Save for 12 months and receive a sky-high interest rate of 11%

According to a survey by Lao Dong Newspaper reporters, among nearly 30 banks in the system, the banks listing the highest 12-month savings interest rates are PVcomBank (11%/year), HDBank (8.2%/year), SacomBank (6%/year), NCB (5.9%/year)...

Leading the 12-month savings interest rate table, PVcomBank lists interest rates of up to 11%/year for a 12-month term. However, to enjoy this extremely high interest rate, customers need to meet the minimum deposit requirement of VND 2,000 billion at the counter and only applies to products that receive interest at the end of the term.

Customers who make online savings deposits for a 12-month term at PVcomBank receive an interest rate of 6.2%/year when receiving interest at the end of the term.

PVcomBank traditional savings interest rate table. Screenshot

PVcomBank online savings interest rate table. Screenshot

HDBank ranked second, applying an interest rate of 8.6%/year for a 13-month term with the condition of maintaining a minimum balance of VND300 billion. Under normal conditions, when making an online savings deposit for a 12-month term, customers receive an interest rate of 6.1%/year.

Savings interest rate table at HDBank counter. Screenshot

HDBank online savings interest rate table. Screenshot

Sacombank is listing the 12-month savings interest rate at 6%/year when customers deposit and receive interest at the end of the term. Customers receiving interest monthly receive an interest rate of 5.84%/year.

SacomBank online savings interest rate table. Screenshot

NCB is listing the highest interest rate for a 12-month term at 5.9%/year when customers deposit savings at An Phu, receiving interest at the end of the term. Customers depositing traditional savings receive an interest rate of 5.75%/year.

Currently, NCB is listing the highest interest rate at 6.1%/year when customers deposit savings at An Phu for 15 - 60 months.

NCB savings interest rate table. Screenshot

Save 1 billion VND, after 12 months how much interest will you receive?

You can refer to the interest calculation method to know how much interest you will receive after saving. To calculate interest, you can apply the formula:

Interest = deposit x interest rate %/12 x number of months of deposit.

For example, you deposit 1 billion VND in Bank A, for a term of 13 months and enjoy an interest rate of 6.2%/year, the interest received is as follows:

1 billion VND x 6.2% / 12 x 12 = 62 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.

Readers can refer to more information about interest rates HERE.

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