Latest Agribank interest rate fluctuations, deposit 500 million VND and receive unexpectedly high interest

Full set of Agribank interest rates at all terms

According to Lao Dong, in July 2024, savings interest rates at the Vietnam Bank for Agriculture and Rural Development (Agribank) fluctuated between 1.6-4.7%/year.

The current savings interest rates at Agribank are listed as follows:

1-month deposit interest rate is 1.6%/year.

3-month deposit interest rate is 1.9%/year.

Interest rate on 6-9 month term deposits is 3.0%/year.

Interest rates on deposits for terms greater than 12 months are 4.7%/year.

Deposit interest rate table at Agribank. Screenshot.

In the Big4 banking group including BIDV , Vietcombank, VietinBank, Agribank, VietinBank is currently holding the most preferential interest rate compared to the remaining banks, followed by BIDV's interest rate.

Accordingly, BIDV's interest rate currently fluctuates between 1.7-4.8%/year, Vietcombank's interest rate currently fluctuates between 1.6-4.7%/year, Agribank's interest rate fluctuates between 1.6-4.7%/year, VietinBank's interest rate fluctuates between 2.0 - 5.0%/year.

Although Agribank and Vietcombank interest rates fluctuate within a similar range, Agribank's interest rates are 0.1 percentage points higher than Vietcombank's for terms of 6 months, 9 months and 12 months.

Deposit 500 million at Agribank, how much interest do you receive at each term?

Readers can quickly calculate bank interest using the following formula:

Interest = Deposit x interest rate (%)/12 months x number of months of deposit.

Thus, depositing 500 million at Agribank, customers can receive the highest interest rate as follows (applicable to individual customers):

1 month term: 666,667 VND.

3 month term: 2,375,000 VND.

6 month term: 7,500,000 VND.

9 month term: 11,250,000 VND.

12 month term: 23,500,000 VND.

36 month term: 70,500,000 VND.

* Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.

Readers can refer to more articles about interest rates HERE.

Source: https://laodong.vn/kinh-doanh/bien-dong-lai-suat-agribank-moi-nhat-gui-500-trieu-dong-nhan-lai-cao-bat-ngo-1366483.ldo