The Power of Compounding: Maximizing Returns with VPBank’s Latest Fixed Deposit Rates for August

According to the latest survey, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) is offering interest rates on deposits ranging from 0.4% to 6.0% per annum. VPBank’s interest rate schedule corresponds to five tiers of deposit amounts: below VND 1 billion; from VND 1 billion to below VND 3 billion; from VND 3 billion to below VND 10 billion; from VND 10 billion to below VND 50 billion; and VND 50 billion and above.

For deposits made at the counter, the interest rate for a 1-month term ranges from 3.5% to 3.7% per annum, depending on the deposit amount. The interest rate for 2-5 month terms is 3.7% to 3.9% per annum, while the rate for 6-11 month terms is currently 4.9% to 5.1% per annum. The interest rate for 12-18 month terms is 5.4% to 5.5% per annum, and for 24-36 month terms, it is 5.7% to 5.8% per annum.

VPBank’s Deposit Interest Rate Schedule for August 2024

If customers choose to make their deposits online, the interest rates offered are 0.1% per annum higher than those for counter deposits. Specifically, for a 1-month term, the interest rate ranges from 3.6% to 3.9% per annum, while for 2-5 month terms, it is 3.8% to 4.0% per annum. The interest rate for 6-11 month terms is 5.0% to 5.2% per annum, for 12-18 month terms it is 5.5% to 5.6% per annum, and for 24-36 month terms, it is 5.8% to 5.9% per annum.

Additionally, VPBank offers a priority customer policy, where customers with a minimum deposit balance of VND 100 million and a minimum term of 1 month will receive an additional 0.1% per annum on top of the current advertised rates.

As such, the highest interest rate offered by VPBank can reach up to 6.0% per annum for priority customers who make online deposits of VND 10 billion or more for 24-36 month terms. For smaller deposit amounts, the maximum savings interest rate applied at VPBank is 5.9% per annum.