According to a report by Lao Dong newspaper on October 15, 2023, interest rates for 10-month term savings deposits are fluctuating between 4.3% and 5.9% per year. Among them, banks offering high interest rates include OceanBank, CBBank, NCB, PVcomBank, etc.
OceanBank is currently offering the highest interest rate of 5.9% per annum for a 10-month term when customers deposit online and receive interest at the end of the term. Customers depositing at the counter only receive an interest rate of 6.8% per annum. Currently, OceanBank is offering the highest interest rate of 6% per annum for savings deposits of 12-36 months.
CB is currently offering the highest interest rate of 5.8% per year for a 10-month term when customers deposit online. CB is offering the highest interest rate of 6.1% per year for deposits of 13 months or more.
Additionally, for other terms, CB offers interest rates ranging from 4.2-6.1% per year when customers deposit savings online.
NCB lists the interest rate for a 10-month term at 5.65%/year when customers deposit savings at An Phu branch. Currently, NCB's interest rate schedule at the beginning of October ranges from 4.45 - 6%/year, with the highest interest rates for terms of 15 months or more.
If you deposit 1 billion VND for 10 months, what is the maximum amount you can receive?
Depending on the bank and its interest rates, customers will receive a corresponding amount of interest. To quickly calculate the interest earned on a savings deposit, readers can apply the following formula:
Interest = Deposit amount x savings interest rate (%)/12 months x actual number of months deposited.
For example, for a 10-month term, if a customer deposits 1 billion VND at Bank A with an interest rate of 5.9% per year, the interest will be calculated as follows:
Interest = 1 billion VND x 5.9%/12 months x 10 months = 49.16 million VND.
* Interest rate information is for reference only and may change from time to time. Please contact your nearest bank branch or hotline for specific advice.
Readers can find more information about interest rates HERE.
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