What is the 1-week savings interest rate at banks?

Deposit interest rate is the interest rate that banks pay on deposits of organizations or individuals in the bank. Deposit interest rates have many different levels depending on the type of deposit (non-term, term or savings...), deposit term and deposit size.

One-week deposit interest rate is the interest rate that the bank pays to organizations and individuals who have savings deposits in the bank for a period of one week. The method of calculating one-week deposit interest rates will be different between banks. Therefore, customers need to update the one-week deposit interest rates of banks to make the right choice.

The formula for calculating weekly interest is as follows:

Interest = Deposit amount x interest rate (%/year) x number of deposit days/360

In which: The number of days sent here is the number of days of the week sent:

1 week = 7 days; 2 weeks = 14 days; 3 weeks = 21 days

With a 1-week term deposit, if you withdraw your money on time, you will receive the full interest rate. If you register for a 1-week term deposit but withdraw before the due date, the interest will be calculated at the non-term interest rate.

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1 week deposit interest rates of banks

Most banks charge interest when depositors keep their savings for a period of one week or more. However, the amount of deposit and the interest rate vary from bank to bank. For example:

For state-owned banks, at Vietcombank , as of February 5, 2024, the bank's 1-week interest rate is currently at 0.2%/year.

For private banks, at ACB , the bank's 1-week savings interest rate is at 0.5%/year.

Some other private banks such as Eximbank, NCB, ABBank also apply a 1-week term interest rate of 0.5%/year.

Minh Huong (synthesis)

Source: https://vtc.vn/lai-suat-tiet-kiem-ky-han-1-tuan-tai-cac-ngan-hang-la-bao-nhieu-ar851862.html