A survey conducted by PV Lao Động on November 5, 2023, with nearly 30 banks in the system, revealed that most banks are listing interest rates for 24-month terms below 7% per year.
Leading the pack is PVcomBank, currently offering the highest interest rate of 6.5% per annum for 24-month term savings deposits when customers deposit online. Under normal conditions, this is also the highest interest rate offered by PVcomBank across all terms.
OceanBank is currently offering the highest interest rate of 6.5% per annum for 24-month term savings deposits when customers deposit online and receive interest at the end of the term. Customers depositing at the counter receive an interest rate of 6.4% per annum.
Currently, OceanBank is offering the highest interest rate at 6.5% per year for terms of 18, 24, and 36 months.
HDBank is currently offering the highest interest rate of 6.3% per annum for a 24-month term when customers deposit savings online. Under regular conditions, HDBank offers the highest interest rate of 6.5% per annum when customers deposit savings online for 18 months.
SHB is currently offering the highest interest rate of 6.3% per year for 24-month deposits made online. Additionally, for other terms, SHB offers interest rates ranging from 0.5% to 6.3% per year.
NCB is currently offering the highest interest rate of 6.1%/year for 24-month deposits at the An Phu Savings Bank, with interest paid at the end of the term. Customers with traditional savings accounts receive an interest rate of 5.95%/year when interest is paid at the end of the term.
If you deposit 1 billion VND in a 24-month term savings account, you will receive 130 million VND in interest.
You can refer to the interest calculation method to find out how much interest you will receive after depositing your savings. The formula for calculating interest is as follows:
Interest = Deposit amount x Deposit interest rate %/12 x Number of months deposited
For example, if you deposit 1 billion VND into Bank A for a 24-month term and earn an interest rate of 6.5% per year, the interest you receive will be as follows:
1 billion VND x 6.5%/12 months x 24 months = 130 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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