Latest Agribank interest rate fluctuations, deposit 500 million VND to receive unexpectedly high interest

Full set of Agribank interest rates at all terms

As noted by Labor, in July 2024, the interest rate on savings deposits at the Vietnam Bank for Agriculture and Rural Development (Agribank) fluctuated between 1.6-4.7%/year.

The interest rate schedule for savings deposits at Agribank is currently listed as follows:

The 1-month term deposit interest rate is 1.6%/year.

The 3-month term deposit interest rate is 1.9%/year.

The interest rate for 6-9 month term deposits is 3.0%/year.

The interest rate on deposits for terms greater than 12 months is 4.7%/year.

In the Big4 banking group including BIDV, Vietcombank, VietinBank, Agribank, VietinBank currently holds the most preferential interest rate compared to the remaining banks, followed by BIDV interest rate.

Accordingly, BIDV interest rates currently fluctuate in the range of 1.7-4.8%/year, Vietcombank's interest rates currently fluctuate in the range of 1.6-4.7%/year, Agribank's interest rates fluctuate in the range of 1.6-4.7%/year. 4.7%/year, VietinBank interest rate ranges from 2.0 - 5.0%/year.

Although Agribank and Vietcombank interest rates fluctuate in a similar range. However, Agribank's interest rate is 0.1 percentage point higher than Vietcombank's for 6-month, 9-month and 12-month terms.

Deposit 500 million at Agribank, how much interest will you receive at each term?

Readers can quickly calculate bank deposit interest through the following formula:

Thus, by depositing 500 million at Agribank, customers can receive the highest interest rate as follows (applies to individual customers):

1 month term: 666,667 VND.

3 month term: 2,375,000 VND.

6 month term: 7,500,000 VND.

9 month term: 11,250,000 VND.

12 month term: 23,500,000 VND.

36 month term: 70,500,000 VND.