Timo by BVBank review

Timo pays a fixed rate of 4.75% to 6.9% on a fixed account, and the rate type is fixed. That sits above the 3% median for savings accounts on the site, though only 21% of those are fixed.

A fixed savings account starts at a minimum deposit of VND 100,000, set in dong. The rate runs 4.75% to 6.9% across the available terms, and once the money goes in it stays committed for 1 to 24.

The payment account charges a monthly fee of VND 0, and transfers made inside the app carry a fee of VND 0. Inbound foreign currency transfers add a small percentage with a minimum and a maximum, excluding VAT, and conversion costs 0.05%.

Terms run 1 to 24 on this fixed account, so the money is committed for a set stretch. When the term ends, the choice is yours: roll the full balance over into another term, take the principal and stop, or let the deposit close with no renewal.

Timo holds 9 currencies, and the currency conversion fee is 0.05%. Inbound foreign currency transfers add a small percentage with a minimum and a maximum, excluding VAT, so receiving money in another currency costs more than conversion alone.

Transfers settle Instant 24/7 via NAPAS, and free ATM withdrawals come with the account. Money can leave to a bank, card or wallet, so a term that ends can be paid out without a branch visit.

The savings are a bank deposit with Bank for Foreign Trade of Vietnam (BVBank), the institution that operates Timo in Vietnam, rather than a pooled investment product. Everything is arranged digitally, and the term of 1 to 24 decides how long the money sits still before the maturity choice.

Support runs on email, phone and help centre, covering email, phone and a help centre. That handles questions on the fixed term of 1 to 24 and the maturity options, and a phone call is quickest when a transfer settling Instant 24/7 via NAPAS is involved.