A bank appears with an interest rate of 7.7% for 12-month savings deposits

PVcomBank's interest rate is currently the highest in the market, up to 9% for a 12-month term with a minimum deposit of VND 2,000 billion, however, customers must meet special conditions.

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.

Following that, HDBank with an interest rate of 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 5.6% when customers deposit money online and 5.5% when depositing money at the counter.

The top banks with the highest interest rates for 12-month terms under normal conditions include 3 banks: KienlongBank, GPBank, Cake by VPBank.

Kienlongbank is listing the highest interest rate for 12-month deposits at 6.1% when individual customers deposit money online. Currently, the highest interest rate listed by this bank is 6.4%/year when customers deposit money for 60 months.

GPBank is listing the highest 12-month interest rate at 6.05%/year for customers making electronic savings deposits. Currently, the highest interest rate listed by this bank is 6.15% for a term of 13 - 36 months.

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. For other terms Cake by VPBank lists interest rates from 4.28 - 6.3%/year.

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

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

For example, you deposit 1 billion VND in Bank A, term of 12 months and enjoy interest rate of 6.1%/year, the interest received is as follows:

1 billion VND x 6.1%/12 x 12 = 61 million VND.