GENERAL REGULATIONS OF SAVINGS DEPOSIT

I. Deposit Amount For Each Savings Passbook

• For savings depositing at SCB, customers shall only need to maintain a minimum balance of VND100,000 or USD20 or equivalent value when savings depositing in other free convertible foreign currencies.
• SCB shall not limit any maximum deposit amount for each savings passbook.
• In case customers have foreign currencies but they want to deposit in VND, buying foreign exchange rate (for cash or T/T respectively, at the time of transaction) will be applied.

II. Interest rate of savings deposit

• Non-term savings deposit: current interest rate shall be applied for the remaining amount of savings deposit.
• Term savings deposit: interest rate announced by SCB at the time of opening savings deposit shall be applied until the maturity date. In case floating interest rate is applied for a savings, changes on interest rate are subject to the terms and conditions of this specific kind of savings.
• Interest rate of savings deposit will be regulated in month basic (30 days) or year basic (360 days).

III. Interest payment method

• Non-term savings deposit: interest is accrued to the principal on monthly or quarterly basis, or on closing date of account.
• Term savings deposit: interest might be paid in advance, periodically or on the maturity date as per stipulation of SCB for each savings deposit product.

IV. Collecting and paying savings deposit at customers’ home

If savings depositors meet all stipulated requirements, SCB will provide the service of collecting and paying saving deposit at customers’ home.

V. Charges

Charges relating to savings deposit will be subject to SCB’s fee schedule released at the time of transactions.

VI. Withdrawal prior to maturity date

• If principal withdrawal prior to maturity date is permitted, customer must pre-advise about withdrawal prior to maturity date as stipulated by SCB.
• If principal withdrawal prior to maturity date is not permitted, customer can withdraw its principal prior to maturity date only in cases of force majeure. Customer will be charged a penalty as SCB’s stipulation.
• Interest rate applied in withdrawing principal prior to maturity date as stipulated by SCB on each specific savings deposit product.

VII. Re-deposit

• At maturity date, if customer does not withdraw its principal and interest and there is not any requirement else from customer, principal accrued interest paid thereon will be automatically re-deposited for the same term
• In the event, customer, registered re-depositing for only principal, does not withdraw its principal and interest at maturity date, SCB will do followings:
  • Interest thereon will be temporarily put aside into payable account or into non-term savings account, or demand account of customer automatically.
  • Principal will be automatically re-deposited for the same term.
  In case, at maturity date, SCB does not mobilize funds with the same term, principal will be re-deposited for the lower next term.
• For the preferential savings deposit products, principal and interest paid thereon will be re-deposited in form of regular savings deposit.
• After principal and interest paid thereon re-deposited but prior to new maturity date, customer’s request for withdrawing principal or interest or both of them will be subject to the regulations of withdrawal prior to maturity date.

VIII. Maturity date is also a holiday

Deposit payment will be on the working day right after or before (if requested) holiday. Interest paid to customer will be calculated up to the actual date of withdrawal and basing on the interest rate specified in the savings passbook.

IX. Authorization procedure

• Customers fulfill SCB’s authorization form and signed by SCB’s authorized persons or by local government.
• The original authorization form will be hold by SCB when customer’s authorized person makes the first transactions at any SCB’s unit.

X. Pledging savings passbook

• Savings passbook issued by SCB is able to be used as collateral at SCB’s units and other credit institutions.
• Pledging savings passbook at SCB will be subject to applicable regulations of SCB.

XI. Transferring of savings passbook

Savings passbook owner is entitled to transfer (assign or give) its title on savings passbook to another one. The transfer must be registered with SCB.

XII. Inheritance of savings passbook

• The owner or syndicated owners was died or declared to go missing or lost their own civil behavior capacity, the inheritor pursuant to testament or the legal inheritor shall be paid the total value of the savings passbook if presenting the following documents:
  • Savings deposit passbook issued by SCB
  • Death Certificate, Missing Certificate, or Certificate of losing civil behavior capacity (certified copy by the authorities).
  • Legal testament or decision of court (certified copy by the authorities) or confirmation of inheritors certified by local authorities in case of inheriting in accordance with laws.
  • Identity card or passport of the inheritor (certified copy by the authorities).
• In the event, there are two or more inheritors, besides the above documents, the inheritor who will be on behalf of other inheritors to deal with SCB, must present additionally letter of attorney by other inheritors in whole (the letter must bear signatures of all inheritors and be certified by the authorities).
• In the event, the savings passbook owner has no inheritor, the savings deposit will be settled subject to the laws.

XIII. Savings passbook lost or damaged

• In case, customer’s savings passbook is got wet, worm-eaten due to objective reasons but is still recognized by SCB, SCB will make a report specifying the status of this savings passbook, revoke this savings passbook and issue a new one stamped “2nd issuance” to customer.
• In case, customer’s savings passbook is lost or fired, the savings passbook owner must inform immediately to any SCB’s unit and fulfill an SCB’s form of losing savings passbook which be certified by SCB or by the local authorities (People’s Committee or police station) and sent to SCB for keeping track and payment.
  After 10 days from the date of loss (non-term saving deposit) and from the maturity date (term savings deposit), if there is no dispute arising, SCB will make payment to depositor. When declaring savings passbook lost, SCB will issue a new one stamped “2nd issuance” to customers as requested.

XIV. Commitment of SCB

SCB commits customer’s savings deposit balance kept in confidential, to pay customer’s principal and interest thereon fully and on time.

Contact

Fore more information, please contact any of our branches / transaction offices, or our Customer Service Centre, phone: (08) 39202222.