Sending money to a bank for a 1-year term deposit is when you deposit a sum of money into the bank for a period of 12 months and receive interest according to the regulations. At the end of the 12 months, the depositor will receive the principal and interest.
Currently, the interest rates for 1-year term deposits vary among banks, ranging from 4.05% to 5.3% per year. VietBank and Nam A Bank offer the highest interest rate of 5.3% per year. NCB and OceanBank follow with an interest rate of 5.1% per year. A few banks still maintain a 5% interest rate for this term, including Dong A Bank, Viet A Bank, Sacombank, LPBank, and Saigonbank.
The group of banks with low interest rates for a 1-year term includes SCB (4.05% per year), VPBank, MSB, ABBank, all offering an interest rate of 4.3% per year for a 12-month term.
(Illustrative image)
| Bank | Interest Rate for 12-month Term (% per year) |
| Eximbank | 4.9% |
| GPBank | 4.65% |
| Vietcombank | 4.7% |
| Agribank | 4.8% |
| Vietinbank | 4.8% |
| BIDV | 4.8% |
| Techcombank | 4.55% |
| Vietbank | 5.3% |
| Nam A Bank | 5.3% |
| HDBank | 4.8% |
| NCB | 5.1% |
| OceanBank | 5.1% |
| Sacombank | 5% |
| SHB | 4.8% |
| PVcomBank | 4.8% |
| MB | 4.7% |
| Bac A Bank | 4.6% |
| SCB | 4.05% |
| VPBank | 4.3% |
