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Which bank is the most beneficial to deposit money?

Which bank is the most beneficial to deposit money?

Thursday 30, 01 2020
With an abundance of money after Tet, where should you deposit your money to have high interest rates and "hunt" the bank's lucky money?

The interest rate for terms of less than 6 months is 5%/year at the highest

Deposit rates for 1-3 month terms were commonly listed in the range of 4.3-5%/year. In particular, most banks are currently listing the ceiling of 5%/year. Only state-owned banks, such as Vietcombank, listed at a lower level: 4.3%/year for a 1-month term, 4.8%/year for a 3-month term.

Due to the interest rate ceiling as stipulated by the State Bank, the savings interest rates for less than 6-month terms at banks are almost no difference, therefore depositors can choose easily.

6-month term interest rate is up to 8%/year

Different from the terms of less than 6 months, from the term of 6 months onwards will have significant differences of up to 2%/year.

The 6-month term interest rate at the "Big 4" banks is only 5.3%/year, while most of the private banks list over 6%/year, even up to 8%/year.

Banks that have listed from 6.5 to 7%/year can include Techcombank, SHB, VPBank, OCB. Specifically, Techcombank listed interest rates for 6-month terms from 6.2-6.9%/year (depending on the number of deposits). At OCB, the 6-month deposit interest rates are from 7.2-7.3%/year, ...

The highest listed banks are CBBank (8-8.4%/year), NamABank (6.8-8.3%/year), NCB (8%/year), ...

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Which bank is the most beneficial to deposit money?

The highest interest rate for 12-month and 24-month term loans is nearly 8.6%/year

The interest rate for 12-month term deposits is usually 7-8.5%/year. The lowest listed group includes 4 state-owned banks (6.8%/year) and ACB (6.8-7.1%/year), SHB (7%/year), ...

The highest 12-month interest rate on the market is at CBBank and NamABank, from 8-8.5%/year, regardless of the amount of the deposit.

Meanwhile, at a 24-month term, many banks listed interest rates above 8%/year, including NCB (8.2%/year), NamABank (up to 8.6%/year), Eximbank (8.2%/year), VietCapitalbank 8.1%/year.

In addition, banks with interest rates of approximately 8%/year for the 24-month term also include ACB (7.6-7.8%/year), OCB (7.7-7.8%/year), ...

Banks currently have different interest rates such as savings deposit rates at the counter, online savings interest rates and some special savings programs, applied only for a short time. In particular, interest rates for online savings are often significantly higher.

In addition, some banks are issuing long-term deposit certificates with very high interest rates. For example, SHB issued 6-year, 8-year deposit certificates with the highest interest rate up to 9.3%/year (for the first interest payment period), NamABank has 7-year deposit certificates with the interest rate from 8.2-8.9%/year.

Over the years, customers have gradually come to the bank to deposit money on the first working days of the year because there are many promotions, incentives such as giving lucky money, giving gifts, lucky draw, ...

Like every year, during the first 5 working days, many banks will give lucky money from VND 50-400 thousand for the first customers to come to the transaction, regardless of the amount of transaction. As observed, banks that often have lucky money programs for customers in previous years include BIDV, SHB, Sacombank, Ban Viet, ...

​>> At the end of 2019, the banks report big profits

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