Vietnamese Bank Offers Gold Time Deposits

Vietnamese Bank Offers Gold Time Deposits
Profile photo of Redmond Weissenberger

I just got this from an ex-pat living in Vietnam – the Asia Commercial Bank in Vietnam is offering Time Deposits denominated in Physical Gold. If it can be done in “Communist” Vietnam, why not here!?

You can visit the website here

Below are the details

H/T to Tor Langballe



  • On or prior to maturity, you can switch to a new term.
  • You may transfer ownership right if deposit term has not due in order to maintain interest.
  • Can be used as collateral for loans, opening credit card or as guarantee for third party’s borrowing at ACB.
  • Verification of customer’s finance situation for purposes of traveling, studying abroad, etc.
  • Easy to check account information via Internet Banking
  • Basis of approval of overdraft limit.

Product Features:

  • Deposit term: publication of specific term (from 1 to 36 months)
  • Deposit currencies: Gold SJC 99.99, ACB Gold
  • Minimum initial deposit: 2/10 gold taels
  • Method of interest payment: quarterly, term-end
  • Transaction documents: deposit slip, withdrawal slip, transfer slip.
  • Using account:
  • Deposit: customers can deposit in cash or can transfer from current or savings account and no further deposit can be made until maturity.
  • Withdrawal: customers can only withdraw when savings account is on due date.
  • Transfer: customers can remit money for time deposit in VND or Gold.

Fees and interest rate:

  • Interest rate
  • Service fee

Required Documents: ACB’s Information registration form:

  • Vietnamese: ID card or passport (original or notarized copy)
  • Foreigners: residential card or provisional stay card, passport, visa in validity (original copy)Other documents required by ACB.


If there is no customers’ information at ACB: Customers have to bring along documents as regulated and come to any branch or sub-branch and ask customer service bank-staff for opening account. Then, customers come to counter for deposits.

If there is customers’ information at ACB: Customers come to any branch or sub-branch and ask customer service bank-staff for opening account. Then, customers come to counter for deposits.

  • Ross

    Guess they don't call it "the golden triangle" for nothing.

  • Kel

    This is great, but I'm not sure I completely understand. Is it a bank where one can deposit gold they own (or buy with paper currency tied to this bank's account), or where you deposit cash but the cash is redeemable in gold? If the latter, how do we know that they are not using fractional reserves (in which case the account is useless, in my opinion)? Also, I can't tell whether you have to be residing in Vietnam to open an account

    • Redmond Weissenberger

      Good questions Kel – I'll see if I can dig up some more info…

Profile photo of Redmond Weissenberger

Redmond is the director of the Ludwig von Mises Institute of Canada.

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