2 banks have interest rates over 7.6% for 12-month savings

12-month savings interest rates in the banking system fluctuate around 4.4 - 9.5%. Illustration photo: Tra My

Leading the 12-month savings interest rate table, PVcomBank lists interest rates of up to 9.5%/year. However, to enjoy this high interest rate, customers need to meet the minimum deposit requirement of VND 2,000 billion at the counter and only applies to products that receive interest at the end of the term.

Under normal conditions, PVcomBank is listing the highest 12-month interest rate at 5.1%/year when customers deposit savings online and receive interest at the end of the term. If customers deposit money at the counter, they will only receive an interest rate of 4.8%/year.

PVcomBank traditional savings interest rate table. Screenshot

PVcomBank online savings interest rate table. Screenshot

HDBank listed the highest 12-month savings interest rate at 7.7%/year with the condition of maintaining a minimum balance of 300 billion VND. Under normal conditions, when making a 12-month online savings deposit, customers receive an interest rate of 5.5%/year. If customers deposit money at the counter, they only receive an interest rate of 5.4%/year.

HDBank traditional savings interest rate table. Screenshot

HDBank online savings interest rate table. Screenshot

ABBank 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 in advance, monthly and quarterly receive interest rates of 5.66%, 5.84% and 5.87%/year respectively.

ABBank savings interest rate table. Screenshot

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 monthly and quarterly interest receive interest rates of 5.65% and 5.68%, respectively. The highest interest rate listed by Cake by VPBank is 6% when customers deposit for 12-36 months.

Cake by VPBank savings interest rate table. Screenshot

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:

Interest = deposit x interest rate %/12 x number of months of deposit.

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

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

* Interest rate information is for reference only and may change from time to time. Please contact the nearest bank transaction point or hotline for specific advice.

Readers can refer to more information about interest rates HERE.

Source: https://laodong.vn/tien-te-dau-tu/2-ngan-hang-co-lai-suat-hon-76-khi-gui-tiet-kiem-12-thang-1375444.ldo