GOOD CHILD ACCUMULATED SAVINGS DEPOSIT

I. Introduction

the product “Good child accumulated savings deposit” is designed for customers who have children under the age of 12. Joining this product, customers can save your idle money with competitive interest rate, attractive promotion, and each child will receive a lovely piggy bank; if customer takes your child to the bank to make transactions, other pretty gifts will be offered to your child also. Moreover, through this product, parents can teach their children a lesson of thriftiness at their childhood.

II. Duration

Regularly.

III. Outstanding features

• Bringing up a thrifty sense of children at their childhood: SCB gives each of them a piggy bank and a “Good child” note (Each note has its face value of VND 5,000 to 50,000). Customers can give these notes to your children as your gifts when they are obedient or they get good marks at school…Your children then save their money in the piggy banks up to certain amount and customers can take your children to SCB to make deposit “Good child accumulated savings”. Each child will be offered a pretty gift whenever he/she comes to SCB to make transactions. Accordingly, the more “Good child” notes your children get, the more “Good child accumulated savings” account increases. Thereby, customers make deposits with attractive interest rate and also educate your children effectively.
• Attractive rate of interest: customers will enjoy high interest rate which is adjusted annually, so that your interest rate will be as equal as or higher than your initial interest rate.
• Offering cash premium annually: SCB will offer gifts to children on Children’s Day (June 1st) as follows:

  Cash premium

  =

  1%

  x

  accumulated interest as of the date of presenting gifts

  and the minimum value is VND 5,000.
• Flexible method of depositing: cash, money transfer at counters or via Internet Banking, automatic order payment.
• Closing account before maturity date is allowed flexibly
• Especially, surprising gifts will be offered to customers newly joining the product “Good child accumulated savings deposit” from May 20, 2010 to June 30, 2010.

IV. Features

• Target customer:
  • Contract holder - Customer: person who signs contract “Good child accumulated savings deposit” with SCB
  • Beneficiary: appointed by the customer and changed according to the request from the customer. The beneficiary is not over the age of 12 at the time of joining this product.
• Interest payment: interest is paid at the time of “Good child accumulated saving books” on maturity date
• Period of making deposit: any time
• Term: 1 year to 10 years (round year)
• Balance and minimum deposit: VND 100,000.
• Applicable rate of interest:
  • Interest rate of first year is fixed (original interest rate): equal to common savings interest rate of 12-month term in VND, interest paid at maturity date subject to common savings interest rate schedule announced by SCB at the time of deposit + interest premium (if available)
  • Interest rate of the second year and later is applied as follows:

    Interest rate of second year and later

    =

    Interest rate of common savings deposit in VND with 12-month term, interest paid at maturity date subject to interest rate schedule announced by SCB on contract anniversary date of the year

    +

    interest premium

    Note:
    • Interest of the second year and later is equal to or higher than the original one.
    • Interest premium: applied subject to interest premium schedule announced by SCB at the time of joining this product.
  • Method of interest calculation: interest calculated daily subject to the following formula:

    Interest paid

    =

    Deposit balance

    x

    Interest rate at each moment (%/year) 360

  • Preferential treatment of re-depositing: when your savings books come to maturity date, if customer re-deposit all the principal and interest in any accumulated savings products or in your initial product with the same term (at least from 2 year and over term), interest premium of 0.20%/pa will be offered.
  • Closing account before maturity date:
    • Withdrawing a part of funds is not allowed
    • Closing account before maturity date, interest will be calculated as follows:
      • If your savings book is maintained less than 30 days from the time of opening your account until withdrawing funds before maturity date, demand interest rate table in VND will be applied subject to interest rate schedule announced by SCB at the time of deposit.
      • If your savings book is maintained from 30 days and over from the time of opening your account until withdrawing funds before maturity date, 50% of progressive interest will be offered to customer until the time of closing the account.
    • All cash premium (if available) will be returned to SCB if customers withdraw funds before maturity date (except physical gifts)

  V. Other regulations

  • Age of beneficiary is based on the year written on Birth certificate.
  • When savings books come to maturity date, SCB will close customers’ accounts subject to requests of customers in contracts. Customers’ principal and interest will be conducted as follows:
    • Being suspended for customer’s receipt. During the suspending time demand interest rate in VND announced by SCB at the time of closing account will be applied.
    • Automatically transferred to checking accounts of customers opened at SCB.
  • Other regulations are implemented subject to the regulations on savings deposit of SCB, of Law.

Contact

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

Comparision the accumulated savings products.

Announcement applicable premium interest rate.