Benefits:

According to Indovina Bank Ltd. (IVB) preferential policy for time deposits, customers can  switch to a new term different from initial one on the maturity day.

Be used as collateral for loans or as guarantee for third party borrowing at IVB.

Verification of customer’s finance situation for purposes of travelling, studying abroad, etc.

Implement at any branch and transaction office of IVB.

Check account balance easily via Internet Banking…

Target customers:

Vietnamese and foreign individuals.

Product features:

Deposit: customer can deposit US Dollars in cash (must be certificated by customs or proven legal origin) or transfer from a current account.

Withdrawal: in case of withdrawal prior to or on maturity, total account balance must be withdrawn.

Fund transfer: customers can remit money to your time deposit account from your current account at IVB or other banks.

Other regulations:

Minimum amount: USD 200.

Method of interest payment: term-end.

For withdrawals before maturity day, interest will be paid on actual and non-term interest rate (in case the actual deposit time is less than 01 month). If the actual deposit time is equal or more than 01 month, IVB will pay 80% of the interest computed on the regulated tenor immediately preceding the actual period of the time deposit (interest rate at the opening time), and prevailing current account interest for the remaing period.

On maturity day, IVB will automatically renew your deposit (principal plus interest) with the same term as the initial one and with interest rate specified at renewing time. In case initial term is no longer applied, IVB will select the next shorter term.

Required documents:

Application for Account opening. Download here

Personal documents:

Vietnamese: ID card or Passport (original or notarized copy).

Foreigners: Passport, Visa in validity.

Other documents requested by IVB.

Procedure:

Please contact us at any nearest IVB's branch or transaction office.

After handling all required documents, customer comes to counter for deposit or remittance and gets the Certificate of time deposit.