According to a survey by PV Lao Dong Newspaper, PVcomBank's highest listed savings interest rate is 9.5% per year for terms of 12 and 13 months. However, to enjoy this extremely high interest rate, customers need to deposit a minimum of 2,000 billion VND at the counter, and it only applies to products with interest paid at the end of the term.
Additionally, under normal conditions, when customers deposit money online for 1-5 months, PVcomBank lists an interest rate of approximately 2.85% per year.
For terms of 6-11 months, PVcomBank lists savings interest rates starting from 4.3%/year. Customers depositing for 12 months receive an interest rate of 4.8%/year. Customers depositing for 18-36 months receive the highest interest rate at 5.1%/year.
Customers depositing money for short-term periods of 1-3 weeks only receive an interest rate of 0.5% per year.
Readers can quickly calculate bank deposit interest using the following formula:
Interest = Deposit amount x interest rate (%)/12 months x number of months deposited
For example, if you deposit 1 billion VND into PVcomBank, with an interest rate of 4.8% for a 12-month term, the interest you will receive is estimated to be:
1 billion VND x 4.8%/12 x 12 months = 48 million VND.
Before depositing savings, readers should compare savings interest rates between different banks and between different terms to earn the highest possible interest.
* Interest rate information is for reference only and may change from time to time. Please contact your nearest bank branch or hotline for advice.
Readers can find more articles about interest rates HERE.
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