The bank introduced online certificates of deposit in early january, applicable for terms of 6, 9, 12, and 15 months. Customers can participate with a minimum deposit of 10 million dong and have the flexibility to choose between monthly or end-of-term interest payments. For end-of-term payments, interest rates are set at 6,5% for the 6 and 9-month terms, 6,8% for the 12-month term, and a high of 7,8% for the 15-month term.
In addition to the new CDs, online savings interest rates via the Digimi application remain stable. Deposits with short terms of less than one month offer an interest rate of 0,3% per year, while terms from one to less than 5 months yield 4,75%. For terms ranging from 6 to 24 months, the bank applies a uniform interest rate of 6,2%.
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BVBank provides deposit services for customers. Photo: BVBank
For over-the-counter deposits with end-of-term interest payments, BVBank's current mobilization interest rates range from 0,3% to 6,45% per year. Specifically, the 12-month term offers an interest rate of 6,45% per year. Terms from 15 to 24 months have an interest rate of 6,15% per year, while longer terms from 36 to 60 months are listed at 6,4% per year. Short-term rates generally fall between 4,75% and 6,15% per year.
According to a bank representative, customers can use an interest calculation formula based on their actual deposit amount and chosen term to better understand potential earnings. For instance, a 200 million dong investment in a 15-month certificate of deposit is estimated to yield 19,5 million dong in interest. This option offers an additional yield of approximately 1,6-1,8% per year compared to typical savings interest rates around 6% per year, making it suitable for customers prioritizing low-risk investment channels.
For customers without an existing BVBank account, the bank facilitates entirely online account opening through the Digimi application. This simplified process allows customers to quickly access deposit products and other financial services offered by the bank.
Hoang Dan
