A survey of savings interest rates of banks shows that the 12-month term continues to record a special interest rate of up to 10%/year.
According to PVcomBank's deposit interest rate schedule for individual customers, the 12-month term Public Deposit product, with interest paid at the end of the term, is currently listed at 10%/year. However, this interest rate is only applied at the counter for newly opened deposit balances from 2,000 billion VND or more.
With an interest rate of 10%/year, if depositing 2,000 billion VND in 12 months and receiving interest at the end of the term, the expected interest amount could be up to about 200 billion VND.
In addition to PVcomBank, some other banks are also publicly announcing special interest rates with very large deposit amount conditions.
At MSB, the highest interest rate for the 12-13 month term is 9%/year, applicable to newly opened savings books or savings books opened from January 1, 2018, automatically renewed, with deposits from 500 billion VND.
HDBank also applies a special interest rate of 7.2%/year for a 12-month term and 7.6%/year for a 13-month term, with the condition that the minimum savings amount is from 500 billion VND or more/savings card.
For the 13-month term, Vikki Bank listed a rate of 7.9%/year for savings from 999 billion VND or more. Meanwhile, Nam A Bank recorded a rate of 8.3%/year for the 24-month term and 8.1%/year for the 36-month term for deposits from 500 billion VND or more, after being approved according to regulations.
For ordinary customers, the 12-month term interest rate at many popular banks is significantly lower than the special interest rate group. Therefore, depositors need to carefully read the applicable conditions, minimum amount, form of deposit at the counter or online, and method of receiving interest before deciding to deposit savings.
