How much interest do you receive each month if you save 1 billion VND?

(NLDO) – The recent increase in deposit interest rates has helped today's long-term interest rates at many commercial banks exceed the 6%/year mark.

On November 22, according to a reporter from Nguoi Lao Dong Newspaper, many banks are applying long-term savings interest rates from 6%/year. In the context of the volatile stock market and strong fluctuations in gold prices, savings are becoming a channel to attract idle cash flow.

Specifically, ABBANK applies a deposit interest rate of 6.2%/year for an 18-month term, and this interest rate increases to 6.3%/year for a 24-month term.

BacABank announced the savings interest rate for 18-24 month term is 6.15%/year.

At BVBank, customers who deposit savings for a term of 18 months or more will enjoy an interest rate of 6%/year.

HDBank, Saigonbank and several other banks are also mobilizing capital from the population with interest rates from 6%/year for long-term deposits of 18 months or more.

Long-term savings interest rates at many banks currently exceed 6%/year.

Digital bank Cake by VPBank is also on the list of banks paying high savings interest rates, listing an interest rate of 6.1%/year for term deposits from 24 to 36 months.

For example, if a customer deposits 1 billion VND with a term of 18 months and an interest rate of 6%/year, the final interest will reach 1.09 billion VND (average monthly interest is about 5 million VND).

For terms of 12 months or more, the group of state-owned commercial banks is maintaining relatively low mobilization interest rates. Vietcombank and BIDV apply an interest rate of 4.7%/year, while Agribank and VietinBank mobilize interest rates of 4.8%/year for terms of 24 months or more.

According to MBS Securities Company, if the interest rate increase trend temporarily slowed down in October, by the first half of November, interest rates had increased when up to 9 banks adjusted input interest rates, with an increase of 0.1 to 0.7 percentage points.

Experts at Vietnam Construction Securities Company (CSI) commented that from mid-2024 until now, input interest rates have tended to increase again and are at the highest level since the beginning of the year.

Specifically, the 12-month deposit interest rate of major banks fluctuates between 4.9% - 5.2%/year. However, this interest rate is still at the lowest level in history for many years.

Source: https://nld.com.vn/lai-suat-hom-nay-22-11-gui-tiet-kiem-1-ti-dong-moi-thang-nhan-bao-nhieu-tien-lai-196241122110327304.htm