Vietnam: A passbook must detail the interest rate for savings deposits

Le Hai

09:25, 21/01/2019

This is a content specified in Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam on savings deposits, issued on December 31, 2018.

According to Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam, passbook or bankbook (hereinafter referred to as passbook) must detail the interest rate and interest payment method. Moreover, a passbook must have at least the following:

- Credit institution’s name and seal; full name and signature of the bank teller and the legal representative of the credit institution;

- Full name, number and date of issue of identity proof of the depositor or all depositors (in case of a joint savings deposit) and information of the depositor’s legal representative if the savings deposit is made by the legal representative;

- Number of passport; amount; currency; deposit date; maturity date (applied to term savings deposit); deposit term;

- Methods offered to depositors to access their savings deposits;

- Actions to be taken in a case where a passbook is crumpled, torn or lost.

\View more details at Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam, effective from July 05, 2019.

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