3 banks with the highest interest rates for 12-month savings

12-month savings interest rates under normal conditions are fluctuating around 4.4 - 6%. Design: Thach Lam

Leading the 12-month savings interest rate table, PVcomBank listed an interest rate of up to 9.5%/year. However, customers need to meet the condition of depositing at least 2,000 billion VND at the counter and this only applies to products that receive interest at the end of the term. In addition, 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, the top 3 banks with high 12-month savings interest rates include Cake by VPBank , ABBank, and GPBank.

ABBank is listing the highest interest rate for a 12-month term at 6% when customers deposit money online and receive interest at the end of the term. Customers receiving quarterly interest, monthly interest, and advance interest receive lower interest rates, at 5.87%, 5.84%, and 5.66%, respectively.

ABBank savings interest rate table. Screenshot

Similarly, Cake by VPBank is listing the highest interest rate for a 12-month term at 6% when customers receive interest at the end of the term. Customers receiving quarterly interest, monthly interest, and early interest receive lower interest rates, at 5.68%, 5.65%, and 5.48%, respectively.

Cake by VPBank savings interest rate table. Screenshot

GPBank is listing the highest interest rate for a 12-month term at 5.75%/year when customers deposit savings electronically. GPBank's listed interest rates range from 0.50-5.85%.

GPBank savings interest rate table. Screenshot

How much interest do you receive if you save 2 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 2 billion VND into Bank A, term 12 months and enjoy interest rate 5.8%/year, the interest received is as follows:

2 billion VND x 5.8%/12 x 12 = 116 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/3-ngan-hang-co-lai-suat-cao-nhat-khi-gui-tieu-kiem-12-thang-1367899.ldo