Highest savings interest rate, how much interest will you receive if you deposit 200 million VND?
According to a survey by Lao Dong with nearly 30 banks, Cake by VPBank is listing 6-month term savings interest rates at the highest level of up to 9%/year.
The normal interest rate for a 6-month term at Cake by VPBank is 7.2%/year when customers receive interest at the end of the term. When receiving interest at the beginning of the term, monthly and quarterly, customers are applied interest rates of 6.78%/year, 7.02%/year and 7.09%/year respectively.
In addition, Cake by VPBank is applying an additional 1.8%/year program for customers depositing money for the first time at CAKE BANK from 100,000 VND. When adding this incentive, the 6-month term interest rate can be up to 9%/year.
For a deposit of 200 million VND, term of 6 months, receiving interest at the end of the term and meeting preferential conditions, interest is calculated as follows:
Interest = 200 million VND x 9%/year x 6 months/12 months
According to the above formula, after 6 months, depositors can receive about 9 million VND in interest. The total amount of principal and interest at the end of the period is 209 million VND.
In case not eligible for incentives plus 1.8%/year, customers are applied a normal interest rate of 7.2%/year. At that time, with 200 million VND deposited in 6 months, the interest received is about 7.2 million VND.
If choosing to receive interest at the beginning of the period, monthly or quarterly, the interest converted at interest rates of 6.78%/year, 7.02%/year and 7.09%/year is about 6.78 million VND, 7.02 million VND and 7.09 million VND respectively.
Some banks list savings interest rates around 7%/year
In addition to Cake by VPBank, some banks are listing 6-month term interest rates around 7%/year.
BAC A BANK lists the highest interest rate for a 6-month term at 7.05%/year. With a deposit of 200 million VND for 6 months, depositors can receive about 7.05 million VND in interest if they meet the applicable conditions.
VCBNeo is listing the highest interest rate for a 6-month term at 7%/year when customers deposit money online. With 200 million VND, the interest received after 6 months is about 7 million VND.
PGBank lists the highest interest rate for a 6-month term at 6.9%/year when customers receive interest at the end of the term. If depositing 200 million VND, customers can receive about 6.9 million VND in interest after 6 months.
Details of the highest savings interest rates at banks:
Thus, depositing 200 million VND for a 6-month term, interest can range from about 6.9 million VND to 9 million VND, depending on the bank, deposit method, interest receipt method and preferential conditions.
Before depositing savings, customers should carefully check the conditions for applying interest rates, the time of implementing the preferential program, the form of deposit and the actual interest calculation method at each bank.
