Term Deposit Taking from Organizations
- Service
- Term Deposit Taking from Organizations
Overview
BSL takes deposits from organizations in the form of Fixed-Term Deposit Agreements (“FTDAs”) with agreed-upon interest rates between both parties. Businesses that have idle funds can open FTDAs with BSL to ensure balance and efficient utilization of capital. The deposit-taking activity of the organization is one of BSL’s capital mobilization activities authorized by the State Bank, as stated in License No. 33/GP-NHNN dated April 12, 2017. We commit to complying with legal regulations regarding deposit-taking and fulfilling obligations to businesses in terms of timely and complete payment of the signed FTDAs.
Process
Product Overview
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Details |
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Eligible entities |
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Form |
Term Deposit Agreement |
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Currency |
BSL accepts deposit agreement in VND. |
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Deposit Amount |
As agreed between BSL and the Customer from time to time. |
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Term |
From 01 month and above. |
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Interest Rate |
According to the interest rate schedule issued by BSL from time to time. |
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Principal and Interest Payment Method |
• Principal: Can be paid periodically or in full at maturity. • Interest: Can be paid periodically or in full on the value date/maturity date. The principal and interest payment method for each contract is based on the agreement between BSL and the Customer from time to time. |
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Product Features |
• Deposit agreements can be rolled over. • Partial or full early withdrawal of the principal is allowed before maturity. |
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Advantages |
Can be used as collateral at credit institutions if accepted. |
Other Information
- Agreement Template: Agreement on Time Deposit – BSL
- Deposit Inquiry: Customers can inquire about deposit information by submitting a written request for BSL’s confirmation.
- Handling of Damaged, Torn, or Lost Deposit Contracts: In case the term deposit agreements are damaged, torn, or lost, making it unusable, the customers are responsible for notifying BSL immediately in writing or via email. BSL shall not be liable for any misuse of the agreement if the notification is received after the misuse has occurred. BSL will issue a copy of agreement with its official stamp based on the customer’s request for reissuance, in accordance with BSL’s regulations.