According to a survey conducted by Lao Dong Newspaper on January 14, 2024, involving nearly 30 banks in the system, PVcomBank leads the list of 12-month term savings interest rates, offering up to 10% per year. However, to enjoy this extremely high interest rate, customers need to deposit a minimum of 2,000 billion VND at the counter, and this only applies to products with interest paid at the end of the term.
Under normal conditions, PVcomBank is currently offering the highest interest rate of 5.1% per year for online savings deposits with interest paid at the end of the term. If customers deposit money at the counter, they only receive an interest rate of 4.8% per year.
HDBank lists an interest rate of 8% per year for a 12-month term, provided a minimum balance of 300 billion VND is maintained. Under normal conditions, when depositing online for a 12-month term, customers receive an interest rate of 5.7% per year. If customers deposit money at the counter, they only receive an interest rate of 5.5% per year.
Under normal conditions, HDBank is currently offering the highest interest rate at 6.5% per year for online deposits with a term of 18 months.
NCB is currently offering the highest interest rate of 5.7% per year for 12-month deposits at the An Phu branch. Customers using traditional deposit accounts only receive an interest rate of 5.55% per year.
Currently, NCB is offering the highest interest rate at 6% per year for customers depositing savings at An Phu for 15-60 months.
Similarly, NamABank is currently offering the highest interest rate of 5.7% for a 12-month term when customers deposit money online and receive interest at the end of the term. NamABank's interest rate schedule ranges from 0.5-6.1% per year.
Following suit, BaoVietBank is currently offering the highest interest rate for a 12-month term at 5.6% per annum when customers deposit money online and receive interest at the end of the term.
Deposit 1 billion VND, after 12 months receive how much interest?
You can refer to the interest calculation method to find out how much interest you will receive after depositing your savings. To calculate interest, you can apply the following formula:
Interest = Deposit amount x Interest rate %/12 x Number of months deposited.
For example, if you deposit 1 billion VND into Bank A for a 12-month term and earn an interest rate of 5.7% per year, the interest you receive will be as follows:
1 billion VND x 5.7%/12 x 12 = 57 million VND.
* Interest rate information is for reference only and may change from time to time. Please contact your nearest bank branch or hotline for specific advice.
Readers can find more information about interest rates HERE.
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