With BIDV's interest rates rising, how much interest will I earn if I deposit 200 million VND?

With BIDV's interest rates rising, how much interest will I earn if I deposit 200 million VND? Image design: Huyen Mai.

Latest BIDV interest rates for August

According to Lao Dong newspaper, the Vietnam Investment and Development Bank (BIDV) recently issued a new interest rate schedule, which is currently listed as follows:

The interest rate for a 1-month term is 2% per annum.

The interest rate for a 3-month term is 2.3% per annum.

Interest rates for 6-9 month terms are at 3.3% per year.

Interest rates for 12-18 month terms are at 4.7% per annum.

The interest rate for a 36-month term is 4.9% per annum.

The latest deposit interest rate chart at BIDV. Screenshot.

In addition, the interest rates for savings deposits at BIDV's counters are currently listed as follows:

Interest rates for terms of 1-3 months are at 1.7% per year.

The interest rate for a 6-month term is 2% per annum.

The interest rate for a 9-month term is 3% per annum.

Interest rates for 12-36 month terms are at 4.7% per annum.

Among the Big4 banks (BIDV, Vietcombank, VietinBank, and Agribank ), VietinBank currently offers the most favorable interest rates compared to the others, followed by BIDV.

Accordingly, BIDV's interest rates currently range from 2.0-4.9%/year (online), Vietcombank's interest rates range from 1.6-4.7%/year, Agribank's from 1.7-4.8%/year, and VietinBank's interest rates range from 2.0-5.0%/year (online).

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

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

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

Therefore, by depositing 200 million VND at BIDV, customers can receive the highest interest rates as follows (applicable to online deposits):

1-month term: 333,333 VND.

3-month term: 1,150,000 VND.

6-month term: 3,300,000 VND.

9-month term: 4,950,000 VND.

12-month term: 9,400,000 VND.

36-month term: 28,800,000 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 HERE.

Source: https://laodong.vn/kinh-doanh/lai-suat-bidv-tang-cao-gui-200-trieu-nhan-lai-the-nao-1379306.ldo