REGULATIONS OF DEPOSIT TRANSFER

This product allows all individual deposit customers at SCB to fully / partly transfer their saving book / promissory notes / certificate of deposit issued by SCB to any other persons, and SCB will confirm such a transfer.

I. Duration

A regular product.

II. Participants

• Transferor: individual deposit customers having saving book / promissory notes / certificate of deposit issued by SCB.
• Transferee: any persons qualified to make fixed deposit as per regulations of Vietnamese law and as per SCB’s regulations on fixed deposit.
• Transferred product: saving book / promissory notes / certificate of deposit issued by SCB with the following features
  • Immature.
  • Type: fixed deposit.
  • Forms of interest payment: paid in advance, periodically, at maturity date.
  • Not belong to Accumulative Saving Deposit or products with flexible withdrawal (for example, the product “Partial withdrawal with escalated interest”)
• New owner will have the same benefits as those of old owner when saving book / promissory notes / certificate of deposit comes to maturity.

III. Types of transfer

• Full transfer: deposits with interest paid in advance, periodically, at maturity date.
• Partial transfer: deposits with interest paid in advance, , at maturity date.

IV. Number of transfers

• Full transfer: it can made only once with a deposit
• Partial transfer
  • Original owner can makes many partial transfer with his/her deposit.
  • Transferee is not allowed to transfer the amount which he/she has been transferred to.

V. Place of transfer

• At the SCB branch / transaction office where deposit (SCB’s saving book / promissory notes / certificate of deposit) was issued.

VI. Features

• The potential transfer / transferees should find each other and negotiate the price for transfer on their own. SCB only acts as a medium and confirms the transfer transaction and collect transfer charge (currently this service is free of charge).
• Certain features of saving book / promissory notes / certificate of deposit like term, interest payment form, interest rate etc.. will remain unchanged in the transfer.
• With the transfer of SCB’s kinds of deposits, both transfer and transferee can get benefit from the transaction: the transferee can get higher interest compared to that he might get if entering a new deposit; meanwhile the transfer also can get higher interest compared to that he might get in case of withdrawal before maturity.
• The offering of transfer can be made through any channel of communication. SCB provides one channel for this purpose, i.e. a forum in our bank’s website. In this forum, customers can communicate for transfer their deposits, provided that forum’s regulations must be complied with. SCB can support and consult transferees about features of SCB’s deposit via hot line number 08 3 9202 222, email callcenter@scb.com.vn or Q&A column in website http://www.scb.com.vn

VII. Other regulations

• For the purpose of this product, SCB only confirms the transfer between transfer and transferee.
• SCB has no responsibilities for any negotiations between transfer and transferee.
• Any disputes arise between transfer and transferees are not related to SCB.
• The transfer and the transferee should come to SCB’s offices to make the transfer procedure.
• Other regulations relating to the deposit transfer follow SCB’s regulation on transfer of saving book / promissory notes / certificate of deposit
• All matters concerning saving book / promissory notes / certificate of deposit transferred are subject to regulations on fixed deposits of SCB and State Bank of Vietnam.