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Best Term Deposit in Vietnam

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

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Socialism at its 馃憣 馃愤 馃槏

nscprez wrote:

Socialism at its 馃憣 馃愤 馃槏


It has nothing to do with socialism.聽 聽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.聽 They are unwilling to take risk on currency fluctuation.聽 If anything, they are protecting their own interests which is a very capitalistic thing to do.聽 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

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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.
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