Best Term Deposit in Vietnam

nscprez wrote:

Which international banks in Saigon give the best term deposit rates in usd?

As far as I know you cant get term deposits in USD. Exchange it to vnd and get around 7%.

colinoscapee wrote:

nscprez wrote:

Which international banks in Saigon give the best term deposit rates in usd?

As far as I know you cant get term deposits in USD. Exchange it to vnd and get around 7%.

I've seen a few that promote foreign currency term deposits on their websites, but as you said the only one that earns any interest are all VND

Socialism at its 👌 👍 😍

nscprez wrote:

Socialism at its 👌 👍 😍

It has nothing to do with socialism.   If a bank offered significant interest on USD and the dong fell relative to the dollar, which it does sometimes in jumps but usually slowly, the bank could increase its costs in a big way.  They are unwilling to take risk on currency fluctuation.  If anything, they are protecting their own interests which is a very capitalistic thing to do.  I could add that Citibank in Vietnam pays no interest on USD accounts either.

nscprez wrote:

Which international banks in Saigon give the best term deposit rates in usd?

None

Safer to keep your money at home, and ATM. Put that cash in dividend stocks, QYLD yields 11.5%, pays monthly, and is in a dip right now. Actually Canada has more high yield stocks than the US.