A staff from VIB introduces the bank's services to customers. — VNS Photo

Vietnam International Bank (VIB) officially issued certificates of deposit (CD) worth VND18 million and VND24 million for personal and corporate customers to meet customers’ investment demands for deposit on February 20.

“Along with savings account, CD is now one of the investment channels preferred by corporate and personal customers with a large source of finance,” VIB said.

“For investors who look for security and flexibility in the use of capital, CD will adequately meet this criterion as it is an investment channel belonging to a group of investment assets which generates a fixed income and suits medium-and-long-term investors,” it said.

According to the bank, when customers apply for a 18-month CD valued at a minimum of VND1 million, they will enjoy a fixed interest rate of 6.68 per cent; while the a 24-month CD will bring them a fixed interest rate of 6.88 per cent.

CD holders can also resell the CD to VIB after six months from the issue date at the price equivalent to its face value and enjoy an interest rate at the reselling date based on the interest rate listed on the CD, the bank said, adding that the CD’s interest rate will be fixed during the tenor and be paid on the date of maturity or on the reselling date, and customers can apply for as many CDs as they need to invest.

Besides this, customers can also inherit, give and transfer VIB’s CD freely on the secondary market. In urgent cases, customers can use the bank’s CD as collateral for a loan at VIB and enjoy a preferential lending interest rate. Furthermore, it can also be mortgaged for loans at other banks by law.

On the maturity date of the CD, if customers do not contact VIB, the CD will be automatically converted into a regular deposit account with the same tenor or a shorter tenor if the former is not available, the bank noted. — VNS