A bank appears with an interest rate of 8% for 13-month savings.

Some banks are now offering an 8% interest rate on 13-month savings deposits. — 13-month savings interest rates in the banking system fluctuate around 4.4 - 10%. Graphics: Tuyet Lan

According to a survey conducted by Lao Dong newspaper on January 29, 2024, involving nearly 30 banks in the system, PVcombank's interest rate is leading the market for 13-month terms.

Specifically, PVcomBank is currently offering the highest savings interest rate of 10% per annum for a 13-month term. For mass savings products, applicable to deposits made at the counter for new deposit balances of 2,000 billion VND or more, this interest rate has decreased by 0.5% compared to the beginning of December 2023.

Under normal conditions, PVcomBank is listing the highest interest rate for a 13-month term at 5%/year when customers deposit savings at the counter.

PVcomBank's traditional savings interest rate chart. (Screenshot) — PVcomBank traditional savings interest rate table. Screenshot

In second place, HDBank offers an interest rate of 8.2% per annum for a 13-month term, provided a minimum balance of 300 billion VND is maintained. Customers depositing under regular conditions, using traditional methods and online, receive interest rates of 5.2% and 5.3% per annum, respectively.

HDBank traditional savings interest rate table. Screenshot

HDBank online savings interest rate table. Screenshot

VietABank is currently offering the highest interest rate of 5.2% per annum for a 13-month term when customers deposit online and receive interest at the end of the term. If customers only receive interest monthly, the rate is 5.07% per annum.

VietABank's traditional savings interest rate chart. (Screenshot)

NCB is currently offering the highest interest rate of 5.6% per year for 13-month term deposits at An Phu Savings, with interest paid at the end of the term. Customers with traditional savings accounts receive an interest rate of 5.45% per year.

NCB savings interest rate chart. Screenshot.

Deposit 1 billion VND, after 13 months receive how much interest?

You can refer to the interest calculation method to know how much interest you will receive after saving. To calculate interest, you can apply the formula:

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

For example, you deposit 1 billion VND into Bank A, term 13 months and enjoy interest rate 5.7%/year, the interest received is as follows:

1 billion VND x 5.7%/12 x 13 = 57 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.

Readers can refer to more information about interest rates HERE.

Source