Vietnam: Savings deposits may be taken and paid out online

12:20, 17/01/2019

This is a featured content specified in Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam on savings deposits.

According to Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam, the credit institution shall take and pay out savings deposits at legal transaction offices under its operation network, except for taking and paying out online savings deposits.

Also according to Circular No. 48/2018/TT-NHNN, as for a passbook, the credit institution may take and pay out saving deposit at the transaction office which issued such passbook or any of other transactions offices. If a credit institution takes and pays out saving deposits in multiple transaction offices, it must ensure that saving deposits are taken and paid out accurately and safely as to the depositors and the credit institution’s operation.

Besides, the credit institution must provide depositors with a method of access to their saving deposits.

View savings deposit interest rate at Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam, effective from July 05, 2019.

- Thanh Lam -

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