Highest interest rate for 11-month term
A survey by Lao Dong Newspaper (September 19, 2023) with 20 banks in the system shows that 11-month savings interest rates are being listed by banks around 4.5-6.65%/year.
NCB is the bank with the highest interest rate for this term. If you save at An Phu, you will receive an interest rate of 6.65%/year. If you save at traditional savings, the interest rate will be 6.5%/year.
Following SCB, the 11-month interest rate was listed at 6.35%/year; DongAbank listed it at 6.3%/year.
In addition, readers can refer to interest rates of other banks below:
Deposit 600 million VND, after 11 months receive more than 36.5 million VND
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 600 million VND at bank A for a 10-month term, with an interest rate of 6.65%, the interest received is as follows: 600 million VND x 6.65%/12 x 11 months = 36.575 million VND.
With the same amount and term above, if you save at bank B with an interest rate of 4.5%/year, the amount you can receive will be: 600 million VND x 4.5%/12 x 11 months ≈ 24.75 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.
Source
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