Schedule for Lunar New Year holiday in 2025 for Vietinbank in Vietnam

Schedule for Lunar New Year holiday in 2025 for Vietinbank in Vietnam​ (Image from the internet)

Schedule for Lunar New Year holiday in 2025 for Vietinbank in Vietnam

According to the notice from Vietinbank, the Lunar New Year holiday schedule is as follows:

- Holiday period:

From January 25, 2025 (equivalent to the 26th day of the Twelfth lunar month of the Year of the Dragon) to the end of February 2, 2025 (equivalent to the 5th day of the First lunar month of the Year of the Snake).

- Return to work:

Monday, February 3, 2025 (equivalent to the 6th day of the First lunar month of the Year of the Snake).

Throughout the holiday, the bank will ensure the provision of full transactional services through electronic banking systems and ATMs operating 24/7. Customers can utilize these channels to perform transactions such as transfers, payments, or withdrawals without interruption.

Regulations on banking operations of commercial banks in Vietnam

According to Article 107 of the Law on Credit Institutions 2024, the specific banking activities of commercial banks include:

- Accepting demand deposits, term deposits, savings deposits, and other types of deposits.

- Issuing certificates of deposit.

- Providing credit in the following forms:

+ Loans;

+ Discount, re-discount;

+ Bank guarantees;

+ Issuing credit cards;

+ Domestic factoring; international factoring for banks permitted to conduct international payments;

+ Letters of credit;

+ Other forms of credit provision as regulated by the Governor of the State Bank.

- Opening payment accounts for customers.

- Providing payment instruments.

- Offering payment services via the following accounts:

+ Executing domestic payment services including checks, payment orders, payment authorization, collections, collection authorization, funds transfer, banking cards, collection services, and disbursement services;

+ Executing international payment services upon approval in writing by the State Bank; other payment services as regulated by the Governor of the State Bank.

Current regulations on interest rates for VND deposits by organizations and individuals at credit institutions, foreign bank branches in Vietnam

- Credit institutions apply interest rates for VND deposits by organizations and individuals not exceeding the maximum interest rate for demand deposits, term deposits of less than 1 month, term deposits from 1 month to under 6 months as decided by the Governor of the State Bank of Vietnam from time to time and for each type of credit institution.

- Credit institutions apply interest rates for VND deposits for terms of 6 months or more by organizations and individuals based on market capital supply and demand.

- The maximum interest rate on VND deposits as stipulated in Circular 48/2024/TT-NHNN includes all promotional expenses in any form, applicable to the end-term interest payment method and other interest payment methods converted into the end-term interest payment method.

- Credit institutions publicly list VND deposit interest rates at legal transaction locations within the credit institution's operating network and post them on the institution's website (if any). Credit institutions receiving deposits must not offer promotions in any form (by money, interest rates, and other forms) that do not comply with legal regulations.

(Article 3 Circular 48/2024/TT-NHNN)

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