Main features

-          Term: fixed term (from 02 to 18 years).

-          Maturity date: may be before or after the due date originally agreed upon. Maturity date of the account being calculated by formula:

-          Maturity date = maturity date on the original term +{(date of late contribution – date of early contribution)/Number of months contributed}

-          Currency: VND, USD.

-          Minimum savings amount: VND 100,000 or USD 10.

-          Savings contribution amounts, number of periods for contribution (number of months) and the amount contributed periodically are determined immediately after opening the account.

-          Deposit: monthly deposit in the form of direct deposit for the first period; the subsequent deposits may be done directly, through other people, by transfer from other accounts, transfer via Atransfer, ATM or by authorization for automatic deductions from transaction account at bank.

o        Deposit money in advance for one or more periods: The amount must be a multiplier of regular periodical deposit amount that the customer has registered but shall not exceed the total registered amount for deposit.

o        Deposit money later than periodical time: maximum 12 months.

-          Withdrawal: Customer to withdraw the entire principle and interest.

-          Withdrawal at maturity: customers enjoy all the interest that the bank has committed.

-          Early withdrawal: interest paid for actual amount and time as per prevailing regulation.

-          Late withdrawal: from the due date, interest to be reserved awaiting payment, and the interest on principal amount is paid by demand savings rate at time of payment.

o        Late withdrawal of more than 12 months: interest consists of two parts: pre-term interest to settle the amounts, the days of each period until the final period; demand interest rate applies for the balance of Study Savings Account as of the date of final period to the date of payment.

Fees

-          Early fees apply (customers close the savings account within 07 working days from the date of opening), service charges are according to the current Schedule of fees and charges of Agribank.

-          Other fees: SMS; Internet Banking and other services as per regulations.

Interest

-          Interest rate: floating interest rate plus(+) bonus interest rate of 0.1% per year. (Floating rate is the interest rate of 12 month savings term with interest paid at maturity to be adjusted in line with market rates). In cases of pre-term, interest is calculated as follows:

-          Where interest rates settled lower than that on demand savings at the time of settlement of the account, customer shall be paid with demand savings rate.

-          Interest calculation:

o        Where the accounts are due: Total interest = total amount of contribution number i* corresponding time from the date of deposit to the due date * interest of the period/12 months.

o        Where the accounts are settled before maturity: Total interest = total amount of contribution number i* corresponding time from the date of deposit to the date of settlement * early settlement interest rate/360 days.

-          Specifically: Interest = [Amount of 1st contribution * Pre-term interest (year) * Real savings time/ 360] + [Amount of 2nd contribution * Pre-term interest (year) * Real savings time/360] + ... + [Amount of ith contribution * Pre-term interest (year) * Real savings time/360].

-          Interest payment: one-off at maturity or at withdrawal.

Benefit:

-          Floating interest rate according to market rate.

-          Flexible deposit: customers can make early or late deposit for one or more periods.

-          Many forms of deposit into account (from the second period onwards): deposit by others, deposit at all other branches of Agribank, transfer via ATM, mobile phone (Atransfer) or authorization for deductions from personal account at bank.

-          Where the accounts are settled before maturity, customers shall enjoy interest rate corresponding to real savings time (at the rate prescribed by Agribank compared with 12 month savings term).

-          Account information service (Mobile Banking, Internet Banking)

Conditions of use How to apply: the same asFixed term deposit with full interest paid at maturity

How to apply

-          Customer comes to branch of Agribank and presents Customer card (if any), valid identity card or passport to register customer information.

-          In cases where register information of the beneficiary, customer needs to produce Birth Certificate or ID of the beneficiary.

-          Customer fills in the Registration form for Study Savings Plan (provided).

-          Customer completes the information on Deposit slip as prescribed by Agribank.

-          Teller at counter to check information, open the account, print the card of Study Savings Plan (in form provided).