According to a survey conducted by Lao Dong newspaper on October 29, 2023, with nearly 30 banks in the system, most banks are listing interest rates for 24-month terms below 7% per year. Below are 3 banks listing the highest interest rate for 24-month terms at 6.5% per year.
1. PVcomBank (Vietnam Public Commercial Bank)
Leading the pack is PVcomBank, which is offering the highest interest rate for 24-month term savings at 6.5% per year when customers deposit online and receive interest at the end of the term. Customers receive an interest rate of 6.12% per year.
Under normal conditions, PVcomBank is currently offering the highest interest rate of 6.5% per year for savings deposits with terms of 18, 24, and 36 months.
2. SacomBank (Saigon Thuong Tin Commercial Joint Stock Bank)
Similarly, SacomBank is also offering the highest interest rate for a 24-month term at 6.5%/year when customers deposit savings online and receive interest at the end of the term. Customers who receive interest quarterly receive a lower rate, at 6.16%/year.
Currently, Sacombank offers the highest interest rate of 6.5% per year for online savings deposits with terms of 24 and 36 months.
3. OceanBank (Ocean Commercial Bank Limited)
OceanBank is currently offering the highest interest rate of 6.5% per annum for a 24-month term when customers deposit online and receive interest at the end of the term. Customers who deposit at the counter and receive interest at the end of the term receive a lower interest rate of 6.4% per annum.
OceanBank is currently offering the highest interest rate of 6.5% per year for online savings deposits with terms of 18, 24, and 36 months.
Below is a comparison table of 24-month term savings interest rates compiled by PV Lao Dong Newspaper on October 29, 2023, across nearly 30 banks for your reference:
If you deposit 1 billion VND in a 24-month term savings account, you will receive 130 million VND in interest.
You can refer to the interest calculation method to find out how much interest you will receive after depositing your savings. The formula for calculating interest is as follows:
Interest = Deposit amount x Deposit interest rate %/12 x Number of months deposited
For example, if you deposit 1 billion VND into Bank A for a 24-month term and earn an interest rate of 6.5% per year, the interest you receive will be as follows:
1 billion VND x 6.5%/12 months x 24 months = 130 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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