Deposit 500 million VND and receive 57 million VND in interest.

MBBank applies a savings interest rate range of 0.1 - 5.6% per year for individual customers. (Illustrative image: Tra My)

MBBank lists savings interest rates for terms of 1-5 months ranging from 3.1% to 3.54% per year.

For terms of 6-11 months, MBBank lists a savings interest rate of 4.2%/year. Customers depositing for 12-18 months receive interest rates ranging from 4.9-4.8%/year. Customers depositing for 24-60 months receive the highest interest rate at 5.7%/year.

Customers who deposit money without a fixed term only receive an interest rate of 0.1% per year.

MBBank savings interest rate table as of August 30, 2024. Screenshot.

How much interest will I earn if I deposit 500 million VND in a savings account?

Readers can quickly calculate bank deposit interest using the following formula:

Interest = Deposit amount x interest rate (%)/12 months x number of months deposited

For example, if you deposit 500 million VND into MBBank, with an interest rate of 5.7% for a 24-month term, the interest you will receive is estimated to be:

500 million VND x 5.7%/12 x 24 = 57 million VND.

Before depositing savings, readers should compare savings interest rates between different banks and between different terms to earn the highest possible interest.

* Interest rate information is for reference only and may change from time to time. Please contact your nearest bank branch or hotline for advice.

Readers can find more articles about interest rates HERE.

Source: https://laodong.vn/tien-te-dau-tu/lai-suat-mbbank-gui-500-trieu-nhan-57-trieu-dong-tien-lai-1386995.ldo