Deposit 1 billion VND and receive more than 58 million VND in interest

A survey by Lao Dong Newspaper (October 1, 2023) with nearly 30 banks in the system shows that 11-month savings interest rates are being listed by banks around 4.5 - 6.4%/year.

Leading the list, PVcomBank is listing 11-month term interest rates ranging from 6.04 - 6.4%. In particular, customers receive the highest 11-month term interest rate of 6.4%/year when making online savings deposits, receiving interest at the end of the term.

In addition, PVcomBank is offering the highest interest rate of 6.8%/year when customers deposit savings for terms of 18, 24, and 36 months.

PVcomBank savings interest rate table on October 1, 2023. Screenshot

Also for the 11-month term, CBBank listed the highest interest rate at 6.4%/year when customers deposit savings online. Currently, CBBank is listing the highest interest rate at 6.7%/year when customers deposit savings online for a term of 13 months or more.

CBBank savings interest rate table on October 1, 2023. Screenshot. — CBBank savings interest rate table on October 1, 2023. Screenshot

Following closely is NCB, which is listing 11-month term interest rates ranging from 5.86 - 6.35%/year. Of which, customers receive the highest savings interest rate of 6.35%/year when depositing in An Phu savings account and receiving interest at the end of the term. Customers receiving interest for 1 month receive an interest rate of 6.18%/year.

In addition, NCB is listing the highest savings interest rate of 6.4%/year when customers deposit An Phu savings package from 12 - 36 months.

NCB bank savings interest rate table on October 1, 2023. Screenshot. — NCB savings interest rate table on October 1, 2023. Screenshot.

Below is a comparison table of 11-month savings interest rates compiled by Lao Dong Newspaper on October 1, 2023 in a system of nearly 30 banks, readers can refer to:

What is the highest interest rate for depositing 1 billion VND for 11 months?

To quickly calculate bank interest, you can apply the interest calculation formula:

Interest = Deposit x interest rate/12 months x actual number of months of deposit

For example, if you deposit 1 billion VND at bank A for 11 months, with an interest rate of 6.4%, the interest received is as follows:

1 billion VND x 6.4%/12 x 11 months ≈ 58.66 million VND.

With the same amount and term above, if you deposit savings at bank B with an interest rate of 4.5%/year, the amount you can receive will be:

1 billion VND x 4.5%/12 x 11 months ≈ 41.25 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.

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