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Best interest rates and Best Bank in Viet Nam???

By hniHnitsuJ in Vietnam

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hniHnitsuJ Proficient

hniHnitsuJ   8

Posted
Filed: IR-1/CR-1 Visa Country: Vietnam (no flag)
 Timeline
Posted

Is anyone known which is the best Bank in Viet Nam to transfer USD to Dong (for investment)? And, what are the interest rates for Dong each month?

My wife and I thinking about put some US money (convert to Dong) in VN for monthly interest rates, and we want to know which VN bank giving us the high interest rates.

ACB Bank, or HSBC?

Thank you.

I-130 Journey

USCIS

06-15-2008 : Marriage

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NVC

02-04-2009 : Visited my wife for 2 weeks. 02-22-2009 come back to US

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02-25-2009 : Payment Received from my bank (AOS)

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Doanh M. Contributor

Doanh M.   4

Posted
Filed: K-1 Visa Country: Vietnam
 Timeline
Posted

I have given this some thought before and I don't know if that is a good choice to make since inflation rate in Vietnam is at least 9% to 17%. Basically the DONG is losing its value as I am writing this. You can get a nice monthly "gains" from the Vn bank at going rate about ~9%. However, if you put in $100 dollars now, you will get back much less than $100 when you want to withdraw your money. The exchange rate for $100 dollars is 14 million Dong 5 years ago, now is $100 = 21 milllion Dong. PLus it is a pain to transfer money out and in the States. Others, please correct me if I am wrong, my numbers are all ballpark.

seattlerain Contributor

seattlerain   1

Posted
Filed: K-1 Visa Timeline
Posted

I read the newspaper about this on some Viet Kieu tried to do this. It turned out that it wasn't good of a profit due to inflation and the hassle.

1st email, May 19, 2009

1st visit, first face to face, June 17, 2009

2nd visit, December 24, 2009

3rd visit, engaged in Vietnam, June 6, 2010

Filed K-1, June 17, 2010

4th visit,December 26, 2010

INTERVIEWED May 21, 2011 --> RE: Additional documents

5th visit, both of us went in to submit additional documents on June 16, 2011---> Result AP.

6th visit, I went to the Consulate on December 28, 2011

Got back to the US and asked Congressman for help.

March 10, Asked Senators for help.

March 27, 2012 DoS status indicated an expedite on my case after Senators inquiry

End of March, Phone call from Consulate at 11:30PM.

April 13 (or so) received letter asked to update medical and police report

Received VISA April 28, 2012

VietCong Newbie

VietCong   0

Posted
Timeline
Posted

Is anyone known which is the best Bank in Viet Nam to transfer USD to Dong (for investment)? And, what are the interest rates for Dong each month?

My wife and I thinking about put some US money (convert to Dong) in VN for monthly interest rates, and we want to know which VN bank giving us the high interest rates.

ACB Bank, or HSBC?

Thank you.

If you're the one who had this crazy idea, I can understand (because you never live closely and long enough with Vietcong and fully understand them). But your wife? One who just immigrated from there?

Looks like she hasn't learned a thing about Vietcong.

PS> OP, ask your wife if VN and its banking system are so great, why is she here in the US? Shouldn't she marry a rich hubby in VN and live there happily forever collecting BIG, FAT interests monthly from banks overthere?

TALK about stupidity!

ScottThuy Mentor

ScottThuy   140

Posted
Filed: AOS (apr) Country: Vietnam
 Timeline
Posted

I have given this some thought before and I don't know if that is a good choice to make since inflation rate in Vietnam is at least 9% to 17%. Basically the DONG is losing its value as I am writing this. You can get a nice monthly "gains" from the Vn bank at going rate about ~9%. However, if you put in $100 dollars now, you will get back much less than $100 when you want to withdraw your money. The exchange rate for $100 dollars is 14 million Dong 5 years ago, now is $100 = 21 milllion Dong. PLus it is a pain to transfer money out and in the States. Others, please correct me if I am wrong, my numbers are all ballpark.

spot on.. the Dong has become so devalued in recent years.. it has been pretty stable in the past year or so, but VN inflation as you said is through the roof there now... if inflation continues there, it would make certain investments much better than those here in the short term... long term investments could be better here in the US...

moving money between here and there or converting the currency has to be considered.. yep it can be a pain and has a cost associated with it. I remember a fellow member here that had an account here in the US that has a branch in VN.. but Theremust be currency exchange fees in the deal...

"Every one of us bears within himself the possibilty of all passions, all destinies of life in all its forms. Nothing human is foreign to us" - Edward G. Robinson.

  • 2 weeks later...
Kathryn41 Grand Master

Kathryn41   3,205

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
Posted

One post removed and member banned as another duplicate membership of Dau Que.

“...Isn't it splendid to think of all the things there are to find out about? It just makes me feel glad to be alive--it's such an interesting world. It wouldn't be half so interesting if we knew all about everything, would it? There'd be no scope for imagination then, would there?”

.― Lucy Maude Montgomery, Anne of Green Gables

5892822976_477b1a77f7_z.jpg

Another Member of the VJ Fluffy Kitty Posse!

David-Hien Collaborator

David-Hien   11

Posted
Filed: K-1 Visa Country: Vietnam
 Timeline
Posted

Is anyone known which is the best Bank in Viet Nam to transfer USD to Dong (for investment)? And, what are the interest rates for Dong each month?

My wife and I thinking about put some US money (convert to Dong) in VN for monthly interest rates, and we want to know which VN bank giving us the high interest rates.

ACB Bank, or HSBC?

Thank you.

This is not a good idea. Buying somethings and send there to sell for profit may be better.

ScottThuy Mentor

ScottThuy   140

Posted
Filed: AOS (apr) Country: Vietnam
 Timeline
Posted

This is not a good idea. Buying somethings and send there to sell for profit may be better.

Then the duty comes into play.. depending on what the item is, the duty can be quite high...

"Every one of us bears within himself the possibilty of all passions, all destinies of life in all its forms. Nothing human is foreign to us" - Edward G. Robinson.

 
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