AUTOMATICALLY ADJUSTED INTEREST RATE

I. Duration

Since 10/06/2009

II. Participants

Corporate and individual customers deposit VND with terms of 13 months to 24 months.

III. Interest rate

See the interest rate table.

IV. Types of interest payment

Interest is paid monthly, quarterly and on maturity. Interest paid on monthly basis is applied for customers depositing VND1,000,000,000 and above.

V. Minimum deposited amount

• Corporate customer: VND 20,000,000.
• Individual customer: VND 5,000,000.

VI. Benefits

1. Adjusting interest rate of savings book / deposit contract for customers who keep their deposit until maturity

• During the term of savings book / deposit contract, customer can get equal or higher interest than original interest rate (stated in savings book / deposit contract), even in case this program’s interest rate is adjusted by SCB and becomes lower than original interest rate.
• How to adjust interest rate in this program: every 3 months, on the anniversary date of depositing, interest rate is adjusted so that it is 0.50%/ p.a higher than ordinary interest rate with the same term, the same interest payment form, following the below formula:
  
  

  Adjusted interest rate

  =

  Interest rate of Ordinary savings with the same term and interest payment form

  +

  0.50%/p.a.

  
  
  • If the adjusted interest rate is higher than the original rate, customer can get the adjusted rate for his/her savings book/ deposit contract.
  • If the adjusted rate is equal or lower than original rate, then the original is kept for customer.
  • New interest rate is applied since the interest adjusting date to the previous date to the next adjustment, or to maturity (if no adjustment is made afterwards).

2. Withdrawal before maturity

In case of withdrawal before maturity, interest is calculated as follows

• Actual number of days of savings book /deposit contract is less than 1/4 of original term: customer is paid demand interest rate (announced at the time of deposit), based on the number of actual depositing days.
• Actual number of days of savings book /deposit contract from 1/4 term to 1/2 term: customer can get 20% interest.
  
  

  Interest in case of withdrawal before maturity

  =

  Amount

  x

  Original term

  x

  (Original interest rate mentioned in savings book, contract)/12

  x

  20%

  
   
• Actual number of days of savings book /deposit contract from 1/2 term to 2/3 term: customer can get 40% interest.
  
  

  Interest in case of withdrawal before maturity

  =

  Amount

  x

  Original term

  x

  (Original interest rate mentioned in savings book, contract)/12

  x

  40%

  
   
• Actual number of days of savings book /deposit contract longger than 2/3 term: customer can get 55% interest.
  
  

  Interest in case of withdrawal before maturity

  =

  Amount

  x

  Original term

  x

  (Original interest rate mentioned in savings book, contract)/12

  x

  55%

Actual number of days of savings book / deposit contract is calculated as follows:

In which: actual nuber of days = Withdrawal date – Deposit date.

VII. Other regulations

• The policy of additional interest for customers with ages of 50 or more is still applied in this program.
• Corporate customers are not allowed to withdraw before maturity with any reasons.
• Customer can mortgage saving books/deposit contract to borrow money from SCB.
• In case of closing book before maturity, if interest payable is less than the interest customer has received before, customer should repay SCB the difference (if any).
• Other regulations which are not mentioned in this program are subject to regulations on savings deposit and demand deposit of SCB, State Bank of Vietnam.

Contact

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