VIB deposit certificates a superior investment tool
The Vietnam International Bank (VIB) on February 20 officially issued certificates of deposit (CD) worth 18 million VND and 24 million VND for personal and corporate customers to meet their investment demands for deposit.
A staff from VIB introduces the bank’s services to customers. (Photo: VNA)Hanoi (VNA) – The Vietnam
International Bank (VIB) on February 20 officially issued certificates of
deposit (CD) worth 18 million VND and 24 million VND for personal and corporate
customers to meet their investment demands for deposit.
“Along with savings account, CD is now one of the investment channels preferred by corporate and personal customers with a large source of finance,” VIB said.
“For investors who look for security and flexibility in the use of capital, CD will adequately meet this criterion as it is an investment channel belonging to a group of investment assets which generates a fixed income and suits medium-and-long-term investors,” it said.
According to the bank, when customers apply for an 18-month CD valued at a minimum of 1 million VND, they will enjoy a fixed interest rate of 6.68 per cent; while the a 24-month CD will bring them a fixed interest rate of 6.88 per cent.
CD holders can also resell the CD to VIB after six months from the issue date at the price equivalent to its face value and enjoy an interest rate at the reselling date based on the interest rate listed on the CD, the bank said, adding that the CD’s interest rate will be fixed during the tenor and be paid on the date of maturity or on the reselling date, and customers can apply for as many CDs as they need to invest.
Besides this, customers can also inherit, give and transfer VIB’s CD freely on the secondary market. In urgent cases, customers can use the bank’s CD as collateral for a loan at VIB and enjoy a preferential lending interest rate. Furthermore, it can also be mortgaged 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 a regular deposit account with the same tenor or a shorter tenor if the former is not available, the bank noted.-VNA
“Along with savings account, CD is now one of the investment channels preferred by corporate and personal customers with a large source of finance,” VIB said.
“For investors who look for security and flexibility in the use of capital, CD will adequately meet this criterion as it is an investment channel belonging to a group of investment assets which generates a fixed income and suits medium-and-long-term investors,” it said.
According to the bank, when customers apply for an 18-month CD valued at a minimum of 1 million VND, they will enjoy a fixed interest rate of 6.68 per cent; while the a 24-month CD will bring them a fixed interest rate of 6.88 per cent.
CD holders can also resell the CD to VIB after six months from the issue date at the price equivalent to its face value and enjoy an interest rate at the reselling date based on the interest rate listed on the CD, the bank said, adding that the CD’s interest rate will be fixed during the tenor and be paid on the date of maturity or on the reselling date, and customers can apply for as many CDs as they need to invest.
Besides this, customers can also inherit, give and transfer VIB’s CD freely on the secondary market. In urgent cases, customers can use the bank’s CD as collateral for a loan at VIB and enjoy a preferential lending interest rate. Furthermore, it can also be mortgaged 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 a regular deposit account with the same tenor or a shorter tenor if the former is not available, the bank noted.-VNA
You should also see
Semiconductor workforce development a breakthrough: PM
Human resources development in semiconductors should be considered a breakthrough in personnel training, Prime Minister Pham Minh Chinh said at a conference in Hanoi on April 24.
See more
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
Business
Top 500 fastest growing enterprises 2024 announced
A ceremony to announce the list of the top 500 fastest growing enterprises in Vietnam (FAST500) and Top 5 and Top 10 real estate - construction - building materials companies in 2024 was held by the Vietnam Report JSC in collaboration with VietNamNet newspaper on April 25.
Business
Airlines requested to increase flights during upcoming holiday
The Civil Aviation Authority of Vietnam (CAAV) has asked Vietnam's airlines to consider increasing the number of flights from Hanoi and HCM City to localities on April 27, and from localities back to Hanoi and HCM City on May 1 to meet the demand for air transportation during the April 30 - May 1 holidays.
