Name 3 banks with high interest rates when saving for 12 months

Leading the 12-month savings interest rate list, PVcomBank lists interest rates of up to 9.5%/year. However, to enjoy this high interest rate, customers need to meet the minimum deposit requirement of VND 2,000 billion at the counter and only applies to products that receive interest at the end of the term.

HDBank listed the highest 12-month savings interest rate at 7.7%/year with the condition of maintaining a minimum balance of VND300 billion. Under normal conditions, when making a 12-month online savings deposit, customers receive an interest rate of 5.5%/year. If customers deposit money at the counter, they only receive an interest rate of 5.4%/year.

Under normal conditions, the 3 banks with the highest 12-month savings interest rates include Cake by VPBank, ABBank, and BacABank.

Cake by VPBank is listing the highest interest rate for a 12-month term at 6%/year when customers receive interest at the end of the term. Customers receiving monthly and quarterly interest receive interest rates of 5.65% and 5.68%, respectively. The highest interest rate listed by Cake by VPBank is 6.1% when customers deposit for 24-36 months.

Cake by VPBank savings interest rate table. Screenshot

ABBank is listing the highest interest rate for a 12-month term at 6%/year when customers receive interest at the end of the term. Customers receiving interest in advance, monthly and quarterly will receive interest rates of 5.66%, 5.84% and 5.87%/year, respectively.

ABBank savings interest rate table. Screenshot

BacABank is listing the highest 12-month interest rate at 5.8% when customers receive interest at the end of the term. Customers receiving interest quarterly and monthly only receive interest rates of 5.7% and 5.65%.

BacABank savings interest rates. Screenshot

How much interest do you receive if you save 500 million VND for 12 months?

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 500 million VND in Bank A, term 12 months and enjoy interest rate 6%/year, the interest received is as follows:

500 million VND x 6%/12 x 12 = 30 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: https://laodong.vn/tien-te-dau-tu/diem-ten-3-ngan-hang-lai-suat-cao-khi-gui-tiet-kiem-12-thang-1385662.ldo