• Customer: is understood as the owner of a Auto savings;
• VIB: Vietnam International Commercial Joint Stock Bank;
• Auto savings: is understood as a account which is issued by VIB to the customer at the time the customer successfully opens Auto savings via MyVIB;
• Blockade: is understood as an order which not allow any transactions of withdrawal deposit, fund transfer, closing and other transactions at the request of blockade.

• Open Auto savings: Customer makes registration to open Auto savings on MyVIB app, Customer checks and agrees with the terms and conditions notified by VIB and input correctly OTP (One Time Password) code provided by VIB;
• Procedures for performing transactions after opening Auto savings: Customers have to comply with VIB's regulations from time to time. In case, Customer is declared by the Court to have restriction/ loss of civil act capacity, or has dificulty in awareness and behavior control, the legal representative/ guardian of the Customer will represent the customer to perform deposit transactions.

Auto savings applied non term.

• Interest rate is applied according to the principle:
  • The interest rate is automatically updated by VIB's system at the end of each day according to the balance at the same time and the validity interest rate which is listed by VIB at the same time; and
  • The interest rate ensure compliance with The State Bank’s regulation ceiling interest rate;
• The annual interest rate calculated on a 1-year basis is 365 days.

• Interest is calculated according to the following formula:
  • Daily interest = end day balance x validity interest rate/ 365
  • Interest of a full month = Total daily interest of all actual days of a month;
  • Actual days of a month is calculated from the Auto savings opening date or the first date of a month to the date of termination or the last date of a month, whichever comes first;
• The starting date of interest calculation is the Auto savings opening date or the first date of a month, do not calculate interest on termination date.

• Customers can only transfer money from customer’s CA via MyVIB when Auto savings were opening. Once Auto savings opening completed, the customer can transfer money from the customer's CA via MyVIB or Internet banking at the address: www.ib.vib.com.vn;
• As soon as the Auto savings is opened, Customers are requested to register for automatic money transfer to the Auto savings with the following deduction facilities:
  • Deduction facilities:
    • (i) Automatically deduct money on any fund transfer transaction (exclude fund transfer within a Customer’s CAs;
    • (ii) Automatically deduct money on any bill payment transactions (electricity, water, telephone…) and top up transactions;
      (Transfer transactions, bill payment transactions and top up transactions are hereinafter referred to as “withdrawal transaction”)
  • The automatically deducted amount is calculated according the rounding method selected by the customer as follows:
    • (i) Method for rounding up to tens of thousands: Amount automatically deducted = Withdrawal transaction value rounded up to tens of thousands - Actual withdrawal transaction value; or
    • (ii) Method for rounding up to hundreds of thousands: Amount automatically deducted = Withdrawal transaction value rounded up to hundreds of thousands - Actual withdrawal transaction value; or
    • (iii) Method for rounding up to millions: Amount automatically deducted = Withdrawal transaction value rounded up to millions - Actual withdrawal transaction value;
  • Customer can select to enable/disable automatic rounding and deduction;
  • In case Customer’s CA does not enough balance for automatic deduction, VIB will only process the actual withdrawal fund transfer transaction;
• Customer can register a service for automatically fund transfer from CA to Auto saving. In the case, at the scheduled date of transferring, Customer’s CA does not enough balance, VIB will cancel that specific scheduled transaction, VIB will still continue to automatically fund transfer of the next periodic day if the CA has enough balance on the date of periodic fund transfer.

• Monthly interest is blended into the principal at: (i) the last day of each month and always after the time when the banking system finalizes data to move to the following day; or (ii) the date of termination of the Auto savings;
• Customer is required for using his/her CA receiving principal payments;
• Customer is not allowed to withdraw cash or make direct transfer from Auto savings.

• Auto savings is allowed to be terminated by Customer at any time via MyVIB service;
• In case the CA is blocked/ temporarily locked/ changed in account status (according to VIB's regulations from time to time), VIB will still pay principal to the CA as specified by Customer, unless an agreement/ request for blockade/ temporary lock or change in CA’s status is not allowed;
• In case VIB fails to pay because: (i) the CA is closed; or (ii) the agreement/ request for blockade/ temporary lock does not allow; or (iii) change in CA’s status according to VIB's regulations from time to time, VIB will hold the principal and interest on Auto savings in accordance with the principle of applying the interest rate in this term and condition until: (i) Customer has a CA at VIB to replace the closed CA; or (ii) the agreement/ request for blockade/ temporary lock the CA has expired; or (iii) the CA is restored to the status which allow transactions in accordance with VIB's regulations from time to time.

• VIB has right to change the terms and conditions of Auto savings and responsibility for publicing the update on VIB's website at: www.vib.com.vn and at VIB's Branches/ Transaction Offices;
• Customer is responsible for updating the terms and conditions of Auto savings on VIB's website at all the times;
• The changed terms and conditions will take effect after 10 working days from the date on which the changes of terms and conditions are publicity on VIB's website;
• If Customer does not agree with the changed content, Customer can terminate The Auto savings within 10 days from the date the changed content is updated on the website;
• In case Customer does not terminate Auto savings, Customer confirms and agrees that: Customer will be deemed to have accepted such changed terms and conditions;
• Customer's failure to terminate Auto savings after the effective date of the changed terms and conditions will be the final evidence that Customer has accepted to be bound by these changes.

• Customer has right to look up Auto savings information through the following channels:
  • MyVIB mobile banking application and Internet banking at the address: www.ib.vib.com.vn;
  • 24/7 Customer Service Call Center: phone number 1900 2200 (1,000 VND/min);
  • Branches/ Transaction Offices of VIB;
• Customer has right to look up information about terms and conditions of Auto savings on VIB's website and at Branches/ Transaction Offices.

Do not apply the form of co-owner with Auto savings.

The owner is not allowed to authorize a third party to perform any rights or obligations arising from the Auto savings, except the owner is sick, suffers from disease and fail to perform transactions by himself/herself, but not declared by the court to lose or limit civil act capacity, difficulty in understanding and controlling acts

Customer may not transfer rights and obligations arising from Auto savings (including transfer, donation, and other similar transactions) to a third party, except in case of inheriting Auto savings. VIB will pay principal and interest to the legal heir of the customer on the basis that the heir presents the documents as prescribed by VIB from time to time.

VIB has the authority to block all amount on the Auto savings in the following cases:

• Customer has request to block Auto savings in accordance with VIB's regulations;
• There is a written request for blockade by a competent autthorities according to law regulations;
• Other cases are prescribed by law and Terms and conditions of Auto savings.

• Auto savings is not allowed to act as collateral for loans at VIB.
• In case the customer uses Auto savings as security for loans/credits at other credit institutions, VIB only agrees to confirm the blockade of the Auto savings according to VIB's "Deposit Blockade Request" form.

• Auto savings will take effect immediately after: (i) Customer completes the declaration of Auto savings opening on MyVIB; and (ii) VIB's system has completed the transfer of money from the CA as specified by the Customer to the opened Auto savings;
• For Auto savings opened after the time when the banking system finalizes data to move to the following day, the validity of the Auto savings might be recorded on the following day of the actual day;
• Customer commits to open Auto savings deriving from the needs of the Customer and take full responsibility for transactions related to Auto savings. Customer can only have one valid Auto savings at a time;
• Customers and VIB are responsible for complying and properly implementing the Terms and conditions of Auto savings;
• Terms and conditions of Auto savings includes Vietnamese version and English version. In case of discrepancies or inconsistencies between the Vietnamese version and the English version, the Vietnamese version shall be prevailed;
• Auto savings between the Customer and VIB is explained and adjusted under the laws of the Socialist Republic of Vietnam. In case there is any dispute and the negotiation and mediation are unsuccessful, each Party has right to bring the dispute to a competent People's Court.