Compare interest rates of banks
According to a survey by Lao Dong reporters of nearly 30 banks in the system on August 20, 2023, most banks are listing 15-month term interest rates below 7.3%/year.
Leading the list of banks with the highest interest rates for 15-month terms is CB BANK (7.3%/year) when customers deposit savings online. In addition, for mobilization interest rates, customers receiving interest at the end of the term receive an interest rate of 7.2%/year.
Following closely is VRB - in second place - currently listing the highest interest rate for a 15-month term of 7.2%/year for individual customers. This interest rate of VRB is effective from August 2, 2023.
Ranked 3rd at 15-month term are Oceanbank and BAOVIETBank, with interest rate of 7.1%/year.
Specifically, customers who deposit savings online at Oceanbank receive an interest rate of 7.1%/year. If customers deposit savings at the counter, they only receive an interest rate of 7%/year.
BAOVIETBank lists the 15-month term interest rate at 7.1%/year when customers receive interest at the end of the term. Customers who receive interest in advance receive an interest rate of 6.54%/year. Customers who receive interest periodically every month receive an interest rate of 6.89%/year.
Which bank do you deposit 1 billion dong in?
You can refer to the interest calculation method to know how much interest you will receive after saving. The interest calculation formula is as follows:
Interest = Deposit x deposit interest rate %/12 x number of months of deposit
For example, you deposit 400 million VND in Bank A, for a term of 6 months and enjoy an interest rate of 7.4%/year, the interest received is as follows:
400 million VND x 7.4%/12 months x 6 months = 18.5 million VND.
With the same amount and term above, if you deposit at Bank B with an interest rate of 5%, the interest received will be as follows:
400 million VND x 5%/12 months x 6 months = 12.5 million 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.
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