2 banks appear with interest rates of more than 7% for 12-month deposits

PVcomBank's interest rate is currently the highest in the market, up to 9.5% for a 12-month term with a minimum deposit of VND2,000 billion. Under normal conditions, PVcomBank lists the highest 12-month interest rate at 5.1% when customers deposit money online and 4.8% when depositing money at the counter.

Next is HDBank with a fairly high interest rate, 7.7% for a 12-month term, with a minimum balance of VND500 billion. Under normal conditions, HDBank lists the highest 12-month interest rate at 5.5% when customers deposit money online and 5.4% when depositing money at the counter.

Cake by VPBank is listing the highest interest rate for a 12-month term at 6%/year when customers receive interest at the end of the term. Customers receiving interest monthly and quarterly receive interest rates of 5.65% and 5.68%, respectively. The highest interest rate listed by Cake by VPBank is 6.1% when customers deposit for 24 - 36 months.

BacABank is listing the highest interest rate for a 12-month term at 5.9%/year when customers receive interest at the end of the term. Customers receiving interest in advance, monthly and quarterly will receive interest rates of 5.75% and 5.8%/year, respectively.

BacABank is listing the highest interest rate for a 12-month term at 5.8%/year when customers deposit savings at An Phu, receiving interest at the end of the term. Customers depositing traditional savings receive the highest interest rate at 5.7%/year.

How much interest do you receive if you save 1 billion VND for 12 months?

You can refer to the interest calculation method to know how much interest you will receive after saving. To calculate interest, you can apply the formula:

For example, you deposit 1 billion VND in Bank A, for a term of 12 months and enjoy an interest rate of 6%/year, the interest received is as follows:

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