2 banks have sky-high savings interest rates of over 8% for 12-month term

According to a survey by Lao Dong Newspaper reporters, PVcomBank is leading the 12-month savings interest rate list, listing an interest rate of up to 10%/year for a 12-month term. However, to enjoy this extremely 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 interest rate at 5.4%/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 5.1%/year.

PVcomBank traditional savings interest rate table. Screenshot

PVcomBank online savings interest rate table. Screenshot

HDBank listed an interest rate of 8%/year for a 12-month term with the condition of maintaining a minimum balance of 300 billion VND. Under normal conditions, when making an online deposit for a 12-month term, customers receive an interest rate of 5.7%/year. If customers deposit money at the counter, they only receive an interest rate of 5.5%/year.

Under normal conditions, HDBank is listing the highest interest rate at 6.5%/year when customers deposit money online for an 18-month term.

HDBank traditional savings interest rate table. Screenshot

HDBank online savings interest rate table. Screenshot

NCB is listing the highest interest rate for a 12-month term at 5.7%/year when customers deposit money at An Phu. Customers with traditional deposits only receive an interest rate of 5.55%/year.

Currently, NCB is listing the highest interest rate at 6%/year when customers deposit savings at An Phu for 15-60 months.

NCB savings interest rate table. Screenshot

OceanBank is listing the highest interest rate for a 12-month term at 5.5%/year when customers deposit money online. Customers depositing money at the counter receive an interest rate of 5.4%/year.

OceanBank savings interest rate table. Screenshot

Deposit 500 million VND, after 12 months receive how much interest?

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 500 million VND into Bank A, term 12 months and enjoy interest rate 5.7%/year, the interest received is as follows:

500 million VND x 5.7%/12 x 12 = 28.5 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