According to a survey by PV Newspaper Lao Dong, the savings interest rate listed by PVcomBank is the highest for two terms of 12 and 13 months, up to 9,5%/year. However, to enjoy this extremely high interest rate, customers need to meet the conditions of depositing a minimum of VND 2.000 billion at the counter and only applies to products that receive interest at the end of the period.
In addition, under normal conditions, when customers deposit money online for 1-5 months, PVcomBank lists an interest rate of about 2,85%/year.
For terms of 6-11 months, PVcomBank lists savings interest rates from 4,3%/year. Customers who deposit money for 12 months receive an interest rate of 4,8%/year. Customers who save for 18-36 months receive the highest interest rate at 5,1%/year.
Customers who deposit short-term money from 1-3 weeks only receive interest at 0,5%/year.
Readers can quickly calculate bank deposit interest through the following formula:
Interest = Deposit x interest rate (%)/12 months x number of months deposited
For example, you deposit 1 billion VND into PVcomBank, with an interest rate of 4,8% for a 12-month term. The interest you receive is estimated by:
1 billion VND x 4,8%/12 x 12 months = 48 million VND.
Before depositing savings, readers should compare savings interest rates between banks and interest rates between terms to enjoy the highest interest.
* Information about interest rates is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for advice.
Readers can refer to more articles on interest rates HERE.
