Leading the list interest rate of time deposits with a term of 12 months, PVcomBank has listed an interest rate of up to 9.5%/year. However, customers need to meet the condition of depositing a minimum of 2,000 billion VND at the counter and only apply to the product with interest paid at the end of the term. In addition, HDBank has listed the highest interest rate for 12-month time deposits at 7.7%/year with the condition of maintaining a minimum balance of 300 billion VND.
In the general case, the top 3 banks with the highest interest rates for 12-month time deposits are Cake by VPBank, ABBank, and BacABank.
ABBank is currently listing the highest interest rate for 12-month time deposits at 6%/year when customers receive interest at the end of the term. Customers who receive interest monthly and quarterly receive interest rates of 5.66%, 5.84%, and 5.87%/year, respectively.
Cake by VPBank is currently listing the highest interest rate for 12-month time deposits at 6%/year when customers receive interest at the end of the term. Customers who receive interest monthly and quarterly receive interest rates of 5.65% and 5.68%, respectively. The highest interest rate listed by Cake by VPBank is 6% when customers deposit for 12-36 months.
BacABank is currently listing the highest interest rate for 12-month time deposits at 5.95%/year when customers receive interest at the end of the term. Customers who receive interest monthly and quarterly receive interest rates of 5.8% and 5.85%, respectively. The highest interest rate listed by BacABank is 6.05% when customers deposit for 18-24 months.
How much interest will you receive if you deposit 1 billion VND for 12 months?
You can refer to the interest calculation method to know the amount of interest received after depositing. To calculate interest, you can apply the formula:
Interest = principal x interest rate %/12 x number of months.
For example, if you deposit 1 billion VND into Bank A, with a term of 12 months and an interest rate of 6%/year, the interest received is as follows:
1 billion VND x 6%/12 x 12 = 60 million VND.
* The information on interest rates is for reference only and may change over time. Please contact the nearest bank branch or hotline for specific advice.
You can refer to additional information on interest rates HERE.
