Phu Dong Savings: SACOMBANK’s 15-Year Journey of Pioneering Financial Education for Children

Financial Management – An Essential Life Skill for Children

As children are exposed to shopping and digital payments at an increasingly young age, helping them understand the value of money and make responsible spending decisions has become an important part of their development. Beyond simply giving children pocket money, many parents now encourage them to experience saving firsthand, teaching them that every amount of money is earned through persistence and hard work.

Around the world, financial literacy has long been recognized as an essential life skill and incorporated into educational curricula in many countries. In Vietnam, it has also attracted growing attention from families, schools, and society. The earliest lessons often begin with simple activities such as saving coins in a piggy bank, setting aside money for a desired purchase, or learning to distinguish between genuine needs and impulsive wants.

When Saving Becomes a Meaningful Experience

More than a decade ago, recognizing this growing educational trend, SACOMBANK introduced Phu Dong Savings in 2011 – the first savings product in Vietnam specifically designed for children.

With Phu Dong Savings, children can own a savings account registered in their own names. This distinctive feature gives them a genuine sense of ownership over their own "assets," fostering independence, responsibility, and sound financial habits from an early age.

The product also offers two competitive interest rate tiers, encouraging long-term and sustainable savings. Deposits can be made conveniently through digital banking channels, ATMs, or Cash Deposit Machines (CDMs), allowing parents to support their children's savings journey anytime and anywhere without being constrained by branch operating hours.

One Savings Account, Countless Life Lessons

Beyond offering a financial product, SACOMBANK has partnered with organizations providing career exploration cities and experiential learning programs for children. Through engaging and interactive activities, the Bank aims to give children opportunities to learn through play, explore future careers, develop life skills, and cultivate independence from an early age.

After 15 years, Phu Dong Savings remains one of SACOMBANK's flagship products, reflecting the Bank's long-term commitment to supporting Vietnamese families in fostering financial literacy among future generations. This past June, SACOMBANK continued to launch promotional campaigns and loyalty reward programs for customers participating in the product, further encouraging saving habits while enhancing the overall experience for children and their families.