A staff from VIB introduces the bank’s services to customers. (Photo: VNA) Hanoi (VNA) – The VietnamInternational Bank (VIB) on February 20 officially issued certificates ofdeposit (CD) worth 18 million VND and 24 million VND for personal and corporatecustomers to meet their investment demands for deposit.
“Along with savings account, CDis now one of the investment channels preferred by corporate and personalcustomers with a large source of finance,” VIB said.
“For investors who look forsecurity and flexibility in the use of capital, CD will adequately meet thiscriterion as it is an investment channel belonging to a group of investmentassets which generates a fixed income and suits medium-and-long-terminvestors,” it said.
According to the bank, whencustomers apply for an 18-month CD valued at a minimum of 1 million VND, theywill enjoy a fixed interest rate of 6.68 per cent; while the a 24-month CD willbring them a fixed interest rate of 6.88 per cent.
CD holders can also resell theCD to VIB after six months from the issue date at the price equivalent to itsface value and enjoy an interest rate at the reselling date based on theinterest rate listed on the CD, the bank said, adding that the CD’s interestrate will be fixed during the tenor and be paid on the date of maturity or onthe reselling date, and customers can apply for as many CDs as they need toinvest.
Besides this, customers canalso inherit, give and transfer VIB’s CD freely on the secondary market. Inurgent cases, customers can use the bank’s CD as collateral for a loan at VIBand enjoy a preferential lending interest rate. Furthermore, it can also bemortgaged for loans at other banks by law.
On the maturity date of the CD,if customers do not contact VIB, the CD will be automatically converted into aregular deposit account with the same tenor or a shorter tenor if the former isnot available, the bank noted.-VNA
“Along with savings account, CDis now one of the investment channels preferred by corporate and personalcustomers with a large source of finance,” VIB said.
“For investors who look forsecurity and flexibility in the use of capital, CD will adequately meet thiscriterion as it is an investment channel belonging to a group of investmentassets which generates a fixed income and suits medium-and-long-terminvestors,” it said.
According to the bank, whencustomers apply for an 18-month CD valued at a minimum of 1 million VND, theywill enjoy a fixed interest rate of 6.68 per cent; while the a 24-month CD willbring them a fixed interest rate of 6.88 per cent.
CD holders can also resell theCD to VIB after six months from the issue date at the price equivalent to itsface value and enjoy an interest rate at the reselling date based on theinterest rate listed on the CD, the bank said, adding that the CD’s interestrate will be fixed during the tenor and be paid on the date of maturity or onthe reselling date, and customers can apply for as many CDs as they need toinvest.
Besides this, customers canalso inherit, give and transfer VIB’s CD freely on the secondary market. Inurgent cases, customers can use the bank’s CD as collateral for a loan at VIBand enjoy a preferential lending interest rate. Furthermore, it can also bemortgaged for loans at other banks by law.
On the maturity date of the CD,if customers do not contact VIB, the CD will be automatically converted into aregular deposit account with the same tenor or a shorter tenor if the former isnot available, the bank noted.-VNA
VNA
