Short term valuable papers are papers with term of less than one year, consisting of 4 items:
1. Bill with full interest paid in
2. Bill with full interest paid at
3. Certificate of short term deposits, bills,
certificate of short term deposits with full interest paid in advance.
4. Certificate of short term deposits,
bills, certificate of short term deposits with full interest paid at
- Term: 3 months,
6 months, 9 months, less than 12 months.
- Currency: VND, foreign currencies, gold (promissory notes)
- Minimum and maximum face value: to be determined by
Agribank at each issuance.
principal payment shall be made one time to customer at the counter of
Agribank’s branch where the valuable paper is issued.
at maturity: The principal shall be fully paid to customer at maturity.
after maturity: If at maturity, the customer will not receive the principal
payment, Agribank will not renew for another term, the principal shall bear the
current demand interest rate for the period after maturity. Interest shall be
calculated and paid to customer upon his/her receipt of principal payment.
Agribank will not apply prepayment.
rate adjustment method: fixed interest rate stated on the papers.
calculation: Interest = Face value* Monthly interest rate* Term
As for Bill with full interest paid in advance:
sells the valuable paper at discounting price (interest will be calculated and
deducted from face value so that the price plus interest equal to the face
As for Bill with full interest paid at maturity:
shall be paid at maturity together with principal
be used as borrowing security or loan guarantee for the 3rd person at any Agribank
branches or other financial institutions.
transfer ownership, ownership automatically transferred to the legal heirs
residents, Vietnamese living abroad, foreigners residing and legally operating
in Vietnam or foreigners doing business in accordance with Vietnamese Law.
customer can buy the certificate of short term deposits at the counter of