You own cash up to 500 million but do not want to invest or do business. Put your savings in the bank. You have just preserved the principal of 500 million and still receive monthly interest. Are you interested? 500 million, how much interest is deposited in the bank per month? are not? Although the bank deposit interest is not as great as when you invest in securities, real estate... But it is safe and steady, without risk. Find out about savings interest rates in this article.
What is a bank deposit?
Bank savings deposit is a form of depositing your money into the bank according to different savings packages. The bank holds the deposit and will pay you interest monthly. If you have an idle amount of money that you do not want to invest because of risk aversion. Then a bank savings account is the best choice. It is possible to preserve the principal amount and still be profitable (monthly interest), even though the amount of interest is not too large.
You can choose to save money in VND or foreign currency. If you send money in Vietnam, you will receive interest. If you deposit in foreign currency, you will not be charged interest. But over time, the exchange rate of foreign currency changes, the amount of savings is still profitable.
Saving money at the bank is very safe. You will receive a passbook and proof of deposit at the bank. These are important pieces of evidence that you must take care of. It is directly related to the receipt of monthly interest and the case of withdrawal of savings.
500 million in bank deposit how much interest 1 month?
500 million dong is a milestone that many people save at banks. That's why the question 500 million, how much interest is deposited in the bank per month?? become a common question of many customers. In fact, in order to calculate the interest rate, you must know what the specified interest rate of the bank you deposit is.
Different banks offer different interest rates. Some banks choose low interest rates, some banks offer high interest rate incentives to attract customers. But in general, bank interest rates are based on market interest rates.
With the principal amount deposited in the bank is 500 million, the interest per month is not small. We introduce to readers 2 popular interest calculation formulas today. You just need to replace the bank interest rate to calculate the amount of interest received each month.
The formula for calculating the interest rate on a bank savings account of 500 million VND
The current calculation of interest rates on bank savings accounts is based on the following two formulas. The client will calculate the amount of interest received by himself in a few steps.
For term deposit savings
Savings deposit without term is when you deposit money in a bank but do not specify a time limit for withdrawing money. That means you can withdraw money flexibly, whenever you want. Interest is calculated based on the number of days customers deposit money at the bank.
Interest = Principal x (1 year interest / 365 days) x actual number of days deposit at the bank.
- You deposit 500 million without term interest rate 5.5%/year, 25 days later to the bank to withdraw money.
- So the profit you get is: 500 x (5.5%/365) x 25 = 1,883,561 VND.
For term savings
Term savings deposit is a savings deposit with a fixed withdrawal term. Interest rates on term deposits are always higher than interest rates on demand deposits. The customer must withdraw the money for a sufficient period to receive the correct interest rate. If you withdraw money before the maturity date, the interest rate will be reduced, calculated according to the demand interest rate.
Specifically: 1 month interest = Principal x (1 year interest / 365) x 30 days.
For example: You deposit 500 million for a 3-month term with an interest rate of 8%/year. Interest received after 1 month is:
1 month profit = 500 x (8%/365) x 30 = 3,287.671 VND.
Current popular bank savings packages:
- Unlimited savings
- Avoided have
- Flexible savings
- Cumulative savings
- Online savings
In addition to the above savings packages, banks also develop many other savings packages to serve specific target groups with preferential interest rates. Before depositing money at any bank, you should carefully find out what savings packages that bank has. And which package is best for you? Bank staff will advise and answer your questions.
Top 10 banks with the highest interest rates today
Bank interest rates often change according to market interest rates. In addition, banks often have to raise interest rates to compete with other competitors. Here are some banks with high savings interest rates for your reference:
|Vietcombank||6.8 – 7.8%|
|Sacombank||7.7 – 7.9%|
|BIDV||6.8 – 7.6%|
|MSB||7.7 – 7.9%|
|Ocean Bank||7.7 – 7.9%|
|SCB||8.4 – 8.55%|
|Eximbank||8.4 – 8.55%|
|Viet A Bank||8.0%|
- The current highest interest rate is 8.6%/year: Viet Capital Bank, TPbank,
- Interest rate 8.4%-8.55%/year: , PVcombank.
- Interest rate 8.3%/year: Vietinbank, ABbank.
- Interest rate of 8.0%/year: LienVietPostBank, NCB.
- Interest rates from 7.7% to 7.9%/year: MBbank, KienLong Bank, Bac A Bank.
- Interest rates from 6.8% - 7.8%/year: Techcombank, SeAbank...
Based on the information Bankcuatoi.com provided above, you already know How to calculate 1 month interest when depositing 500 million in bank savings? then. Refer to the list of banks with high savings interest rates and choose a suitable deposit place for yourself.