• The Bank: refers to Vietnam International Commercial Joint Stock Bank (VIB).
• The deposit agreement is the online fixed-term deposit agreement between the Customer and VIB on VIB Checkout. The deposit agreement shall become effective immediately after: (i) the Customer completes the registration and opens an online fixed-term deposit on the VIB Checkout system, and (ii) VIB's system has completed the transfer of funds from the designated payment account of the Customer to the opened Fixed-Term Deposit Account. For The deposit agreement opened after the VIB system's cutoff time (which is the period during which the VIB system finalizes data to roll over to the next day, as determined by VIB for each period) and before 24 hours on the same day, the effectiveness of the deposit agreement will be recorded on the following day after the date of opening the online fixed-term deposit.
• Owner: is the party currently owning the online fixed-term deposit resulting from the signing of the deposit agreement with VIB or the receipt of the transfer of ownership rights to the online fixed-term deposit.
• VIB Checkout: Mobile Banking Services for Micro-Enterprise Customers and Individual Business Owners of VIB.
• A fixed-term deposit account: is a type of account opened by VIB for customers, and customers have ownership rights over the balance of the fixed-term deposit in this account.
• Payment account opened at VIB: Excludes the joint payment accounts of customers and other individuals/organizations.
• Vietnamese Resident Organizations: (1) Non-banking economic organizations established and operating in Vietnam, including their overseas representative offices; (2) State agencies, armed forces units, political organizations, socio-political organizations, socio-political-professional organizations, social organizations, socio-professional organizations, social funds, and charitable funds operating in Vietnam, including their overseas representative offices; or (3) Diplomatic missions, consular offices, and international organization representative offices of Vietnam abroad.
• Blockade: is the act of prohibiting the execution of transactions, including but not limited to, (i) withdrawal of principal; (ii) transfer of ownership rights (including but not limited to, transfer, gift, etc.); (iii) use as collateral (including but not limited to, pledge, etc.); and (iv) other transactions as required for lockdown. VIB only locks interest when there is a proper lockdown request from the competent authority in accordance with the legal provisions.
• Transaction suspension: is when VIB does not execute any transactions related to the Customer's online fixed-term deposit for a maximum of 03 working days from the date this measure is applied and serves as a temporary lockdown before an official decision is made by the competent state authority.
• Related parties of the owner: include but are not limited to individuals/organizations established, legal representatives, Directors or General Directors, Chief Accountants, or persons in charge of accounting (if any), including individuals/organizations authorized/owned by these individuals/organizations to benefit and other entities as stipulated by VIB from time to time.
• The list of anti-money laundering entities as stipulated by VIB from time to time.

• The term is calculated from the Deposit Date (the date the Fixed-Term Deposit Agreement becomes effective) until the end of the Maturity Date.
• In cases where the Maturity Date falls on the 29th, 30th, or 31st day of a month, and the respective month does not have that specific day, the Maturity Date will be the last day of that month.

• Principal and interest payments are made through transfers to the owner's payment account at VIB.
• The Customer is responsible for maintaining the Deposit Payment and Receipt Payment accounts during the effective period of the Fixed-Term Deposit Agreement and for the legality of the deposit amount at VIB.
• In cases where the owner's payment account is locked/temporarily closed/changes its status (according to VIB's regulations for each period), VIB will still make principal and interest payments to the owner's payment account at the maturity date, unless specified/agreed otherwise, or the request for lockdown/temporary closure of the payment account does not permit it, or the change in the payment account's status does not allow it as per VIB's regulations for each period.
• In case VIB cannot make principal/interest payments according to the Fixed-Term Deposit Agreement due to (i) the payment account being closed; or (ii) a specified/agreed request for lockdown/temporary closure of the payment account; or (iii) the payment account's status change as per VIB's regulations for each period, VIB shall be exempt from all responsibility for this reason and shall hold the principal and interest with a zero deposit interest rate during the holding period until (i) the Customer designates another Receipt Payment account opened with VIB; or (ii) the specified/agreed request for lockdown/temporary closure of the payment account expires; or (iii) the payment account is restored to a status allowing transactions as per VIB's regulations for each period.
• VIB reserves the right to refuse/delay transactions for principal/interest payment under the Fixed-Term Deposit Agreement without having to pay any additional interest, penalties, or compensation to the owner in the following cases: (i) The online fixed-term deposit is in a blockade/delayed transaction status; (ii) The owner violates commitments or agreements in the Fixed-Term Deposit Agreement; (iii) Upon written request from a competent state authority; (iv) When the owner/relevant entity of the owner is on the list of anti-money laundering entities or when VIB has reason to believe that the requested transaction is related to criminal activities; (v) Other cases as stipulated by relevant laws.
• VIB is exempt from all responsibility when exercising the right to refuse/delay transactions and holds the principal and interest with a zero-deposit interest rate during the holding period.
• In case that the owner is dissolved/bankrupted/terminates operations in accordance with legal regulations, VIB shall make principal and interest payments according to the relevant legal provisions.

• The interest payment period is determined at the request of the Customer right at the Deposit Date of the Fixed-Term Deposit Agreement and remains unchanged until the termination of the Fixed-Term Deposit Agreement:
  • Monthly: Interest is paid regularly on the same Deposit Date of each subsequent month within the term. This interest payment period only applies to terms of 6 months or more.
  • Quarterly: Interest is paid regularly on the same Deposit Date every 3 months within the term. This interest payment period only applies to terms that are multiples of 3.
  • At the end of the term: Interest is paid on the Maturity Date.
• The interest payment period is determined at the time of opening the Fixed-Term Deposit Agreement and remains unchanged until the termination of the Fixed-Term Deposit Agreement.
• Periodic interest payments will be automatically transferred to the Payment Account.
• If the Interest Payment Date falls on the 29th, 30th, or 31st day of a month and the respective month does not have that specific day, VIB will make the payment on the last day of that month.

• The interest rate is fixed for the interest payment period.
• The annual interest rate calculated on a 1- year basis is 365 days.
• Non-term interest rate is applied in cases where the Fixed-Term Deposit Agreement is terminated before its maturity date.

• Term interest rate is calculated according to the following formula:
  Interest = Principal amount x Interest rate x Actual number of deposit days of terms or interest payment period/(365)
  • For interest rate payment period at the end of term: the actual number of days of term is counted from the deposit date, or the latest renewal date, to the maturity date. The starting date of interest calculation is the first day of tenor, do not calculate interest on due date.
  • For interest payment method monthly, quarterly: the actual number of interest payment periods is counted from the deposit date, or the date of the latest interest payment period, to the interest payment date. The starting date of interest calculation is the first day of an interest payment period, do not calculate interest on interest payment date.
• Non-term interest is calculated according to the following formula:
  Interest = Principal amount x Non term interest rate x Number of non-full-term interest day/(365)
  • The non-term interest rate is applied based on the deposit interest rate at the time of premature termination of the Fixed-Term Deposit Agreement.
  • The number of non-full-term deposit days is calculated from the deposit date, or the latest renewal date to the termination before maturity date. The starting date of interest calculation is the first day of a tenor, do not calculate interest on the termination before maturity date.

• Increasing the principal amount during the deposit term is not permitted.
• Partial withdrawal of the principal amount during the deposit term is not allowed.

• Customers choose the handling method at maturity directly on the Deposit Date of the Fixed-Term Deposit Agreement as follows:
  • Principal and interest are returned to the Customer's Payment Account at VIB on the Maturity Date.
  • Interest is returned to the Customer's Payment Account at VIB, and the principal is automatically extended to a new corresponding term (renewed) for the initial deposit term.
  • Interest is reinvested into the principal, and the deposit is automatically renewed for a new corresponding term.
• In case that, on the Maturity Date, VIB cannot renew the deposit term that the Customer had previously deposited, or the deposited amount according to the Fixed-Term Deposit Agreement does not meet the conditions for renewal as per legal regulations, VIB will transfer the principal and interest (if any) to the Customer's Payment Account. When the principal and interest have been transferred to the Customer's Payment Account, the Fixed-Term Deposit Agreement automatically expires.
• If the principal and interest are currently under lockdown/delayed transaction when this Fixed-Term Deposit Agreement matures, VIB will continue to hold the principal and interest with a zero-interest rate and maintain the blockade/delayed transaction until the principal and interest are released/terminated according to the regulations/agreements regarding lockdown/delayed transactions.

• The deposit agreement can only be terminated prematurely when the Fixed-Term Deposit is not subject to lockdown/delayed transactions or used as collateral.
• The deposit agreement can be terminated prematurely or at its scheduled maturity date through VIB Checkout.
• Customers can choose their VIB Payment Account to receive the principal and interest at the time of premature termination.
• The interest rate applied in the event of premature termination of the Fixed-Term Deposit Agreement is VIB's non-term interest rate in effect at the time of premature termination. Interest payments made during previous interest payment periods (if any) will be recovered by automatically offsetting them against the principal at the time of premature termination.

Joint ownership arrangements are not applicable to Online Fixed-Term Deposits.

• The owner has the right to transfer all rights and obligations arising from the deposit agreement to a third party (Receiver of Ownership Rights) who meets the conditions specified in article 2 above.
• The owner is not allowed to transfer ownership rights when the Online Fixed-Term Deposit is subject to blockade/delayed transactions or used as collateral.
• Ownership transfer will be conducted at a VIB branch/transaction office based on the agreement between the owner and the Receiver of Ownership Rights, and it requires confirmation from VIB.

The Online Fixed-Term Deposit is allowed to be used as collateral for loans/credit provided by VIB or other credit institutions if approved by the respective credit institution.

• VIB has the right to lockdown the entire principal amount of the Online Fixed-Term Deposit in the following cases: 
  • When the owner requests a lockdown in accordance with VIB's regulations. 
  • When there is a written request for lockdown from a competent authority in accordance with the law.
  • When there are suspicions that the customer or their transactions are related to the proliferation and financing of weapons of mass destruction.
  • Other cases as stipulated by the law and the terms and conditions of the Online Fixed-Term Deposit for micro-enterprise customers.
• VIB reserves the right to refuse to lockdown the Online Fixed-Term Deposit if: (i) the lockdown request does not have the owner's confirmation; or (ii) the content of the lockdown request is not in accordance with VIB's product regulations or is detrimental to VIB.

• Transaction delay for the Online Fixed-Term Deposit is implemented in the following cases:
  • When the owner or related party is on the list of individuals/entities subject to anti-money laundering regulations as stipulated by VIB.
  • When VIB has reason to believe that the requested transaction is related to criminal activities, including transactions conducted by individuals convicted under the provisions of criminal procedure law that require execution and assets involved in the transaction belong to or are under the ownership or control of the convicted person; transactions related to organizations or individuals engaged in activities related to terrorist financing.
• Transaction delay is applicable to the transactions specified in VIB's Customer Identification and Transaction Regulations for anti-money laundering and counter-terrorism financing in each period.

• Customers commit to open and use the Online Fixed-Term Deposit for micro-enterprise customers based on their own needs and fully assume responsibility for transactions related to this Online Fixed-Term Deposit.
• Customers and VIB are responsible for complying with and strictly adhering to the terms and conditions of the Fixed-Term Deposit Agreement.
• These terms and conditions include both the Vietnamese and English versions. In cases of discrepancies or inconsistencies between the Vietnamese and English versions, the Vietnamese version shall take precedence.
• Transaction Channels: Owners can deposit funds, terminate before maturity, terminate at maturity of the Fixed-Term Deposit via VIB Checkout; execute lockdowns, releases, transfers, and balance confirmations at VIB's Branches/Transaction Offices.
• The Fixed-Term Deposit Agreement between the customer and VIB shall be interpreted and adjusted in accordance with the laws of the Socialist Republic of Vietnam. In the event of disputes and unsuccessful negotiations or conciliation, each party has the right to bring the dispute to a competent People's Court for resolution.