Term deposit account means a sum of money of a customer held at the bank for a fixed term as agreed upon between the customer and the bank and customer will be paid full of principal and interest.
Introduction
Benefits
- Target customer: Enterprise customer/ entity have need of term deposit
- Currencies: VND, USD and other currencies in accordance with regulation
- Minimum/Maximum balance: not required
- Term: Up to 60 monthsFor 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
- Interest: applied basic interest of term deposit listed publiclyat the counter and website
- Interest Rate for Premature withdrawal of deposits a. Interest Rate for Premature withdrawal a part of deposits
Regarding the part of withdrawn deposit before maturity: apply the lowest interest rate of demand deposit account based on the type of customer and/or currency at the time premature withdraw;
Regarding the remaining deposit: apply the interest rate equal to the interest rate applied to the deposit that the customer has withdrawn a partb. Interest Rate for closing account before maturity is the lowest interest rate of demand deposit account based on the type of customer and/or currency as announced at time of closing the account
c. 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. - Interest payment method: monthly or at the maturity
- Deposit method: deposit and payment through demand deposit account of customer
- Others: this deposit can be used as mortgage, pledge to have a loan.
Required Documents
Application for opening account cum deposit agreement
Proof Document about legally establishing and operating of entities (Enterprise Registration Certificate/ Investment registration certificate..)
Document to define legal reprensentative/ authorized person and information identify documents; document to defind Chief Accountant/ Person in charge of Accounting, authorized accountant and information identify documents
Tax code certificate/ seal registeration (if any)
Other document related to opening account in accordance with the regulation of Woori VietNam in each period
