Where should I deposit my savings?

Comparing interest rates at Agribank, KienlongBank, and Nam A Bank: Where to deposit your savings? — Comparison of interest rates at Agribank , KienlongBank, and Nam A Bank on January 3, 2024. Chart: Khuong Duy

Agribank interest rates

Interest rate table recorded at Agribank. Recorded on the morning of January 3, 2023. — Interest rate table as recorded on the Agribank website. Recorded on the morning of January 3, 2023.

Agribank interest rate chart at the beginning of the morning of January 3, 2024. Graphic: Khuong Duy

KienlongBank interest rates

The online interest rate table is available on the KienlongBank website. Recorded on the morning of January 3, 2023.

Online interest rate chart at KienlongBank at the beginning of the morning of January 3, 2024. Graphic: Khuong Duy

Online interest rates at Nam A Bank

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Earning 30 million VND per month, I've been saving for almost 7 years but still haven't dared to take out a loan to buy a house.Despite earning 30 million VND per month and having 500 million VND in savings, Ms. Hang is still hesitant to buy a house due to concerns about prolonged debt pressure and a lack of contingency funds for unexpected risks.

How much interest do I earn on a 500 million VND deposit?

Online interest rate table as recorded on the Nam A Bank website. Recorded on the morning of January 3, 2023.

Online interest rate update at Nam A Bank at the beginning of the morning of January 3, 2024. Graphic: Khuong Duy

What interest rate will I receive if I deposit 500 million VND at Agribank, KienlongBank, or Nam A Bank?

To calculate the interest earned on a bank deposit, you can use the following formula:

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

For example, if you deposit 500 million VND at Bank A for a 12-month term with an interest rate of 3.5%, the amount of money you can receive is:

Interest = 500 million VND x 3.5%/12 x 12 months = 26.5 million VND.

With the same 500 million VND, if you deposit it in a savings account at Bank B for 12 months with an interest rate of 5.7%, the amount of money you can receive will be:

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Interest = 500 million VND x 5.7%/12 x 12 months = 28.5 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 on Lao Dong Newspaper here...

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