For both counter and online savings, banks offer two forms of interest payment to customers: interest payment at the beginning and end of the period. What is the difference between these two interest payment times?
In fact, the interest rate for deposits at the end of the term is always higher than the interest rate for customers who choose to receive interest at the beginning of the term. In addition, banks also list interest rates for quarterly interest payments (for terms of 6 months or more). The quarterly interest rate is usually higher than the interest rate at the beginning of the term, but lower than the interest rate for deposits at the end of the term.
Some banks such as ACB and ABBank even classify 4 interest rates for each type of deposit: interest rate for receiving interest at the beginning of the period, interest rate for receiving interest monthly, interest rate for receiving interest quarterly and interest rate for receiving interest at the end of the period.
For example, the highest online interest rate for a 6-month term is listed by ABBank at 5%/year. Also for a 6-month online deposit, the interest rate will gradually decrease depending on the time of interest payment. Specifically, the quarterly interest rate is 4.97%/year, monthly interest is 4.95%/year and pre-paid interest is 4.88%/year.
According to a survey, with the current interest rate schedule of banks, the interest rate at the end of the term is often 0.02-0.2%/year higher than the interest rate at the beginning of the term.
Even the interest rate difference at banks listing high interest rates, such as BVBank, is up to 0.65% for long terms.
Specifically, BVBank is listing online deposit interest rates for 18- and 24-month terms at up to 6%/year (interest paid at the end of the term), but the interest rates for customers receiving interest at the beginning of the term are 5.5%/year and 5.35%/year, respectively, with a difference of 0.5% and 0.65%/year.
Even the largest difference between the beginning and end of term interest rates at LPBank is up to 1.35%/year when this bank is listing the highest mobilization interest rate of 5.9%/year for online deposits with interest paid at the end of term, term of 18-60 months. However, the interest rate for receiving interest at the beginning of term for these terms is only from 4.55%-5.42%/year, the highest difference is up to 1.35%/year for term of 60 months.
At the bank with the highest listed deposit interest rate today, such as NCB, the difference between the interest rate at the beginning and end of the term is up to 1.41% when depositing at the counter for a term of 60 months.
| DIFFERENCE BETWEEN ONLINE DEPOSITS INTEREST RATES AT THE END OF THE TERM - AT THE BEGINNING OF THE TERM/MONTH OF SOME BANKS (%/YEAR) | ||||||
| BANK | 3 MONTHS | 6 MONTHS | 12 MONTHS | |||
| ABBANK | 3.7 | 3.67 | 5 | 4.88 | 5.6 | 5.3 |
| BAC A BANK * | 4.1 | 4.05 | 5.25 | 5.15 | 5.7 | 5.55 |
| BAOVIET BANK * | 4 | 3.98 | 5.2 | 5.12 | 5.8 | 5.6 |
| BVBANK | 4 | 3.96 | 5.2 | 5.06 | 5.8 | 5.48 |
| EXIMBANK * | 4.3 | 4.1 | 5.2 | 5 | 5.2 | 5 |
| LPBANK | 4.1 | 4.05 | 5.3 | 5.06 | 5.6 | 5.3 |
| MSB | 3.7 | 2.75 | 4.6 | 3.6 | 5.4 | 4 |
| NCB * | 4.1 | 4.08 | 5.45 | 5.38 | 5.8 | 5.65 |
| PGBANK * | 3.8 | 3.79 | 5 | 4.95 | 5.5 | 5.37 |
| PVCOMBANK | 3.6 | 3.56 | 4.5 | 4.4 | 5.1 | 4.85 |
| SACOMBANK * | 3.6 | 3.59 | 4.9 | 4.85 | 5.4 | 5.27 |
| SCB | 1.9 | 1.88 | 2.9 | 2.85 | 3.7 | 3.56 |
| VIET A BANK * | 3.7 | 3.68 | 4.8 | 4.75 | 5.4 | 5.27 |
| The (*) is a comparison of online interest rates at the end of the term and by month. |
Source: https://baodaknong.vn/gui-tiet-kiem-nen-chon-linh-lai-dau-ky-hay-cuoi-ky-de-huong-lai-suat-cao-231563.html
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