Surveying nearly 30 banks in the system, PVcomBank's interest rates are leading the 13-month term market when listing the highest savings interest rate at 9%/year for public savings products. However, savings deposits at counters are only applied to newly opened deposit balances from 2,000 billion VND or more.
In normal conditions, PVcomBank lists interest rates at 6%/year when customers deposit traditional money. Customers depositing money online receive an interest rate of 6.3%.
HDBank applies an interest rate of 8.1%/year for a 13-month term with the condition of maintaining a minimum balance of 300 billion VND. When customers deposit at the counter, in normal conditions, they only receive an interest rate of 5.9%/year. If depositing online, customers receive an interest rate of 6%/year.
In normal conditions, some banks with high interest rates for 13-month terms can be mentioned such as: Cake by VPBank, BacABank, Vikki Bank...
Cake by VPBank is listing a 13-month savings interest rate of 7.1% when customers deposit money online, receiving interest at the end of the term. This is also the highest bank interest rate currently listed, applied for terms from 6-24 months.
Vikki Bank is listing the highest interest rate for a 13-month term at 6.7%/year when customers deposit money online, receiving interest at the end of the term. For other terms, customers list interest rates at 0.5-6.7%/year.
BacABank is listing the highest interest rate for a 13-month term at 6.6%/year when customers deposit electronic savings, receiving interest at the end of the term. Currently, BacABank lists the highest interest rate this bank is applying at 6.7% for a term of 18-36 months.
Deposit 1 billion VND savings for 13 months, how much interest will you receive?
To calculate interest on bank savings deposits, you can apply the formula:
Interest = deposit amount x interest rate %/12 x number of months deposited
For example, if you deposit 1 billion VND into Bank A, for a 13-month term and enjoy an interest rate of 6.4%/year, the interest received is as follows:
1 billion VND x 6.4%/12 x 13 = 69.33 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 advice.
Readers can refer to more information about interest rates HERE.
