The Military Commercial Joint Stock Bank (MB) has officially issued the identified certificates of deposit for the first phase in 2010 with total value of 1.5 trillion dong for individual and corporate customers, starting from March 15, 2010.
The depositors will receive large benefits when buying the bank's new certificates of deposit because the bank has offered attractive interest rates, together with bonus rates for qualified customers. Especially, the interest rates can be adjusted to increase if the State Bank of Vietnam decides to raise the basic interest rates. However, if the basic interest rates announced by State Bank of Vietnam drop, the applied interest rates for depositors will stay unchanged. Military Bank is the first bank in Vietnam to adjust the interest rates in accordance with SBV's basic interest rate frame.
The certificates of deposits will have terms of six, nine and 11 months with current interest rates of 10.499 percent per year. In addition, the bank will offer bonus interest rates of 0.6-0.7 percent per year for individual customers and 0.3-0.5 percent per year for corporate ones.
The first phase identified certificates of deposit will be issued from March 15 to May 13, 2010.
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