increasing deposit interest rate of term deposits has put additional
pressure on the "dilution" of capital costs on demand deposits of banks. Financial statements

for the third quarter of 2022 of 28 banks listed on the stock exchange are also showing this.
In which, up to 18 banks, equivalent to nearly 67%, recorded a decrease in CASA ratio in 9
months. The group's average CASA rate accordingly fell from 18% at the beginning of this
year to 16.7% at the end of the third quarter. Of the 28 listed banks, 14 banks (equivalent to
51.9%) own a CASA ratio of less than 15%. In which, VietBank is the bank with the lowest
CASA ratio when only 4.9% of total customer deposits are demand deposits. VietCapitalBank
and LienVietPostBank ranked second and third respectively with the CASA ratio at 5.9% and
6.3%.
It is a fact that in the past, in order to attract deposits, Techcombank, MB took the
lead in implementing a free policy of a series of online transactions, now all banks apply.
Therefore, the competition is getting fiercer among banks, whereby deposits are also
allocated to other banks.


5. Solution for mentioned issue
Dr. Nguyen Huu Huan-Ho Chi Minh City University of Economics said that banks
need a lot of efforts to be able to attract CASA and each bank must find its own "path."
According to Mr. Huan, banks need to invest more heavily in payment services,
consulting and customer care. Along with that is actively investing in digital banking,
increasing customer experience, increasing efficiency and convenience when using banking
services.
In addition, banks also need to strengthen links with e-commerce sites, encouraging
customers to pay via banking applications. In particular, it is necessary to go deep into the
customer segment in the areas of strength and design products and services that meet the
needs of customers in these key areas. Because when products and services closely follow the
needs of customers, they will be received and used more, leading to an increase in daily
payment activities as well as other activities.

CONCLUSION
In summary, our analysis has analyzed the deposit products and the prices of those deposit

products through two categories: personal and business of three banks BIDV, Vietinbank,
ACB. It can be seen that all 3 banks possess many similarities in the deposit products offered
and the prices of those products. However, there are still certain differences in interest rates
and certain fees. Those differences are the basis for customers including individuals and
businesses to decide which bank is best to deposit money into. Therefore, in order to attract
customers, each bank needs to always improve service quality, credit, and offer attractive
incentives in line with fluctuations in the market.

REFERENCES
1. Ha, T. (2022). Cuộc cạnh tranh thu hút tiền gửi không kỳ hạn ngày càng khốc liệt.
/>