From now until October 24, 2019, customers opening a new savings account at Vietnam International Bank (VIB) will receive three interest rate promotions, including an additional 0.1% interest rate per year, an additional 1% on all accumulated interest, and one of the most competitive interest rates on the market.
The promotion program called “Savings 1 get 3 promotions”, apply to all customers opening a new savings account or a new flexible savings plan with a minimum amount of VND 10 million and a minimum term of six months.
Customers can join the promotion at any VIB branch in the country, or at any time through Internet banking and the mobile app MyVIB. Once customers make a deposit, the additional interest will be automatically transferred to their transaction account at VIB.
By making a deposit in a VIB savings account during the promotion, customers also have the chance to win 1,000 prizes in gold and receive a waiver on their transaction fees, withdrawal fees, account management fees and IDC card maintenance fees. This is another VIB promotion for customers using the Sapphire package (all three of the following services – a transaction account, e-banking, and IDC) and the Gold package (consisting of a transaction account and e-banking, or a transaction account and IDC) between now and December 31, 2019.
VIB offers three promotions for new savings accounts @ VIB
When customers make a deposit for a savings account and enjoy the three interest rate promotions, they will receive the additional interest in their transaction account at VIB. After that, they only need to activate e-banking and receive an IDC card to get a waiver for five fees: online transfer fee, ATM withdrawal fee, counter transfer fee, account management fee, and IDC maintenance fee for the first three months.
Related: Foreigners still permitted to make term deposits at local banks
At the same time, with the additional interest, customers can choose to join a Prudential insurance plan through VIB, or keep the balance in their transaction account throughout the deposit term. With every VND 5 million in transaction account balance, customers will receive 1 chance at a lucky draw for one unit of gold. There are 166 units of gold to be won every month, and a total of 1,000 units throughout the promotion. Customers also receive 1 chance for every VND 5 million spent on an IDC card every month.
Mr Ho Van Long, Head of Retail Banking at VIB, said, “We believe that when making a deposit, customers want to choose a safe and prestigious bank, with the most competitive promotions and the best customer service. With “Savings 1 get 3 promotions”, VIB not only satisfies these needs but also tries to change the perception that a savings account is a passive way to grow money. In reality, the interest from a savings account can grow many times over if the customer has effective financial solutions.”
VIB is one of the few banks that apply attractive interest rates for savings accounts. Interest rates at VIB are among the most competitive in the market: 7.2 to 7.6% a year for terms from 6 months to under 12 months, and 7.5 to 8.0% a year for terms of 15 months and over.
VIB has one of the highest credit rating scores in Vietnam as evaluated by the credit rating business Moody’s. It is also the first private commercial bank to receive approval from the State Bank of Vietnam to apply Basel II standards for risk management.