Agribank adjusts deposit interest rates down
According to Lao Dong reporter on January 18, 2024, Agribank adjusted the mobilization interest rate down to the threshold of 1.8 - 5.3%/year. Specifically, the non-term interest rate listed by this bank is at the threshold of 0.2%/year; 1-2 months at the threshold of 1.8%/year; 3-4-5 months at the threshold of 2.1%/year; 6-7-8-9-10-11 months at the threshold of 3.2%/year; 12-13-15-18 months at the threshold of 5%/year.
The highest interest rate at Agribank is 5.3%/year when customers deposit savings for a 24-month term and receive interest at the end of the term. Specifically:
In addition, readers can refer to the interest rates of some other banks recorded by Lao Dong reporter on January 18:
How to receive interest if depositing 500 million VND at Agribank?
To quickly calculate bank interest, you can apply the interest calculation formula:
Interest = Deposit x interest rate/12 months x actual number of months of deposit.
For example, if you save 500 million VND at Agribank for a 1-month term, with an interest rate of 1.8%, the interest received is as follows: 500 million VND x 1.8%/12 x 1 month = 750,000 VND.
With the same amount of money and bank above, if you save for 12 months with an interest rate of 5%/year, the amount you can receive will be: 500 million VND x 5%/12 x 12 months = 25 million VND.
Meanwhile, if you deposit 500 million VND for a 24-month term at Agribank, the amount you will receive will be: 500 million VND x 5.3%/12 x 24 months = 53 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.
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