Source-backed analysis7
Review basis
The AppDuo team prepared this review by analysing product features, official documentation and user feedback to help you understand its strengths, limitations and suitability for your needs.
7 reference sourcesInformation updated Nov 10, 2026
How we review
Cake by VPBank Review
VPBank's mobile-only digital bank, bundling savings, credit cards and loans
By AppDuo Editorial Team · Updated
- iOS
- Android
On this page
Decide at a glance
Our verdict
Cake suits people who want to open an account on their phone, with no branch visit, and manage savings, cards and loans in one app. The trade-offs: support runs only through the hotline, email and chat, some reviews complain of slow replies, and its App Store and Google Play privacy declarations do not match.
Best for: People who want to open an account via eKYC and bank fully on their phone
Skip it if: People who need branches, tellers or a full business-banking offer
Pros
- Account opening, deposits, withdrawals, transfers and SMS Banking are free per the cake.vn homepage
- High ratings: 4.6/5 on the App Store (67,000+ ratings) and 4.7/5 on Google Play (69,000+ reviews)
- Broad range: savings from VND 100,000, the Cake 2in1 credit card, cash loans, insurance and DNSE stock investing
Cons
- Cash loans carry 28.7% to 36% a year per the Google Play description, far above savings rates
- A Google Play review (January 2025, 45 found it helpful) reports a savings balance displaying incorrectly and an unanswered support email after 7 days
All pros and cons · Who is it for?
Pros
- Large for a digital bank: Cake reports over 7.6 million customers (September 2026)
Cons
- The App Store privacy label and Google Play Data safety section differ
Best for
- Savers who want online term deposits from a small amount (from VND 100,000)
- Be app users, where Cake has an entry in the menu
Skip it if
- Anyone prioritising data privacy who wants one consistent declaration
Experience & key features
What it is
Cake by VPBank is a mobile-only digital bank. According to VPBank's press release of 12 January 2021, Cake launched from a partnership between VPBank and Be Group: VPBank provides the banking services under its own licence, while beFinancial, a Be Group company, handles technology and operations. Cake runs on iOS and Android and can also be opened from inside the Be app.
Key features
Per the homepage and app listing, Cake offers payment accounts, term deposits, the Cake 2in1 credit card and co-branded cards (Be Cake, VieON Cake), cash loans, bill payments, phone top-ups, vehicle insurance and stock investing through DNSE. According to The Leader, Cake launched Cake 2in1 Premium in August 2026, letting customers pick the card package and colour and change benefits after the card is issued.
Costs and rates
The homepage lists account opening, deposits, withdrawals, transfers and SMS Banking as free. The advertised savings rate tops out at 6.9% a year, including a 2.2% a year bonus on a first deposit from VND 100,000 over 6 to 18 months; demand deposits earn just 0.1% a year. On the other side, cash loans charge 28.7% to 36% a year per the Google Play description. Check the current fee schedule and rate table in the app before deciding.
More analysis
Scale and how it compares
Cake says it has over 7.6 million customers and turned a profit after 3.5 years of operation; these are company-reported figures with no profit amount given. In September 2026 Cake received Euromoney's Vietnam's Best Digital Bank 2026 award in the group-level category. Compared with the apps of traditional banks such as VPBank NEO or Techcombank, Cake is leaner and aimed at people who only need to bank on their phone, but it has no branches.
Screenshots
Plans & pricing
Prices last verified Nov 10, 2026
Tài khoản Cake (khách hàng cá nhân)
Free
The cake.vn homepage lists account opening, deposits, withdrawals, transfers and SMS Banking as free. The launch press release (12 January 2021) likewise cited no transfer, account maintenance or SMS fees. The homepage does not show the full fee schedule, which sits in a separate section of the site.
- Free plan limits
- The Google Play description lists cash loans of VND 5 million to 60 million over 6 to 60 months, at a flat rate of 28.7% to 36% a year depending on the customer profile and lending partner. The Cake 2in1 credit card has a limit of up to VND 100 million. Term deposits start from VND 100,000.
- Free trial
- No free trial
Cancellation & refunds
Not applicable, as the app is free. Fees on loans and credit cards follow Cake's fee schedule.
Privacy
The Google Play Data safety section (self-declared by the developer) says the app collects no data, shares none with third parties, encrypts data in transit and accepts deletion requests. The App Store privacy label says the opposite: it declares many data types linked to the user and possibly used for tracking, including financial info, location, contact info and identifiers. The two declarations differ markedly. AppDuo did not cross-check Cake's full privacy policy, so read it before granting in-app permissions.
Cake by VPBank alternatives
7.7/10Techcombank Mobile
Techcombank's retail banking app with zero-fee transfers and auto-earning
7.5/10VPBank NEO
VPBank's digital banking app: eKYC onboarding, free transfers, many bundled services
Frequently asked questions
Does Cake charge an account maintenance fee?
The January 2021 launch release cited no account maintenance, transfer or SMS fees. The cake.vn homepage currently lists account opening, deposits, withdrawals, transfers and SMS Banking as free. The full fee schedule is in a separate section of the site.
Is Cake a real bank?
Cake is a digital bank operated under VPBank. VPBank's release says the banking services are provided under VPBank's licence, with beFinancial (Be Group) handling technology and operations.
How do I contact Cake support?
The app listing gives the hotline 1900 636 686 and the email [email protected], with the head office at 89 Lang Ha, Hanoi. Cake has no branch network.
What is the interest rate on Cake cash loans?
The Google Play description gives a flat rate of 28.7% to 36% a year on loans of VND 5 million to 60 million over 6 to 60 months, depending on the profile and lending partner. The maximum effective annual rate is 36%.
Review evidence & sources7
Scores
- Ease of use
- 8.0
- Features
- 7.8
- Value for money
- 7.6
- Performance
- 7.5
- Support
- 7.0
- Privacy & security
- 6.5
Why this score
Ratings of 4.6/5 on the App Store (over 67,000) and 4.7/5 on Google Play (over 69,000) suggest most users are satisfied. The listing says an online credit card application takes minutes. A few reviews do report display bugs. The interface is Vietnamese-only.
Why this score
Savings, credit cards, loans, bill payment, insurance, international receipts (Cake GlobalX) and DNSE investing. Broad for a digital-only bank, though without branches or business services on a par with traditional banks.
Why this score
Basic operations are free per the homepage. The advertised savings rate reaches 6.9% a year, but that is a conditional maximum. Cash loans from 28.7% a year are expensive. AppDuo did not review the full fee schedule.
Why this score
The listing commits to outages of at most 15 minutes each and 60 minutes a year (excluding announced maintenance). There is no independent uptime data, and one review reports a balance display bug.
Why this score
Support via the 1900 636 686 hotline, [email protected] and in-app chat; no branches. A January 2025 Google Play review complained of no email reply after 7 days; Cake replied publicly under that review.
Why this score
Google Play declares no collection or sharing, while the App Store label declares many data types that may be used for tracking, including financial info and location. Given this conflict and the unreviewed full policy, the score stays cautious.
What users say
- Apple App Store (Việt Nam)4.6/5 · 67,783
- Google Play4.7/5 · 69,500
Sources
- Vendor-providedCake official website (cake.vn)Nov 10, 2026
- Vendor-providedVPBank press release: launch of Cake (12/1/2021)Nov 10, 2026
- Vendor-providedVPBank news: Cake reaches 1 million users (25/12/2021)Nov 10, 2026
- storeApp Store listing (Vietnam)Nov 10, 2026
- storeGoogle Play listingNov 10, 2026
- pressThị trường Tài chính Tiền tệ: Euromoney award (11/9/2026)Nov 10, 2026
- pressThe Leader: Cake redefines digital banking (6/8/2026)Nov 10, 2026
Specs & compatibility
- Developer
- Cake Digital Bank (VPBank)
- Headquarters
- Vietnam
- Launched
- 2021
- Category
- Finance
Capabilities
- Mobile app
- Integrations
- AI features
Platforms
- iOS
- Android
Interface languages
- Vietnamese
Integrations
- DNSE (đầu tư chứng khoán)
- Be (ứng dụng gọi xe)
Support
- Phone
- Live chat
Change history
- Update.Cake receives Euromoney's Vietnam's Best Digital Bank 2026 award (group-level category); Cake reports over 7.6 million customers.
- Feature.The Leader reports Cake launched the Cake 2in1 Premium credit card in early August 2026 and says Cake has over 7 million customers.
- Update.VPBank reports Cake reached 1 million customers after 11 months of operation.
Full change history (5)
- Update.Earliest release date of the app on the Vietnamese App Store (per iTunes lookup data).
- Launch.VPBank announces the launch of the Cake digital bank in partnership with Be Group, with eKYC online account opening and a free Mastercard debit card.