Sacombank's 2022 Bank Interest Rates: Types and How to Calculate Loan Interest, Savings Interest Rates

Like other banks, at the end of 2022, Sacombank also adjusted and increased savings and lending interest rates across all terms. So, what is Sacombank's bank interest rate? Is saving with Sacombank good? The answers are in the article below from Mytour.vn.

How much is Sacombank's savings interest rate? Latest update on Sacombank's bank lending interest rates.

1. Types of Savings at Sacombank

Sacombank's interest rates vary depending on the type of savings. At present, there are two main types of savings: non-term savings and fixed-term deposit savings.

In addition to the above-mentioned savings types, Sacombank also offers various other savings packages with attractive interest rates such as: Prosperous Mid-Age Savings, Great Prosperity Savings, Phu Dong Savings, Wealth Accumulation Savings, Future Deposit Savings, Dynamic Week Savings, Lucky Mid-Term Savings,... You can find more information about these high-interest savings packages at Sacombank's website.

2. Latest Sacombank Bank Savings Interest Rates

Currently, Saigon Thuong Tin Commercial Joint Stock Bank offers 2 savings options for individuals and businesses, including in-person savings and online savings through Sacombank's electronic banking applications.

Note:

- The interest calculation basis for both term and non-term savings at Sacombank is 365/365.

- Minimum amount for initial deposit:

+ For VND Savings: 50,000 VND

+ For Foreign Currency Savings: 50 USD or equivalent foreign currency.

- Sacombank does not specify a maximum deposit limit.

- When there is a need to withdraw partially or entirely before maturity. The minimum withdrawal amount each time is 1,000,000 VND (one million dong).

2.1. Sacombank Savings Interest Rates at Transaction Counters

To deposit savings at Sacombank, customers only need to bring all necessary documents to the nearest Sacombank branch or transaction office for assistance in opening an account. When choosing to deposit money at the counter, you will enjoy the following interest rates:

Sacombank Savings Interest Rates at Transaction Counters, updated November 2022

2.2. Sacombank Online Savings Interest Rates

Typically, the interest rates for online savings at Sacombank are higher than those for counter savings by 0.2 - 0.3% per year. For easy comparison, you can refer to the table below for online savings with Sacombank.

Interest rates for Sacombank savings apply to customers who deposit online

Here are some attractive savings packages you can consider:

- Phu Dong Savings Package: For new and renewed savings accounts from June 01, 2021, fixed interest rates apply throughout the deposit term as follows: 6-month term: 6.0%; 12-month term: first 6 months 8.9%; 24-month term: first 18 months 9.0%, 36-month term: first 30 months 9.0%, 48-month term: first 42 months 9.0%, 60-month term: first 54 months 9.0%

- Dai Phat Savings Package: 24-month term: quarterly interest rate of 8.36%, end of term interest rate of 9.0%; 36-month term: quarterly interest rate of 8.05%, end of term interest rate of 9.0%

Similar to Sacombank, ACB Bank also offers various flexible interest packages to meet the savings and lending needs of customers. For further comparison, readers can follow updates on ACB Bank interest rates provided by Mytour.vn.

2.3. Calculating Sacombank Savings Interest Rates

Amount of interest per day:

Interest amount = Actual balance x Interest rate/365

Note: For deposits with actual balance maintained for more than 01 day during the interest calculation period, the formula for calculating interest in this case is: Interest amount = ∑ (Actual balance x Number of days with maintained actual balance x Interest rate)/365.

3. Latest Sacombank Bank Lending Interest Rates

* For Vietnamese Dong (VND)

- Term from 1 - 3 months, interest rate 6.5%

- Term 4 - 6 months, interest rate 9.3%

- Term from 7 - 9 months, interest rate 9.5%

- Term from 10 - 12 months, interest rate 10.1%, and for medium to long term, the interest rate will be 10.1%

* For foreign currency lending rates

- Term up to 12 months interest rate 0.2%, over 12 months is 6%.

For other currencies, Sacombank's bank lending interest rates are calculated based on the USD base rate plus foreign currency conversion fees.

Sacombank bank lending interest rates, updated November 2022

This article compiles and shares useful information about Sacombank's bank interest rates and detailed instructions on how to calculate bank interest rates to best support readers who are considering and using the bank's savings and lending products.

https://Mytour.vn/lai-suat-ngan-hang-sacombank-31729n.aspx
Along with the trend of adjusting interest rates in the market, Saigon Commercial Joint Stock Bank (SCB) also has certain changes in deposit interest rates, lending rates to attract consumers. Readers can refer to the SCB bank interest rates article to grasp the detailed interest rate table for each term.