Best Local Banks in Vietnam for Foreigners

Best Local Banks In Vietnam For Foreigners To Open Bank Account

Thanks to the rapid advancements in digital transformation and contemporary technology, people may now open online accounts from the comfort of their homes, eliminating the need to physically visit the bank. But readers are undoubtedly asking which bank to deposit money at. Let’s read the article below about HOUSING SAIGON’s Best Banks in Vietnam for Foreigners!

Top 5 Most Reliable Banks In Vietnam For Foreigners To Deposit

According to statistical results from Vietnam Report in June 2024, the following are the list Best Banks in Vietnam for Foreigners to save or invest

VIETCOMBANK (Joint Stock Commercial Bank for Foreign Trade of Vietnam)

The name Vietcombank is at the top of the reputable banks in Vietnam. Initially called the Foreign Exchange Department, Vietcombank was founded in 1963 and was chosen as the first bank to undergo experimental equitization. 

Among the most prominent banks in the top 10, is Vietcombank. Vietnam Report 2020 lists the top 50 most successful firms in the country’s business sector for 2019 along with several other national and international honors.

VCB – The biggest banks in Vietnam for foreigner to deposit

This bank is a solid company with the greatest market capitalization among Vietnamese companies, and its profits climbed significantly even during the Covid-19 epidemic. Vietcombank has been a top option for many individual and company clients due to its stellar reputation and consistent growth efficiency over a long period of time.

TECHCOMBANK ( Vietnam Technological and Commercial Joint – Stock Bank)

Asian Banking & Finance (ABF) magazine bestowed three significant prizes upon Techcombank. These include the “Best domestic retail bank in Vietnam 2024”, “Best domestic bank in cash management in Vietnam 2024” with “Best domestic bank in trade finance in Vietnam 2024” .

Using machine learning and artificial intelligence (AI), Techcombank is also at the forefront of this field, enabling the bank to fully utilize the potential of data. Almost 52 million comprehensive financial consultations tailored to each customer’s needs have been offered by Techcombank to date, paving the way for individuals to quickly and simply advance their talents in money management.

VIETINBANK (Vietnam Joint Commercial Bank for Industry and Trade)

VietinBank received recognition in 2023 in the “Top 3 large-cap listed enterprises with IR activities most loved by investors” category. The Bank was also chosen as a “Listed enterprise that meets information disclosure standards on the stock market in 2023” in the last election.

Vietinbank – One of the top banks in Vietnam with many awards

VietinBank was recognized by this esteemed international publication as the finest SME Bank in Vietnam for four years in a row after winning the Asian Banker’s jury award for outstanding product quality, service, and operational efficiency.

Because of the scope, caliber, and exceptional advantages of its goods and services, VietinBank is still recognized by Global Banking and Finance Review Magazine as the “Best Retail Bank in Vietnam” in 2023. VietinBank has created and offered its clients retail banking services.

BIDV – Bank for Investment & Development of Vietnam

BIDV was honored to win the title of “Best Bank implementing technology for Core Banking system in Vietnam” 2024 from The Asian Banker magazine, as they were the first bank to successfully use and deploy the Delta technique in transforming Core Banking system data.

Industry figures indicate that as of right now, BIDV bank has 855 network transaction points and over 190 branches. has a staggering 57,825 ATMs and point-of-sale (POS) locations dispersed over 63 Vietnamese provinces and cities. In addition, more than six nations both inside and outside of the region such Cambodia, Laos, Taiwan, the Russian Federation, and Yangon – are home to BIDV.

BIDV – Among the most distinguished banks in Vietnam

MB BANK Military Commercial Joint Stock Bank

Following 29 years of ground-breaking, unceasing innovation, and inventiveness, MB has achieved remarkable transformations with growth potential that surpasses that of a conventional bank.

After 28 years, Military Commercial Joint Stock Bank (MB, stock code: MBB), which started out as a bank in Vietnam with just 25 employees and 20 billion VND in charter capital, grew to become one of the country’s major financial institutions and a multi-functional financial conglomerate. 

In addition to offering banking services, MB offers the most extensive financial ecosystem currently available to the market to the economy and its millions of clients. This ecosystem includes everything from consumer finance and securities to fund management and asset management, as well as life and non-life insurance.

The total assets of MB as of September 30, 2023, were VND 815,881 billion, a 12% rise from 2022. With total outstanding loans approaching VND 577,000 billion, or a rise of almost 14% from the previous year, consolidated credit expanded favorably. 

Comparing the first nine months of 2022 to now, MB’s consolidated pre-tax profit increased by 10% to about VND 20,000 billion. The aforementioned data demonstrates that MB continues to develop at a favorable rate despite obstacles, especially in the face of a broader economy that is experiencing several difficulties. This results in greater advantages for both consumers and shareholders.

Table Of Deposit Interest Rates At Banks In Vietnam

You may find out the reputed banks in Vietnam to guarantee the safest deposit by consulting the deposit interest rate table that HOUSING SAIGON has finded. But, you should research interest rates, fees, and conditions, the bank’s reputation, as well as the incentives and promotions offered by the depositing banks in Vietnam, before selecting a bank to create a savings account.