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1. Introduction

VIB Bank’s E-Saving Account allows customers to earn higher interest rates on their savings. An automatic two-way transfer is made from the E-Saving Account to the current account in order to ensure liquidity and earn more interest.

Customers register a fixed minimum balance in their current account. When the balance exceeds this minimum, the system automatically transfers the excess to the E-Saving Account so that customers earn a higher interest rate. Conversely, when the actual balance on the current account falls under the minimum, the system automatically transfers funds from the E-Saving Account to ensure the minimum balance is retained.

2. Currency

Vietnam dong (VND)

3. Minimum Balance

-          Minimum Balance: VND100,000

-          If the E-Saving Account’s balance falls less than VND 100,000, customer must pay the maintenance charge quoted in VIB Bank’s fee schedule.

-          The minimum balance in the current account is VND2 million.

4. Banking hours

Customers can deposit and withdraw during VIB Bank’s working hours.

5. Deposit levels for calculating interest rates

-         Up to VND2 million

-         VND2 million to VND5 million

-         VND5 million to VND10 million

-         VND10 million to VND50 million

-         VND50 million to VND100 million

-         VND100 million to VND500 million

-         VND500 million to VND1 billion

-         Over VND1 billion

6. Interest Rates

In accordance with VIB Bank’s interest rate schedule

7. Opening an E-Saving Account

-         For customers with an account at VIB Bank: Customers must present their identity card or other legal identity papers and complete an application form.

-         For customers that do not have an account at VIB Bank: Customer must present their identity card or other legal identity papers and complete an application from to open a current account and an E-Saving Account.

8. Settlement

Customers must present their identity card, passport or other legal identity papers then complete a form to close their E-Saving Account.

9. Depositing and withdrawing money

There are two ways customers can deposit money into their E-Saving Account:

§            Directly at any VIB Bank Branch;

§            Transfer from another account into the E-Saving Account via ATM, E-Banking, or Point-of-Sale (POS) machines.

There are also two ways customers can withdraw money from the E-Saving Account:

§            Directly at any VIB Bank branch or via ATMs or POS machines;

§            Transfer from the E-Saving Account to another account via ATM, E-Banking or POS machines.

10. Automatic transfer between the E-saving Account and current account

Customers register to access automatic transfers between their E-saving Account and their current account. When customers wish to withdraw cash from the current account but the amount exceeds the balance, the system automatically transfers the excess from the E-Saving Account provided that this amount does not exceed the balance (excluding the minimum balance).

11. Deposit and withdraw fee for E-saving Account

In accordance with VIB Bank’s fee schedule.

12. Forms

Form No 01/TKESAVINGKKH-VIB/2008: registration for opening E-saving Account.

Form No 02/TKESAVINGKKH-VIB/2008: registration for closing E-saving Account.