Installment Deposit

1. Target Customers

•       Resident organizations 
•       Non-resident organizations: only include diplomatic missions, consulates, representative bodies of international organizations in Vietnam; representative offices, project offices of foreign organizations in Vietnam

     2. Applicable Currency 

• Applicable currencies shall be basically VND, USD, EUR or JPY, but may be flexibly added or restricted in accordance with the policy of the SBV or the internal policy of the Bank 

3. Deposit Period

     a. The deposit period may be fixed by unit of months from a period of not shorter than 6 months but no longer than 60 months
 

     b. For non-resident organizations: deposit term not exceed the remaining period of Establishment Decision/Operating License/Corporate Registration Certificate/Business Registration Certificate/other equivalent documents in compliance with laws and regulations 

4. Amount of Deposit

• There is no restriction on the deposit amount 

5. Depositing Method

• Deposits shall be made in a fixed amount on an agreed-on date each month. If the deposit date falls on a holiday, the deposit may be made on the next following banking day 

6. Basic Interest Rate 

• The basic interest rate of the deposit shall be applied at the different rate per deposit period as posted at the branch or the internet homepage as of the opening date of the account 

7. Interest Payment Method

• Interests on the deposits shall be paid in a lump sum at maturity in addition to the principal. The interests shall accrue on the principal at the rate posted at the branch as of the opening date of the account during the period from the monthly deposit date to the date preceding maturity 

8. Interest Rate for Early Termination

• Premature maturity a part of deposit is not allowed 

• Interest Rate for closing account before maturity is lowest interest rate of demand deposit account based on the type of customer and/or currency as announced at time of closing the account. 

     9. Interest rate after Maturity 

• The interest rate after maturity shall be applicable at the interest rate after maturity of general deposits as announced as of the maturity of the deposit.