Saigon Thuong Tin Commercial Bank (Sacombank) has begun an issue of certificates of deposit (CDs) in Vietnamese dong at an attractive 8.5 per cent interest rate per year.

They are being issued to retail and corporate customers and have a minimum face value of VND1 million (US$43.8) and a tenor of seven years, the bank said in its statement.

Customers would get incentives like preferential lending interest rate when sing the CDs as collateral, and the CDs are transferable and can be encashed prematurely, the bank said. — VNS