A bank appears with interest rates higher than 8% for 13-month savings

Illustration: Tra My

Among nearly 30 banks in the system, PVcomBank is leading the market with a 13-month term when listing the highest savings interest rate at 9.5%/year for mass savings products. However, this only applies to savings deposits at the counter for newly opened deposit balances of VND2,000 billion or more.

PVcomBank traditional savings interest rate table. Screenshot

HDBank applies an interest rate of 8.1%/year for a 13-month term with the condition of maintaining a minimum balance of VND300 billion. When customers deposit at the counter, under normal conditions, they only receive an interest rate of 5.6%/year. If they deposit online, customers receive an interest rate of 5.7%/year.

HDBank traditional savings interest rate table. Screenshot

HDBank online savings interest rate table. Screenshot

Cake by VPBank is listing the highest 13-month interest rate at 5.7%/year when customers receive interest at the end of the term. Customers depositing money for other terms enjoy interest rates ranging from 3.7-6%.

Cake by VPBank savings interest rate table. Screenshot

CBBank is listing the highest interest rate for a 13-month term at 5.55%/year when customers deposit money online and receive interest at the end of the term. CBBank is listing interest rates ranging from 3.4-5.55%/year.

CBBank online savings interest rate table. Screenshot

NCB is listing the highest interest rate for a 13-month term at 5.5%/year when customers deposit savings at An Phu, receiving interest at the end of the term. If customers deposit money in a traditional way, they will only receive an interest rate of 5.4%/year.

OceanBank online savings interest rate table. Screenshot

How much interest can I receive for a 13-month savings deposit?

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 in Bank A, term 13 months and enjoy interest rate 5.7%/year, the interest received is as follows:

1 billion VND x 5.7%/12 x 13 = 61.75 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 advice.

Readers can refer to more information about interest rates HERE.

Source: https://laodong.vn/tien-te-dau-tu/xuat-hien-mot-ngan-hang-co-lai-suat-cao-hon-8-khi-gui-tiet-kiem-13-thang-1346554.ldo