Latest interest rates for Agribank , VietinBank, Vietcombank, and BIDV
According to observations by reporters from Lao Dong newspaper with four banks – Vietcombank, Agribank, VietinBank, and BIDV – on August 5, 2024, deposit interest rates are currently listed around 1.6-4.8% per year.
Among them, VietinBank offers the highest interest rate (4.8% for terms over 24 months); Agribank's rates range from 1.6-4.8%/year. Following closely behind are BIDV's rates, currently ranging from 1.7-4.7%/year, and Vietcombank's rates, currently ranging from 1.6-4.7%/year.
Here are the latest details on interest rates from the Big 4 banks:
Below is a detailed update on interest rates for the Big 4 banks:
Additionally, readers can refer to the interest rates of some other banks through the following table:
PVcomBank currently offers the highest interest rates in the market, reaching 9.5% for a 12-month term with a minimum deposit of 2,000 billion VND.
Next is HDBank with a relatively high interest rate of 8.1%/year for a 13-month term and 7.7% for a 12-month term, provided a minimum balance of 500 billion VND is maintained. This bank also applies an interest rate of 6% for an 18-month term.
MSB also offers relatively high interest rates, with over-the-counter deposits reaching up to 8% per year for a 13-month term and 7% for a 12-month term. The conditions for this offer are: newly opened savings accounts or savings accounts opened from January 1, 2018, that are automatically renewed, with a 12-month or 13-month term, and a minimum deposit amount of 500 billion VND.
Dong A Bank offers a deposit interest rate of 7.5% per annum for terms of 13 months or more, with interest paid at the end of the term, for deposits of 200 billion VND or more.
NCB, VRB, and OceanBank apply an interest rate of 6.1% for a 24-month term; BAC A BANK applies an interest rate of 6.05% for a 24-month term.
OCB applies an interest rate of 6% for a 36-month term; ABBank applies an interest rate of 6% for a 12-month term; BVBank and Cake by VPBank also apply an interest rate of 6% for 24-month and 12-month terms; SaigonBank applies an interest rate of 6% for 13, 18, and 24-month terms, and 6.1% for a 36-month term.
What interest rate would I receive if I deposited 500 million VND at a Big 4 bank?
To calculate the interest earned on a savings deposit at a bank, you can use the following formula:
Interest = Deposit amount x Interest rate %/12 x Number of months deposited
For example, if you deposit 500 million VND for a 24-month term at Bank A with an interest rate of 4.7%/year, you could receive: 500 million VND x 4.7%/12 x 24 = 47 million VND.
With the same amount and term, if you deposit your savings at Bank B with an interest rate of 4.8%, the interest you will receive will be: 500 million VND x 4.8%/12 x 24 = 48 million VND.
* Interest rate information is for reference only and may change from time to time. Please contact your nearest bank branch or hotline for specific advice.
Source: https://laodong.vn/tien-te-dau-tu/bien-dong-lai-suat-vietcombank-agribank-vietinbank-va-bidv-1376119.ldo
