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There is not an ideal number of how much you should save as your savings money depends on several factors and one’s financial situation. However, there is still a need for each and everyone of us to save a certain amount of money to be ready for the future.

Why do you need to save money?

When it comes to saving, there would be more than one reason for you to consider saving from now. Some common reasons include:
1/ Potential risks in life: These are things that cannot be expected or foreseen, such as: sickness, accidents, etc. When these potential risks occur without financial support, you will easily face several difficulties.
2/ Potential plans in the future: You might be having future business plans such as opening a start-up business, buying a house for investment purposes, etc. As business plans would always need a certain amount of capital in the beginning, having a savings amount will help you to execute these future plans more easily.
3/ Be financially independent: Having your own savings means you are more likely to be financially independent instead of having to depend on your family, spouse, etc.

Each of us will have different reasons to save money instead of spending all of our monthly income. Saving money will help you to maintain your daily life and build a strong financial foundation for the future.

How much should you save before you are 30?

Your savings amount will entirely depend on your financial capability and your monthly income. However, to make sure you effectively save a certain amount of money every month, you can apply the following formula for your monthly income. In particular, you should break your income down into 6 main accounts, based on the JARS System of money management, including:
– Necessities account – 55%
– Savings account – 10%
– Education account – 5%
– Financial freedom account – 10%
– Entertainment account – 10%
– Charity account – 10%
As you can see, from this formula, you should save 10% of your income per month. When you have a certain standard, you can easily calculate how much you should be able to save before you are 30. For instance, you are currently 26 years of age and your monthly income is 20.000.000 VND/month. If you apply the above formula, you should be able to save 96 millions VND when you are 30 years of age. If you can save this much money, you can easily earn interest if you open a savings account or invest in your start-up business.

What is the most effective method of savings?

There are currently several savings methods of saving for you to choose from. Two of the most common savings methods are known to be independent savings and saving with a third party. With independent savings, you would start a plan on your own and execute your plan by stacking cash in your safe. On the other hand, opening a savings account at a bank or buying insurance are some examples of saving with a third party.
At the moment, the majority of banks offer several savings products for you to choose from. However, online savings account is the product that can help you plan and manage your savings more effectively. Timo is currently one of the banks in the marketing that also provides this savings product. Find out more about Timo Term Deposit with attractive interest rates here.


  • Important notes:
    From 5th July 2019, foreign nationals are no longer eligible for Goal Save Accounts as stated in Circular no. 48/2018/TT-NHNN. For Term Deposit Accounts, 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.

After a whole year full of hard work and saving, how much of your account balance you are planning to save with the purpose of generating interest? No matter how much you are planning to put into your savings account, keep in mind that you should choose the kind of savings method that would not make your life difficult. To make this happen, check out how Timo Term Deposit works in the article below, as well as how it would help you to maximize your interest.

1. Start saving now without having to wait

Are you currently waiting for several things to happen in order to start putting your money into a savings account? For instance, you might be waiting to have enough money to open a savings account, or you already have enough money but are waiting to have free time to visit your bank to open a savings account. With Timo Term Deposit, you will not have to wait any longer as every step and procedure can be done within a blink of the eye in the Timo app. Additionally, Timo Term Deposit offers the following convenient features:

  • Low minimum requirement – 1.000.000 VND
  • Competitive interest rates – up to 7.6%/year
  • Start saving whenever you have money without having to wait for anything as a Term Deposit can be open in the Timo app within a few swipes and taps


Before opening a savings account to earn interest, a lot of people hesitate as they are concerned that they will lose a fair amount of interest if an urgent matter comes up and they end up having to withdraw their money ahead of time. If this is your concern, Timo would be a perfect option as we have a way to help you minimize the loss of interest in these situations.

2/ How to minimize losses of early withdrawal with Timo Term Deposit?

The highest possible interest rate does not always mean that it would help you to generate the largest amount of interest. In an unexpected situation that requires you to withdraw money ahead of time, the higher the interest rate, the higher the amount of interest you would lose. This is why Timo Term Deposit is designed to help you avoid losing a large amount of interest by suggesting users to split their savings amount in smaller accounts. This process can be done quịcly while you are opening a Term Deposit in the Timo app. Upon opening a Term Deposit, depending on the amount of money you wish to save, Timo will suggest you to either open 1 account or split it into 4 accounts. If your savings money is split into 4 Term Deposits, you can easily withdraw 1 during unexpected situations and continue to earn interest on the remaining 3 Term Deposits. With this feature of our Term Deposit, Timo account holders will not need to worry that they would lose all of their interests even when they are in the situation where they need to withdraw some of their savings.

However, be advised that early withdrawal is not always encourage as the best way to maximize your interest is not to withdraw any of your Term Deposits ahead of time.

3/ Unlimited number of Term Deposits is allowed

Hopefully this article is helping you to know how to generate interest from your savings, even with a small amount, as well as how to split your savings account so you would not lose all of your interest in unexpected situations.

Do keep in mind that as Timo Term Deposit encourages users to hold several small accounts, the number of Term Deposits you can open in the Timo app is not restricted. No matter how many Term Deposits you have already opened, you can still easily have another Term Deposit at only 1.000.000 VND.
Don’t leave your savings idle! Put it into work with Timo Term Deposit and enjoy your stress-free savings method brought from Timo!

After a whole year full of hard work and saving, how much of your account balance you are planning to save with the purpose of generating interest? No matter how much you are planning to put into your savings account, keep in mind that you should choose the kind of savings method that would not make your life difficult. To make this happen, check out how Timo Term Deposit works in the article below, as well as how it would help you to maximize your interest.

1. Start saving now without having to wait

Are you currently waiting for several things to happen in order to start putting your money into a savings account? For instance, you might be waiting to have enough money to open a savings account, or you already have enough money but are waiting to have free time to visit your bank to open a savings account. With Timo Term Deposit, you will not have to wait any longer as every step and procedure can be done within a blink of the eye in the Timo app. Additionally, Timo Term Deposit offers the following convenient features:

  • Low minimum requirement – 1.000.000 VND
  • Competitive interest rates – up to 7.6%/year
  • Start saving whenever you have money without having to wait for anything as a Term Deposit can be open in the Timo app within a few swipes and taps

Before opening a savings account to earn interest, a lot of people hesitate as they are concerned that they will lose a fair amount of interest if an urgent matter comes up and they end up having to withdraw their money ahead of time. If this is your concern, Timo would be a perfect option as we have a way to help you minimize the loss of interest in these situations.

2/ How to minimize losses of early withdrawal with Timo Term Deposit?

The highest possible interest rate does not always mean that it would help you to generate the largest amount of interest. In an unexpected situation that requires you to withdraw money ahead of time, the higher the interest rate, the higher the amount of interest you would lose. This is why Timo Term Deposit is designed to help you avoid losing a large amount of interest by suggesting users to split their savings amount in smaller accounts. This process can be done quịcly while you are opening a Term Deposit in the Timo app. Upon opening a Term Deposit, depending on the amount of money you wish to save, Timo will suggest you to either open 1 account or split it into 4 accounts. If your savings money is split into 4 Term Deposits, you can easily withdraw 1 during unexpected situations and continue to earn interest on the remaining 3 Term Deposits. With this feature of our Term Deposit, Timo account holders will not need to worry that they would lose all of their interests even when they are in the situation where they need to withdraw some of their savings.

However, be advised that early withdrawal is not always encourage as the best way to maximize your interest is not to withdraw any of your Term Deposits ahead of time.

3/ Unlimited number of Term Deposits is allowed

Hopefully this article is helping you to know how to generate interest from your savings, even with a small amount, as well as how to split your savings account so you would not lose all of your interest in unexpected situations.

Do keep in mind that as Timo Term Deposit encourages users to hold several small accounts, the number of Term Deposits you can open in the Timo app is not restricted. No matter how many Term Deposits you have already opened, you can still easily have another Term Deposit at only 1.000.000 VND.

Don’t leave your savings idle! Put it into work with Timo Term Deposit and enjoy your stress-free savings method brought from Timo!

After a whole year full of hard work and saving, how much of your account balance you are planning to save with the purpose of generating interest? No matter how much you are planning to put into your savings account, keep in mind that you should choose the kind of savings method that would not make your life difficult. To make this happen, check out how Timo Term Deposit works in the article below, as well as how it would help you to maximize your interest.

1. Start saving now without having to wait

Are you currently waiting for several things to happen in order to start putting your money into a savings account? For instance, you might be waiting to have enough money to open a savings account, or you already have enough money but are waiting to have free time to visit your bank to open a savings account. With Timo Term Deposit, you will not have to wait any longer as every step and procedure can be done within a blink of the eye in the Timo app. Additionally, Timo Term Deposit offers the following convenient features:

  • Low minimum requirement – 1.000.000 VND
  • Competitive interest rates – up to 7.6%/year
  • Start saving whenever you have money without having to wait for anything as a Term Deposit can be open in the Timo app within a few swipes and taps

Before opening a savings account to earn interest, a lot of people hesitate as they are concerned that they will lose a fair amount of interest if an urgent matter comes up and they end up having to withdraw their money ahead of time. If this is your concern, Timo would be a perfect option as we have a way to help you minimize the loss of interest in these situations.

2/ How to minimize losses of early withdrawal with Timo Term Deposit?

The highest possible interest rate does not always mean that it would help you to generate the largest amount of interest. In an unexpected situation that requires you to withdraw money ahead of time, the higher the interest rate, the higher the amount of interest you would lose. This is why Timo Term Deposit is designed to help you avoid losing a large amount of interest by suggesting users to split their savings amount in smaller accounts. This process can be done quịcly while you are opening a Term Deposit in the Timo app. Upon opening a Term Deposit, depending on the amount of money you wish to save, Timo will suggest you to either open 1 account or split it into 4 accounts. If your savings money is split into 4 Term Deposits, you can easily withdraw 1 during unexpected situations and continue to earn interest on the remaining 3 Term Deposits. With this feature of our Term Deposit, Timo account holders will not need to worry that they would lose all of their interests even when they are in the situation where they need to withdraw some of their savings.

However, be advised that early withdrawal is not always encourage as the best way to maximize your interest is not to withdraw any of your Term Deposits ahead of time.

3/ Unlimited number of Term Deposits is allowed

Hopefully this article is helping you to know how to generate interest from your savings, even with a small amount, as well as how to split your savings account so you would not lose all of your interest in unexpected situations.

Do keep in mind that as Timo Term Deposit encourages users to hold several small accounts, the number of Term Deposits you can open in the Timo app is not restricted. No matter how many Term Deposits you have already opened, you can still easily have another Term Deposit at only 1.000.000 VND.

Don’t leave your savings idle! Put it into work with Timo Term Deposit and enjoy your stress-free savings method brought from Timo!

After a year filled with hard work and savings, how much of your account balance you are planning to save with the intention of generating interest? No matter how much you are planning to put into your savings account, keep in mind that you should choose the kind of savings method that would not make your life difficult. To make this happen, check out how Timo’s Term Deposit works in the article below, as well as how it would help you to maximize your interest.

1. Start saving now without having to wait

Are you currently waiting for several things to happen in order to start putting your money into a savings account? For instance, you might be waiting to have enough money to open a savings account, or you already have enough money but do not have free time to visit your bank to open a savings account. With Timo Term Deposit, you do not have to go to the bank as every step and procedure can be done in minutes right in the Timo app. Additionally, Timo’s Term Deposit offers the following convenient features:

  • Low minimum requirement – 1.000.000 VND
  • Competitive interest rates – up to 7.6%/year

Start saving whenever you have money without having to wait, as a Term Deposit can be opened in the Timo app in a few swipes and taps


  • 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.



Before opening a savings account to earn interest, a lot of people hesitate as they are concerned that they will lose a fair amount of interest if an urgent matter comes up and they end up having to withdraw their money ahead of time. If this is your concern, Timo would be a perfect option as we have a way to help you minimize the loss of interest in these situations.

2/ How to minimize losses of early withdrawal with Timo Term Deposit?

The highest possible interest rate does not always mean that it would help you to generate the largest amount of interest. In an unexpected situation that requires you to withdraw money ahead of time, the higher the interest rate, the higher the amount of interest you would lose. This is why Timo’s Term Deposit is designed to help you avoid losing a large amount of interest by making the smart suggestion of splitting their total savings amount into smaller accounts. This can be done instantly and quickly when you open a Term Deposit in the Timo app. Once you open a Term Deposit, depending on the amount of money you wish to save, Timo will suggest that you either open 1 account or split it into 4 accounts. If you choose the option of splitting it into 4 Term Deposits, you can easily withdraw 1 in case of an emergency and continue to earn interest on the remaining 3 Term Deposits. With this feature of our Term Deposit, Timo account holders do not need to worry that they would lose all of their interest if they are in a situation where they need to withdraw some of their savings.

However, be advised that early withdrawal is not always encouraged as the best way to maximize your interest is not to withdraw any of your Term Deposits ahead of time.

3/ Unlimited number of Term Deposits is allowed

Hopefully this article will help you to generate interest from your savings, even with a small amount, as well as let you discover how to split your savings account so you would not lose all of your interest in unexpected situations.

Do keep in mind that just as Timo’s Term Deposit encourages users to hold several small accounts, the number of Term Deposits you can open in the Timo app is not restricted. No matter how many Term Deposits you have already opened, you can still easily have another Term Deposit at only 1.000.000 VND.
Don’t leave your savings idle! Put it into work with Timo Term Deposit and enjoy your stress-free savings method brought to you by Timo!