If I deposit 200 million VND, what interest will I receive?

SHB is currently offering the highest interest rate of 6.1% per year for online savings deposits of 36 months or more. (Illustrative image: Tra My)

For over-the-counter savings deposits with interest paid at the end of the term, SHB lists the interest rate for 1-month and 2-month terms at 3.3%/year. For terms of 3-5 months, the interest rate is 3.6%/year. For terms of 6-11 months, customers enjoy an interest rate of 4.7%/year.

For terms of 12-15 months, SHB is currently offering a deposit interest rate of 5.2%/year. The rate for an 18-month term is 5.3%/year; for a 24-month term it is 5.5%/year; and for a 36-month term or longer it is 5.8%/year. Of these, 5.8%/year is the highest interest rate offered for regular savings deposits made at the counter.

Notably, savings deposits of 2 billion VND or more will receive an interest rate 0.1 percentage point higher than those below 2 billion VND, equivalent to 3.4 - 5.9% per year.

SHB savings interest rate chart. Screenshot.

At the end of August, SHB's online deposit interest rates ranged from 3.5% to 6.1% per year. 1-month and 2-month terms offered an interest rate of 3.5% per year. Terms from 3 to 5 months offered interest rates of 3.8-3.9% per year.

For terms of 6-8 months, the deposit interest rate is 5% per year. For terms of 9-11 months, the applicable interest rate is 5.1% per year.

For a 12-month term, the current deposit interest rate is 5.5%; 13-month and 15-month terms have the same interest rate of 5.6%/year; 18-month term is 5.7%/year and 24-month term is 5.8%/year, with no new adjustments.

Notably, SHB offers the highest savings deposit interest rate of 6.1% per year for customers depositing money for a term of 36 months or more, through online savings accounts.

What interest rate will I receive if I deposit 200 million VND in a savings account?

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 200 million VND into SHB Bank for a 24-month term and earn an interest rate of 5.8% per year, the interest you will receive will be as follows:

200 million VND x 5.8%/12 months x 24 months = 23.2 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 articles about interest rates HERE.

Source: https://laodong.vn/tien-te-dau-tu/lai-suat-shb-gui-200-trieu-dong-nhan-tien-lai-bao-nhieu-1394115.ldo