Banks with high interest rates
According to a survey by Lao Dong reporters with several banks in the system, most banks are listing interest rates below 5.8%/year. In recent months, banks have simultaneously adjusted to rapidly reduce interest rates.
Readers can refer to the summary table of banks with high interest rates on the market. Data recorded by Lao Dong reporter on February 11, 2024:
Currently, PVcomBank and HDBank are the two banks listing the highest interest rates in the system. However, to enjoy this interest rate, customers need to meet some quite strict conditions. Specifically, PVcomBank applies an interest rate of up to 10%/year for a 12-13 month deposit term with a minimum deposit amount of VND 2,000 billion. The above interest rate applies to a fairly large deposit amount, VND 2,000 billion, with the condition of receiving interest at the end of the term...
HDBank also applies a fairly high interest rate, 8.2%/year for a 13-month term, with a much lower minimum balance requirement of 300 billion VND, along with the condition of receiving interest at the end of the term...
Deposit 50 million, how to receive interest?
To calculate interest you can apply the formula:
Interest = deposit x interest rate %/12 x number of months of deposit
For example, with 50 million VND, if you save for 12 months at bank A with an interest rate of 5.2%/year, you can receive: 50 million VND x 5.2/12 x 12 = 2.6 million VND.
With the same amount of money, if you deposit it in bank B, for a 12-month term with an interest rate of 4.9%, the interest you receive will be: 50 million VND x 4.9%/12 x 12 = 2.45 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.
Is it illegal to collect lucky money from children?
Lawyer Nguyen Trong Nghia - X Lawyer System (Hanoi City) said - Depending on a certain age, children have the right to participate in civil transactions. Regarding private property, the law stipulates that children have the full right to own private property and are protected by law in their ownership of private property.
Many people do not know that collecting lucky money from children or illegally using their children's lucky money is a violation of the law and can result in administrative penalties.
Article 58 of Decree 144/2021/ND-CP stipulates acts of economic violence as "anyone who appropriates the private property of a family member will be fined from 20 to 30 million VND".
Therefore, in order to have a basis to punish parents who keep their children's lucky money, the authorities need to consider whether this is an act of "appropriating their children's private property" or not. If parents keep their children's lucky money so that they can save it, not spend it for the wrong purpose, and use it for their children's expenses in other activities, they will not be punished.
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