Deposit 700 million receive how much interest?

Illustration: Tra My

Compare the latest 6-month term interest rates

According to Lao Dong Newspaper (2:00 p.m. on November 25, 2023), 6-month term interest rates at more than 20 banks are fluctuating from 4.3% - 5.7%, depending on the bank. In particular, the group of banks with high interest rates such as: HDBank (5.7%), PVcomBank (5.6%), NCB (5.35%), VPBank (5.3%)...

Group of banks such as: Agribank , BIDV, ABBank, Vietinbank, 6-month term interest rate at 4.3%.

Compare the latest 6-month term interest rates at current banks. Graphics: Minh Huy

Compare the latest 9-month term interest rates

For the 9-month term, banks listed interest rates ranging from 4.3 - 5.6%. In particular, the group of banks with the highest interest rates include: PVcomBank (5.6%), HDBank (5.5%), NCB (5.45%), Kienlongbank (5.4%), MSB (5.4%)...

Compare 9-month term interest rates at current banks. Graphics: Minh Huy

Deposit 700 million VND for 6-month or 9-month term, how much interest can I receive at most?

To calculate interest on savings deposits at the bank, you can apply the formula:

Interest = deposit x interest rate %/12 x number of months of deposit

For example, if you deposit 700 million VND for a 6-month term at HDBank with an interest rate of 5.7%/year, you can receive: 700 million VND x 5.7%/12 x 6 = 19.95 million VND.

With the same amount and term above, if you deposit at HDBank with an interest rate of 5.5%, the interest you receive will be: 700 million VND x 5.5% / 12 x 9 = 28,875 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.

Source: https://laodong.vn/kinh-doanh/lai-suat-cao-nhat-6-thang-9-thang-gui-700-trieu-nhan-bao-nhieu-tien-lai-1271928.ldo