Save for 13 months and receive interest rates of more than 10%

13-month savings interest rates in the banking system fluctuate around 4.4 - 10.5%. Illustrative photo: Tra My

According to a survey by Lao Dong Newspaper with nearly 30 banks in the system, PVcomBank's interest rate is leading the 13-month term market.

Specifically, PVcomBank is listing the highest savings interest rate for a 13-month term at 10.5%/year, for mass savings products, applied to savings deposits at the counter for newly opened deposit balances of VND2,000 billion or more. Under normal conditions, PVcomBank is listing the highest interest rate for a 13-month term at 5.6%/year when customers deposit savings at the counter.

PVcomBank traditional savings interest rate. Screenshot

In second place, HDBank applies an interest rate of 8.6%/year for a 13-month term with the condition of maintaining a minimum balance of VND300 billion. When customers deposit online, under normal conditions, they only receive an interest rate of 6.1%/year. If they deposit at the counter, they only receive an interest rate of 5.9%/year.

HDBank traditional savings interest rate table. Screenshot

HDBank online savings interest rate table. Screenshot

OceanBank is listing the highest interest rate for a 13-month term at 6%/year when customers deposit savings online and receive interest at the end of the term. Customers depositing money at the counter only receive an interest rate of 5.9%/year.

Currently, OceanBank lists the highest interest rate at 6%/year when customers deposit savings online for 12-36 months.

OceanBank savings interest rate table. Screenshot

CBBank is listing the 13-month savings interest rate at 5.5% per year when customers deposit savings online. In addition, CBBank is also applying this interest rate to customers who deposit savings for 13 months or more.

CBBank online savings interest rate table. Screenshot.

Save 1 billion VND, after 13 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, term 13 months and enjoy interest rate 6%/year, the interest received is as follows:

1 billion VND x 6%/12 x 13 = 65 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.

Source: https://laodong.vn/tien-te-dau-tu/gui-tiet-kiem-13-thang-nhan-lai-suat-khung-hon-10-1268948.ldo