Top 3 banks with the highest 12-month savings interest rates on the market

The top 3 banks with savings interest rates from 5.95% for 12-month terms under normal conditions include: Cake by VPBank, GPBank, Vikki Bank...

Cake by VPBank is listing the highest interest rate for 12-month terms at 6%/year when customers receive interest at the end of the term. Customers receiving interest at the beginning of the term, monthly and quarterly will receive interest rates of 5.55%, 5.79%, 5.83%, respectively.

For other terms Cake by VPBank lists interest rates from 4.28 - 6%/year.

GPBank is listing the highest 12-month interest rate at 5.95%/year for customers making electronic savings deposits. Currently, the highest interest rate listed by this bank is 5.95% for a term of 13 - 36 months.

Vikki Bank is listing the highest 12-month interest rate at 5.95% when customers deposit money online and receive interest at the end of the term. For other terms, Vikki Bank is listing interest rates from 0.5-6%/year.

How much interest do you receive if you deposit for 12 months?

Formula for calculating interest when depositing in bank savings:

For example, you deposit 500 million VND in Bank A, term 12 months and enjoy interest rate 6%/year, the interest received is as follows:

500 million VND x 6%/12 x 12 = 30 million VND.

For example, you deposit 1 billion VND in Bank A, term of 12 months and enjoy interest rate of 6.05%/year, the interest received is as follows:

1 billion VND x 6%/12 x 12 = 60 million VND.