Individual customers (have the full capacity for civil acts or guardian) can choose the product “Fixed term deposit with full interest paid in advance”. This is a deposit product that customers determine term of the deposits and interest is paid full in advance when deposit money.
Main features
- Term: minimum 1
month
- Currencies: VND, USD and EUR
- Minimum balance: VND 1,000,000, USD 100, EUR 100.
- Deposit: One-off deposit at counter of branch/transaction
office
- Withdrawal: One-off withdrawal of principle and interest at
counter branch/transaction office
-
Withdrawal
at maturity: entire amount of principle and interest is paid
-
Early
withdrawal: Agribank will recover the entire interest paid; demand-deposit rate
is applied for the actual balance and elapsed time.
-
Late
withdrawal: demand-deposit rate is applied for the number of days beyond the
maturity date
-
Fees:
Penalty for early withdrawal is applied (customers make withdrawal within 07
working days from the deposit date), service charges are according to the
current Schedule of fees and charges of Agribank.
-
Interest:
rates available on selected terms or by agreement with customers
Interest calculation: Interest = Principal amount x interest rate x term
-
Interest
payment: One-off interest payment in advance when deposit
Benefits:
-
Customers
can make early withdrawal
-
Balances
on deposit accounts are allowed to use as borrowing security or loan guarantee
for the 3rd person at any Agribank branches or other financial institutions.
-
Passbook
can be use by customers as financial certificate or use as security for loans
for relatives’ study/work abroad.
How to apply
Apply at Agribank branches/transaction offices, documents
included:
- Customer account information form
- Fixed term account opening request
or an agreement between customer and Agribank
- Valid ID or passport