12-month savings interest rate hits 9.2%

Top banks with high interest rates when depositing for 12 months under normal conditions can be mentioned such as: Cake by VPBank, PGBank, VCB Neo, BacABank,...

Cake by VPBank is listing the highest interest rate for a 12-month term at 7.4%/year when customers receive interest at the end of the term. Customers receiving interest at the beginning of the term, monthly, receive interest rates of: 6.59%; 7.02%; 7.08% respectively.

When customers deposit money for the first time on the CAKE BANK application, an additional interest rate of 1.8%/year will be added. Adding the bonus interest rate, the total interest rate received for a 12-month term is 9.2%/year. Previously, Cake by VPBank only added an interest rate of 1.5% for customers depositing money for the first time at CAKE BANK (added 0.3%).

PGBank is listing the highest interest rate for a 12-month term at 7%/year when customers deposit money online and receive interest at the end of the term.

VCBNeo is listing the highest interest rate for a 12-month term at 7%/year when individual customers deposit money online and receive interest at the end of the term. This is also the highest interest rate VCBNeo lists for a term of 6-12 months.

BAC A BANK is listing the highest interest rate for a 12-month term at 7.1%. This is also the highest interest rate BAC A BANK is listing.

How much interest do you receive when depositing for 12 months?

You can refer to how to calculate interest to know how much interest you receive after depositing savings. To calculate interest, you can apply the formula:

For example, if people deposit 300 million VND into Bank A, with a term of 12 months and enjoy an interest rate of 9.2%/year, the interest received is as follows:

300 million VND x 9.2%/12 x 12 = 27.6 million VND.

For example, if people deposit 500 million VND into Bank A, with a term of 12 months and enjoy an interest rate of 9.2%/year, the interest received is as follows:

500 million VND x 9.2%/12 x 12 = 46 million VND.