Top banks with high interest rates when depositing 12-month savings under normal conditions include: 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 on the CAKE BANK application, they will receive an additional interest rate of 1-1.5%/year. When customers deposit 5 million VND for a 12-month term, they receive an additional interest rate of 1%, the total interest rate received is 8.4%/year.
Customers depositing from 50 million VND and 200 million VND receive interest rates of 1.3% and 1.5% respectively. Accordingly, the total interest rate received is up to 8.7 - 8.9%/year.
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% 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% when individual customers deposit online over 1 billion VND, receiving interest at the end of the term. 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:
Interest = deposit amount x interest rate %/12 x number of months deposited
For example, if people deposit 200 million VND into Bank A, with a term of 12 months and enjoy an interest rate of 7.4%/year, the interest received is as follows:
200 million VND x 7.4%/12 x 12 = 14.8 million VND.
For example, if people deposit 600 million VND into Bank A, with a term of 12 months and enjoy an interest rate of 7.4%/year, the interest received is as follows:
600 million VND x 7.4%/12 x 12 = 44.4 million VND.
* Interest rate information is for reference only and may change in each period. Please contact the nearest bank transaction point or hotline for specific advice.
Readers can refer to more information about interest rates HERE.
