大咖福利影院

Swee Loke wrote:

Hi all, currently, which is the best LOCAL bank for the best deposit rates for say, 12 thang? Thanks a million.

or as an alternative you could try an investment bond with T*SI............6 months paying interest every quarter 8% PA..................12 months paying interest every quarter 8.8 PA

Jeff-FL wrote:

Is that where my Vietnamese citizen friend could put an initial investment in of say $1000, then additional $100 per month....based on simple interest.....earn about $28K by the end of 13 months?

I suspect some zeros are missing from your numbers

tunnelrat69 wrote:

$$ Accounts have not received that kind of interest since about 2000.聽 Viet Dong accounts have been bouncing between 14% (year 2000) and now down to about 7.5 PER ANNUM. My wife is getting about 300mil Viet dong a year on a 4 Bill bom ti)聽 account.

Find me an account that for $1000 USD investment I get $28K USD a year and I'll dump a Half a Mil USD into it tomorrow.聽

14% ahhhhhhhhh I remember those good old days

Jeff-FL wrote:

Is that where my Vietnamese citizen friend could put an initial investment in of say $1000, then additional $100 per month....based on simple interest.....earn about $28K by the end of 13 months?

Oh good a math problem.聽

In Vietnamese banks, dollar accounts don't get interest. Earnings = $0.
So use VND accounts.聽

VND accounts pay interest but you have to sign a contract at deposit time.
Let's say 12 month contracts, iAnnual,聽 give 6%.
Let's say 1 month contracts, iMonth, give 5% starting with 2nd month.
(Ignore that there are quarterly, semiannual rates too.)
After 13 periods of simple non-compounding interest:

earnings = one 12-month deposit + one 13th-monthly deposit + 12 monthly deposits
earnings = ($1000 * iAnnual) + ($1000 * iMonth) + ( $100 * iMonth * ((12 months + 1)/2 * 12))
earnings =聽 $50 + $5 + $390
earnings = $445

Did you mean 13 years? I think so.
Using compound interest now with nerdwallet.com calculator ...

Add these -
$1000 single deposit after 13 years = $2,133
$100 recurring monthly deposit after 13 years = $22,884.
$25k almost $28k 聽 聽

Caveats:
Used 6% rate, probably changes to ?? by 2032.
Remember VND fundnot $ accounts.
Currency conversions always changing.

Swee Loke wrote:

To colinoscopee: SCB gives 7.5% for foreigners on 13 month basis only if deposit is 500 k. Nothing less. FYI.聽 For 12 months it is 7% a trifle less..

Im confused, you talking 500k or 500 trieu?

pureluck wrote:

I only got 6.8% for 13 months from SCB last month聽

As long as the Vi峄噒 Nam 膽峄搉g continues to strengthen in relation to a weaker US Dollar, I would only expect that downward trend to continue.

It definitely wouldn't surprise me to see the interest rates drop below 6% this year.

OceanBeach92107 wrote:

pureluck wrote:

I only got 6.8% for 13 months from SCB last month聽

As long as the Vi峄噒 Nam 膽峄搉g continues to strengthen in relation to a weaker US Dollar, I would only expect that downward trend to continue.

It definitely wouldn't surprise me to see the interest rates drop below 6% this year.

[img align=C]https://gordythomas.files.wordpress.com/2022/01/screenshot_20220126-101103_chrome.jpg[/url]

But as an alternative take on the USD to VND rate the FED have indicated first interest rate rise as of March & who knows where USD rates will be at by year end the way things are going & it would not surprise me if the USD/VND is above 23k again by year end & I can live in hope anyways! My dream for 2022...........strong USD, WORLD STOCK MARKETS ALL UP UP UP, COVID IS JUST A BAD DREAM. Well no harm in dreaming is there

qnbui wrote:

Just curious if you need to be living in VN to be able to take advantage of these products?

Yes