Cake by VPBank has introduced an attractive savings interest rate of 9.2% per annum for customers who deposit 200 million VND for a six-month term. This promotional rate is available exclusively for first-time depositors at Cake by VPBank.

According to a survey conducted by Lao Dong newspaper involving nearly 30 banks, the standard interest rate for a six-month deposit at Cake by VPBank is set at 7.2% per annum for customers who choose to receive interest at the end of the term. For those opting for monthly or quarterly interest payments, the rates are 6.78%, 7.02%, and 7.09% respectively.

Additionally, Cake by VPBank is offering an extra 2% interest for first-time deposits starting from 100,000 VND. This means that customers can enjoy a total interest rate of up to 9.2% for a six-month deposit.

In comparison, BAC A BANK has the highest interest rate for a six-month term at 7.05% per annum, while VCBNeo offers a maximum of 7% for the same duration. PGBank follows closely with a six-month rate of 6.9% per annum.

To calculate the interest earned on a six-month deposit, the formula is as follows:

• Interest = Deposit Amount x Interest Rate (%) / 12 months x Number of Months

For instance, if you deposit 200 million VND at an interest rate of 9.2% for six months, the estimated interest earned would be:

• 200 million VND x 9.2% / 12 x 6 = 9.2 million VND.

Before making a deposit, it is advisable for customers to compare interest rates across different banks and terms to maximize their earnings. Please note that the information regarding interest rates is for reference only and may change over time. For specific inquiries, customers should contact their nearest bank branch or hotline.