How much interest do I earn on a 200 million VND deposit?

Graphics: Khuong Duy

BIDV deposit interest rate update

According to observations by a reporter from Lao Dong newspaper on February 26, 2024, BIDV listed deposit interest rates around 1.9 - 5% per year.

Accordingly, the interest rates listed by this bank are as follows: 0.1%/year for demand deposits; 1.9%/year for 1-2 months; 2.2%/year for 3 months; 3.2%/year for 6 and 9 months; 4.8%/year for 12-18 months; and 5%/year for 24-36 months.

The highest interest rate at BIDV is currently 5% per year.

Interest rate table for individual customers at BIDV. Screenshot from BIDV website, February 26, 2024.

BIDV interest rate update. Chart: Khuong Duy

Compared to other banks in the Big4 group, BIDV currently offers the highest interest rates.

Interest rate chart for various maturities at Vietcombank, Agribank , VietinBank, and BIDV. Data recorded on February 26, 2024. Unit: %/year. Chart by: Khuong Duy

Additionally, readers can refer to the interest rates of some other banks recorded by PV Lao Động on February 26th:

A compilation of some banks offering the highest interest rates on the market as of February 26th. Table: Tra My

How much interest will I receive if I deposit 200 million VND at BIDV?

To quickly calculate interest earned on bank deposits, you can use the following formula:

Interest = Deposit amount x interest rate / 12 months x actual number of months deposited.

For example, if you deposit 200 million VND at BIDV for a 1-month term, with an interest rate of 1.7%, the interest received will be calculated as follows: 200 million VND x 1.9%/12 x 1 month ≈ 316,666 VND.

With the same amount of money and the same bank, if you deposit it in a 12-month term savings account with an interest rate of 4.8%/year, the amount you could receive would be: 200 million VND x 4.8%/12 x 12 months = 9.6 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.

Source: https://laodong.vn/tien-te-dau-tu/tron-bo-lai-suat-bidv-moi-nhat-gui-200-trieu-nhan-lai-ra-sao-1308479.ldo