6-month savings interest rate hits 8.7%

According to a survey by Lao Dong Newspaper with nearly 30 banks, Cake by VPBank is listing 6-month term interest rates at a normal rate of 7.2%/year when customers receive interest at the end of the term. When customers receive interest at the beginning of the term, monthly and quarterly, they will receive interest rates of 6.78%, 7.02% and 7.09%/year respectively.

Cake by VPBank is offering an additional 1.5% interest rate for customers depositing money for the first time from 200 million VND. Plus this preferential interest rate, customers depositing money for a 6-month term can receive an interest rate of up to 8.7%.

BAC A BANK lists the highest interest rate for a 6-month term at 7.05%/year when customers deposit online over 1 billion VND, receiving interest at the end of the term. BAC A BANK lists the highest interest rate at 7.1% when customers deposit over 1 billion VND for a 12-month term, receiving interest at the end of the term.

VCBNeo is listing the highest interest rate for a 6-month term at 7%/year when customers deposit money online.

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. Currently, PGBank is listing the highest interest rate at 7%/year for terms of 12 and 13 months.

How to receive interest when depositing for 6 months?

Formula for calculating 6-month savings deposit interest at bank:

Deposit 500 million VND into Bank A, with an interest rate of 8.7% for a 6-month term. The interest you receive is estimated to be:

500 million VND x 8.7%/12 x 6 months = 21.75 million VND.

Before depositing savings, readers should compare savings interest rates between banks, interest rates between terms to enjoy the highest interest.