• Tiếng Việt

Terms and conditions for savings

1. Customers:

- Individuals Vietnam from 15 years of age or older with full civil capacity prescribed by the Civil Code.

- For persons under 15 years of age, incapable or limited capability as prescribed by law, there must be accompanying guardian or legal representative.

- Vietnamese citizens are allowed to deposit savings in Vietnam Dong, resident Vietnamese citizens may deposit savings in foreign currencies.

2. Forms of savings deposit:

- Demand savings deposit

- Term and other savings deposits are listed at branches, transaction offices and on https://kienlongbank.com .    

3. Interest rate, method of calculating interest and paying interest:

- Interest rate : determined by Kienlongbank from time to time and by product.

- Interest is calculated by the following formula: 

Interest = Deposit amount x Actual days of deposit x annual rate (%) / 365 days.

- Interest payment method: beginning of term / monthly / quarterly / 6 months / by year / term-end or others as agreed between Kienlongbank and customers.

4. Procedures for deposit and payment of savings:

a. Procedures:

- Customers visit Kienlongbank's branch or transaction office and present valid verification document (ID card or Citizen card or Passport or birth certificate for individual under 14 years old) or document verifying information of legal representative, guardian (if applicable).

In case of joint savings (co-owner), all co-owners shall visit Kienlongbank’s counter.

- Minimum deposit amount:

  • VND: minimum VND 500,000.
  • Foreign currency: minimum 50 foreign currency units.

- Kienlongbank shall issue savings cards with QR code after full implementation the required procedures.

- For depositing additional money into the issued savings card:

  • In case of cash deposit: Customer presents the issued Savings Card and performs the deposit procedure, Kienlongbank shall update the new amount and return the Savings Card to customers.
  • If transfer from a checking account: it shall be transfer from customer own checking account.

b. Savings deposit payment procedures:

- Customers present the intact, not being crumpled, torn, erased Savings Card and ID documents of customer or the legal representative or guardian (if applicable) for savings payment procedures as prescribed by Kienlongbank from time to time.

- In case of early withdrawal by agreement, customers are entitled to earn early withdrawal interest rate as prescribed by each savings products.

- Savings deposit can be paid in cash or transferred to a current account as agreed between Kienlongbank and depositor.

- For odd foreign currencies, Kienlongbank will make payments in VND according to the buying exchange rate of transfer foreign currency at payment time.

c. Regulations on due deposit payment in special cases:

- If deposit date is the last day of month, the due date will be last day of due month (for example, customers deposit on February 28 with 01 month term, the due date will be March 31).

- If payment due date coincides with public holiday  by law, payment of savings principal and interest shall be made on last working day before such public holiday. 

d. Payment before maturity:

- Customers can terminate the deposit before maturity, partial withdrawal is not applicable;

- The applicable interest rate is the lowest demand interest rate at withdrawal time for actual number of deposit days;

- Amount of interests paid periodically (if any) will be recovered by offsetting in original deposit amount before payment to customers.

5. Deposit term extension:

- On due date, if the customer does not terminate and there is no other agreement, Kienlongbank will automatically add interest into the principal and renew total amount for a new deposit term;

- The renewal term corresponds to the original term. In absence of that term, Kienlongbank will switch to the adjacent shorter or longer term;

- The prevailing interest rate is automatically applied to the renewal term.

6. Deposit information verification:

Customers look up and check information of savings deposit (Savings card number, account number, owner, Savings card issuer, sending date, due date, interest rate, current balance) as follows:

- Use applications to read QR Code (such as Zalo, Facebook, Scan Barcode ...) on mobile phones to scan the QR Code printed on savings cards.

- Access https://tracuu.kienlongbank.com

- Visit Kienlongbank transaction counters.

7. Handling of crumpled, torn or lost savings card:

- Kienlongbank will still make payment to the customer if the savings card is slightly crumpled/torn/damaged and does not affect any critical information. In other cases, Kienlongbank will re-issue the savings card to customers after confirming the necessary information.  

- In case of loss, customers should contact Kienlongbank (call center 1900 6929 or Kienlongbank's transaction offices nationwide) for guidance on reporting and re-issuance of savings card as prescribed.  

After 07 working days from the notice date, if there is no dispute, Kienlongbank shall re-issue the savings card (if requested by the customer). In case there is no need to re-issue the Card, customers use the Balance Confirmation to finalize the deposit.

In case customers find their savings card after reporting loss, customers need to present the found savings card so that Kienlongbank can restore all transaction rights. In case of reissuing card, the old card shall be collected by Kienlongbank to avoid risks.

8. Authorization:

- The owner can authorize in writing another person to use the deposit in accordance with regulations at all Kienlongbank's branches and transaction offices;

- The authorized person has the same rights and obligations as the owner of the deposit (except for the mortgage loan);

- Authorization procedures are carried out at Kienlongbank or at agencies with notarization/authentication functions;

- The authorization expires when the authorization period expires; authorization work has been completed; the principal or an authorized person dies, is declared incapable of civil acts by the Court, has limited civil act capacity, is missing or has died; in other cases as prescribed by law;

- When making a transaction, an authorized person presents authorized Savings Card (original) and required ID information.

9. Transfer of ownership:

- The owner is entitled to transfer the deposit ownership in writing to another person in accordance with regulations at all Kienlongbank's branches and transaction offices;

- The owner shall have no right over the deposit from the completion of procedures;

- The transfer recipient shall present the Savings Card (original) and ID information to perform transactions.

10. Pledge of savings:

- Deposits can be used as loan collateral at Kienlongbank or other credit institutions, if accepted;

- Kienlongbank has right to waive liability if blockade request for is a pledge or mortgage at another credit institution without confirmation of Kienlongbank and the deposit holder on request for blockade.

11. Other regulations:     

- Foreign individuals are not allowed to deposits savings

- If customers cannot read, write or see, they will send money by asking others to accompany them to write for, read for them, customers affix fingerprints to replace sample signatures;

Kienlongbank may adjust the deposit regulations in accordance with Kienlongbank's regulations and law provisions from time to time. The adjusted regulations will be publicly announced on Kienlongbank's official website ( https://kienlongbank.com ) and listed at Kienlongbank's transaction offices.