Savings interest rate at Vietcombank for 12-month term

According to the reporter of Lao Dong Newspaper, Vietcombank listed savings interest rates ranging from 1.6 - 4.7%, depending on the term.

Of which, the 12-month savings deposit term is 4.6%. For deposit terms from 24 months to 60 months, Vietcombank's interest rate is 4.7%.

Below is the full set of savings interest rates at Vietcombank counters for your reference.

Savings interest rate at MBBank for 12-month term

MBBank's interest rate for customers depositing savings at the counter is fluctuating around 2.8 - 5.5%. In particular, for a 12-month savings term, MBBank's listed interest rate is 4.6%.

Thus, for a 12-month deposit term, the interest rates listed by Vietcombank and MBBank are the same.

In addition, MBBank also listed the interest rate for deposits with a term of 36 months or more at 5.5%; for a term of 24 months, the interest rate is at 5.4%.

Below is the full set of MBBank savings interest rates, readers can refer to more.

Savings interest rate at BaoVietBank for 12-month term

For 12-month savings term, BaoVietBank is listing interest rates ranging from 5.21 - 5.5%. Of which, customers who receive interest at the end of the term will enjoy the highest interest rate.

Currently, BaoVietBank's interest rate schedule is around 3.1 - 5.9%. In which, the highest interest rate term for savings deposits at BaoVietBank is 18 months, 24 months, and 36 months (5.9%).

Thus, compared to Vietcombank and MBBank, BaoVietBank's 12-month interest rate is 0.9 percentage points higher.

Below is the full set of BaoVietBank savings interest rates, readers can refer to more.

Deposit 500 million VND in savings at MBBank, Vietcombank, BaoVietBank, how much interest will I receive after 1 year?

Formula for calculating bank interest:

Interest = Deposit x interest rate (%)/12 months x deposit term.

+ If you deposit 500 million VND in MBBank savings for 12 months, interest rate 4.6%, the interest you receive is:

Interest = 500 million x 4.6%/12 x 12 = 23 million VND.

+ If you deposit 500 million VND in Vietcombank savings for 12 months, interest rate 4.6%, the interest you receive is:

Interest = 500 million x 4.6%/12 x 12 = 23 million VND.

+ If you deposit 500 million VND in BaoVietBank savings for 12 months, interest rate 5.5%, the interest you receive is:

Interest = 500 million x 4.5%/12 x 12 = 27.5 million VND.