According to the update on September 16, the current online deposit/savings interest rates of VietinBank are as follows:
For terms under 1 month: 0.2%.
Term 1-2 months: 2.0%/year
Term 3-5 months: 2.3%/year
Term 6-11 months: 3.3%/year
Term 12-18 months: 4.7%/year
Term 24-36 months: 5.0%/year
How to calculate deposit interest rate at VietinBank
For term deposits
With term deposits, there are 2 ways to calculate by day and by month:
Daily interest calculation formula:
Interest = Deposit amount x interest rate (% per year) x number of deposit days/365
Monthly interest calculation formula:
Interest = Deposit amount x interest rate (% per year)/12 x number of months of deposit
If you deposit 100 million with a 12-month term at the counter, the savings interest rate for this term is 4.7%/year.
After 12 months, the interest received is: 100 million x 4.7%/12 x 12 months = 4,700,000 VND
If you deposit 100 million for 14 days with a savings interest rate of 0.2%/year, the total interest received upon settlement is: 100 million x 0.2% x 14 days/365 = 7,671 VND.
How to calculate interest rate on non-term deposits
Interest = Deposit amount x interest rate (%/year) x number of deposit days/365
If you deposit 100 million, the non-term savings interest rate is 0.1%/year.
After 30 days, if you need to withdraw money, the interest received will be: 100 million x 0.1% x 30 days/365 = 8,219 VND.
Or after 6 months, if you withdraw, the interest received is: 100 million x 0.1% x 180 days/365 = 49,315 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 articles about interest rates HERE.
