Group of banks listed the highest 10-month savings interest rates

According to Lao Dong reporter at 7:30 p.m. on December 28, 2023, the banks with the highest interest rates for 10-month terms include: KienlongBank (5.5%/year); NCB (5.45%/year); SHB (5.4%/year); PVcomBank (5.3%/year)...

Below are details of interest rates for the terms of the above banks, recorded on December 28, 2023 on the website, readers can refer to:

Deposit 600 million VND, after 10 months receive 27.5 million VND interest

To quickly calculate bank interest, you can apply the interest calculation formula:

For example, if you deposit 600 million VND at bank A for a 10-month term, with an interest rate of 5.5%, the interest received is as follows: 600 million VND x 5.5%/12 x 10 months = 27.5 million VND.

With the same amount and term above, if you save at bank B with an interest rate of 3.5%/year, the amount you can receive will be: 600 million VND x 3.5%/12 x 10 months = 17.5 million VND.