Compare 7-month interest rates at banks
Recorded by Lao Dong reporter at 11:00 p.m. on December 5, 2023, the 7-month term interest rate table fluctuated from 4.3 - 5.6%. In which, SCB's 7-month term interest rate was 4.95%. Meanwhile, Agribank listed this term interest rate at 4.3%. At MB, the 7-month term interest rate was at 4.8%.
Meanwhile, banks listed high interest rates for 7-month terms include: PVcomBank (5.6%), NCB (5.35%), HDBank (5.2%), OceanBank (5.4%), MSB (5.0%). Banks with low interest rates below 5% include: Vietinbank (4.3%), BIDV (4.3%), ABBank (4.3%), NamABank (4.9%)...
With 500 million, how much interest can I earn from saving?
Depending on the interest rate schedule of each bank, depositors can calculate the interest received according to the formula: Interest = Deposit x interest rate (%)/12 months x number of months of savings.
For example, you have 500 million, deposit for 7 months at SCB, with an interest rate of 4.95%, the interest you receive is:
Interest = 500 million VND x 4.95%/12 x 7 months = 14.4 million VND.
With the same amount of money, you deposit it at Agribank with an interest rate of 4.3%, after 7 months, the interest you receive is:
Interest = 500 million VND x 4.3%/12 x 7 months = 12.5 million VND.
Or with the same 500 million VND, you deposit at MB with an interest rate of 4.8%, after 7 months, the interest you receive is:
Interest = 500 million VND x 4.8%/12 x 7 months = 14 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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