Benefits:

Competitive interest rate.

Flexible and diversified tenors, automatically renewal at maturity.

Simple procedure, quick processing.

Be used as collateral for loans or as guarantee for third party borrowing at Indovina Bank Ltd. (IVB).

Implement at any branch and transaction office of IVB.

Checking account information via supporting utility as Internet Banking…

Target customer: Vietnamese and foreign-invested corporation.

Product features:

Interest: as interest rate for each term (periodically regulated by IVB)

Type of currency: USD

MInimum amount: USD 200

Money for time deposit is transfered from current account (to prove the legal origin).

Transaction documents: transfer application form...

Other regulations:

Method of interest payment: term-end.

For withdrawals before maturity date, interest will be paid on actual and non-term interest rate (in case the actual deposit time is less than 01month). If the actual deposit time is equal or more than 01 month, IVB will pay 80% of the interest computed on the regulated tenor immediately preceding the actual period of the time deposit (interest rate at the opening time), and prevailing current account interest for the remaining period.

On maturity date, IVB will automatically renew your deposit (principal plus interest) with the same term as the initial one and with interest rate specified at renewing time. In case, initial term is no longer applied, IVB will select the next shorter term.

Required documents:

Application for Account opening. Download here

Notarized copy of Business License/Registration (for Vietnamese corporation).

Notarized copy of Investment License (for foreign corporation).

Notarized copy of Corporate Seal Registration.

Notarized copy of Corporate tax Code.

Method of signing (if any).

Decision appointing Account holders, Deputy Director, Chief Account (if any).

Notarized copy of Passport/ID Card of signers.

Procedure:

Please contact us at any nearest IVB's branch or transaction office to open time deposits.