According to a survey by Lao Dong Newspaper reporters at nearly 30 banks in the system, 6-month savings interest rates are fluctuating around 3.25 - 5.5%/year.
Leading the way is Caky by VPBank, which is listing a 6-month term interest rate at 5.5%/year when customers deposit money for a term and receive interest at the end of the term. In addition, this bank is listing the highest interest rate at 5.7%/year when customers deposit money for 12-36 months and receive interest at the end of the term.
CBBank lists the highest interest rate for a 6-month term at 5.1%/year when customers deposit money online and receive interest at the end of the term.
BacABank lists the 6-month interest rate at 4.9%/year when customers receive interest at the end of the term. Customers receiving interest monthly only receive an interest rate of 4.8%/year.
Following closely, NCB listed the highest interest rate for 6-month term at 4.85%/year when depositing in An Phu. Customers with traditional deposits received a lower interest rate of 4.7%/year.
HDBank is listing the highest 6-month term interest rate at 4.8%/year when customers deposit money online. In addition, the highest interest rate under normal conditions that HDBank is listing is 5.9%/year when customers deposit money online for an 18-month term.
How much interest do I receive if I deposit 1 billion VND for a 6-month term?
You can quickly calculate bank interest using the following formula:
Interest = Deposit x interest rate (%)/12 months x number of months of deposit
For example, you deposit 1 billion VND in Bank A, with an interest rate of 5.5% for a 6-month term. The interest you receive is estimated at:
1 billion VND x 5.5%/12 x 6 months = 27.5 million VND.
So, before saving, you should compare savings interest rates between banks and interest rates between terms to get the highest interest.
* 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 articles about interest rates HERE.
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