Bank group with the highest interest rates in the system
According to Lao Dong reporter on January 14, PVcomBank is the bank with the highest savings interest rate in the market, up to 10%.
The interest rate of 10% is applied by PVcomBank with some requirements such as minimum deposit amount of 2,000 billion VND, deposit at the counter, deposit term of 12-13 months, receive interest at the end of the term...
Following PVcombank, HDBank applies 8.4%/year for 13-month term and 8%/year for 12-month term with the condition of maintaining a minimum balance of 300 billion VND...
Although banks list high interest rates, customers must meet quite strict conditions to enjoy the above interest rates. For smaller amounts, the basic interest rate currently listed by banks is around 5-6.3%/year.
Below are the interest rates recorded by some banks on January 14, 2024, readers can refer to:
How much interest do you get if you deposit 500 million for 12 months?
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 deposit 500 million VND at bank A for a 12-month term, with an interest rate of 5.0%, the interest received is as follows: 500 million VND x 5.0%/12 x 12 months = 25 million VND.
With the same amount and term above, if you save at bank B with an interest rate of 5.35%/year, the amount you can receive will be: 500 million VND x 5.35%/12 x 12 months = 26.75 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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