Update Agribank interest rates on March 16

According to Lao Dong reporter on March 16, Agribank's deposit interest rate is listed at around 1.6-4.7%/year. In which, this bank listed interest rate at 1.6%/year for 1-2 month term; 1.9%/year for 3-5 month term; 3%/year for 6-11 month term; 4.7%/year for 12-24 month term.

Thus, the interest rate for 1-month deposits decreased from 1.7%/year to 1.6%/year. The interest rate for 3-month deposits decreased from 2.0%/year to 1.9%/year. The interest rate for 6-9 month deposits remained at 3%/year. The interest rate for 12-24 month deposits decreased from 4.8%/year to 4.7%/year.

Interest rates on non-term deposits and payment deposits at Agribank are currently at 0.2%/year. Specifically:

This adjustment has made Agribank the bank with the lowest profit in the Big4 group.

In addition, readers can refer to interest rates of some other banks through the following table:

How to receive interest if saving 200 million at Agribank?

To calculate interest on savings deposits at the bank, you can apply the formula:

For example, if you deposit 200 million VND for a 12-month term at Agribank with an interest rate of 4.7%/year, you can receive: 200 million VND x 4.7%/12 x 12 = 9.4 million VND.

With the same amount of money and bank above, if you deposit for 6 months with an interest rate of 3%, the interest you receive will be: 200 million VND x 3%/12 x 6 = 3 million VND.