There are a lot of investments that pay an income, across property, business ventures, stocks, mutual funds and more. Do you know that your savings can grow exponentially when invested  appropriately and after weighing all the market factors?

To ensure safety and efficiency, balance your investment plan and method with your actual financial situation, expertise and ability to execute the chosen investment plan.

To help customers make the right decision with their savings, we have listed down what we believe are 3 of the most common and suitable investment options in Vietnam here for inspiration.

Start an e-commerce business

With economies and businesses around the world being driven by the the internet, online retail is the newest business that makes customers lives easy and hence is in high demand. With the support of technology, this business is flourishing with high profit potential.  In Vietnam, online retail has been considerably successful with high demand for goods and services in fashion, cosmetics, F&B (Food & Beverage), Electronics etc.

Online retail should be carried out in the form of revolving funds. For example this means that the business owner should start with investing in importing goods, selling, making a profit and then use the profit to invest back in importing goods. Maintain an exponential development so that the ability of break even and generating high profit is likely.

However, there are still many factors to be considered before starting your own business. Take time to research the market, understand your competitors, industry benchmarks and customer behaviour first before investing in it.

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Open a term deposit account

A term deposit is a savings account with a fixed term. Term deposits can only be withdrawn after a certain period of time as agreed upon locking your money. You will always know your interest rates beforehand and your interest rates will stay fixed for the whole term. While the flexibility in withdrawing money before the end of the fixed term is limited, the interest rate of term deposit is higher than non-term deposits as it is calculated based on the fixed term your money is locked in for.

  • Important notes:

    From 5th July 2019, foreigners with a valid document proving residential status in Vietnam with at least 6 months validity will be eligible to open Term Deposit Accounts with a Term NOT greater than the remaining of its validity. Existing Term Deposits opened before 5th July 2019 will be continued until its maturity.

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Should you lock your money for a short or long term?

Many banks have published interest rates for both short and long term deposits at a competitive level. However, interest rates should not be the only factor determining the length of your term deposit. If you want the flexibility to withdraw and use your term deposit in the near future, a short term deposit would be the more suitable choice. For those who do not have any immediate need to use the funds, a long term deposit would be the best option.

In order to maintain a constant interest on your term deposits, divide your savings into smaller term deposits. Doing this would help minimize the loss of interest even in situations when there is a need to withdraw your term deposit early, as only one or a few term deposits would be withdrawn.

Timo is currently one of the leading banks that allow our customers to open term deposits right on their couch with attractive rates and flexible rates. Additionally, to help customers maximize their interest earning, Timo app also offers customers the option to split their term deposit into smaller amounts so that they would only have to withdraw from one of them when needed. Find out more information here.

Open an investment account with VinaCapital

Using your savings for investment can bring a range of different benefits, including: earning additional income from your investment, maximizing the rate of return and having your investment managed by professional fund managers. VinaCapital has Open ended funds that are easy to invest in and have high earning potential.

An Open-end fund is a professionally managed fund that consist of a combination of stocks, bonds and other financial assets of investors making it  suitable for anyone with the means and looking to achieve long-term financial goals. While investing in companies generates stocks, investing in open-end funds generates returns and capital gains. In Vietnam, there are currently two types of well-known open-end investment funds that are easy to carry out and generate high interest, including: equity opportunity fund and enhanced fixed income fund.

With the goal of delivering superior returns to both international and Vietnamese investors, VinaCapital is one of Vietnam’s foremost experts on investments. With more than 15 years proven expertise in Vietnam, VinaCapital offers multiple funds with different risk and return profiles that meet different investors’ needs.

To help our customers invest safely and effectively, Timo also allows our customers to open an investment account with VinaCapital right in the app with a minimum budget of 2.000.000 VND. Find out more information here.