Deposit 200 million VND for 12-month term at MBBank, how much interest will I receive?

MB applies a savings interest rate range for individual customers in the range of 0.1 - 6.4%/year. Illustration photo: Tra My

According to a survey by Lao Dong Newspaper reporters on December 2, MBBank's 12-month savings interest rate for individual customers is listed at 5.1%/year.

In addition, for terms from 1 to 5 months, MBBank lists interest rates from 3.2 to 3.6% per year. For terms from 6 to 11 months, MBBank lists savings interest rates from 4.7 to 4.9% per year. Customers depositing for 12 to 18 months receive interest rates from 5.1 to 5.6% per year.

Customers who deposit for 24 - 60 months receive the highest interest rate of 6.4%/year. Customers who deposit without term only receive interest rate of 0.1%/year.

MBBank savings interest rate table on December 1, 2023. Screenshot

Readers can quickly calculate bank interest using the following formula:

Interest = Deposit x interest rate (%)/12 months x number of months of deposit

For example, you deposit 200 million VND into MBBank, with an interest rate of 5.1% for a 12-month term. The interest you receive is estimated at:

Interest = 200 million VND x 5.1%/12 x 12 months = 10.2 million VND

Before making a deposit, readers should compare savings interest rates between banks and interest rates between terms to get the highest interest.

* 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 articles about interest rates HERE.

Source: https://laodong.vn/tien-te-dau-tu/gui-200-trieu-dong-ky-han-12-thang-tai-mbbank-nhan-lai-suat-bao-nhieu-1274689.ldo