Vietnam’s Sacombank is offering certificates of deposit in dong to individual and corporate customers at attractive interest rates – 8.6 percent per annual.
According to a report by Vietnam News Agency, the certificates of deposit offered by Sacombank have a minimum face value of VND1 million (US$43) and a tenor of seven years (84 months), and carry an interest rate of 8.6 percent.
Buyers get incentives like preferential interest rates when borrowing using the certificates of deposit as collateral. Besides, they are transferable and can be en-cashed prematurely.
In the US, the best certificates of deposit Rates for September 2019 is about 2.30 per cent, so as a foreign investor, if you transfer US$100,000 of your capital to Vietnam, convert to Vietnamese Dong and purchase the certificates of deposit at local bank, your earning will be much better than saving at any bank in the US.
Source: https://www.bankrate.com/cd.aspx
A certificate of deposit (CD) is a product offered by banks that offers an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time. Almost all consumer financial institutions offer them, although it’s up to each bank which CD terms it wants to offer, how much higher the rate will be vs. the bank’s savings and money market products, and what penalties it applies for early withdrawal.