This is one of the 6 long term valuable papers (more than 1 year) issued by Agribank, in which all customers including Vietnamese residents, Vietnamese living abroad, foreigners residing and legally operating in Vietnam or foreigners doing business in accordance with Vietnamese Law, can invest.
Forms:
-
Registered
certificate: the certificate which shows name of the owner.
-
Bearer
certificate: the certificate without name of the owner, Bearer certificate is
belonged to the holder.
-
Account
opening: the certificate issuing branch will open a certificate account for the
owner and give the owner a certificate confirming the certificate account.
Main features:
- Term: at least 1
year
- Currency: VND, foreign currencies.
- Minimum value: 100.000 VND, 100 USD or equivalent in other
currency.
- Maximum value: VND 1 billion, 100,000 USD or equivalent in
other currency.
Principal Payment:
-
The
principal payment shall be made to customer at the Agribank’s counter where the
certificate was issued or at any Agribank’s other counters (for the bear
certificate only).
-
Payment
at maturity: The principal shall be fully paid to customer at maturity.
-
Payment
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.
-
Prepayment:
Agribank will not apply prepayment.
Interest:
-
Interest
rate adjustment method: fixed interest rate or interest adjusted in each
period.
-
Interest
calculation: Interest = Face value* interest rate* term of certificate
-
Interest
payment: interest is paid together with principle at maturity
Investment
method:
The
customer can buy the certificate of long term deposits with full interest paid
at maturity at the counter of Agribank’s branches.
(Information
about the address of Agribank branches and transaction offices could be
searched here).