According to a survey by Lao Dong Newspaper reporters on October 1, Agribank's 12-month savings interest rate for individual customers is listed at 4.7%/year.
In addition, for 1-month and 2-month terms, Agribank listed interest rates at 2.1%/year. For 3 - 5 month terms, Agribank lists interest rates at 2.4%/year. The savings interest rate at Agribank for terms from 6 - 11 months is 3.5%/year. Customers depositing for 12 - 18 months receive the highest interest rate of 4.7%/year. For the 24-month term, Agribank listed the highest interest rate, at 4.8%/year.
Customers who deposit without a term and pay deposits will receive an interest rate of 0.2%/year.
Readers can quickly calculate bank deposit interest using the following formula:
Interest = Deposit x interest rate (%)/12 months x number of months deposited
For example, you deposit 100 million VND in Agribank, with an interest rate of 4.8% for a 36-month term. The interest you receive is estimated at:
Interest = 100 million VND x 4.7%/12 x 36 months = 14.4 million VND
You deposit 200 million VND in Agribank, with an interest rate of 4.8% for a 36-month term. The interest you receive is estimated at:
Interest = 200 million VND x 4.8%/12 x 36 months = 28.8 million VND
You deposit 300 million VND in Agribank, with an interest rate of 4.8% for a 36-month term. The interest you receive is estimated at:
Interest = 300 million VND x 4.8%/12 x 36 months = 43.2 million VND
You deposit 500 million VND in Agribank, with an interest rate of 4.8% for a 36-month term. The interest you receive is estimated at:
Interest = 500 million VND x 4.8%/12 x 36 months = 72 million VND
Before depositing savings, readers should compare savings interest rates between banks and interest rates between terms to enjoy the highest interest.
* 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 on interest rates HERE.
