Currently, term deposits are the investment channel chosen by most individual and corporate customers because of their safety and stable interest rates. With that trend, the product “Periodic interest deposit" at SeABank has been bringing benefits to corporate customers. Let's learn about this product with SeABank through the article below.
Concept of periodic interest deposit
Periodic interest deposit is a type of term deposit in which interest is paid periodically every month/quarter according to customer registration, the principal deposit is maintained until the end of the term according to the agreement with the bank.
Term deposit is the amount of money that a customer deposits for a certain period of time at a credit institution and is fully repaid with principal and interest according to the principles agreed between the customer and the credit institution.
Characteristics of periodic interest deposits
Periodic interest-bearing deposits are an excellent financial solution for businesses, bringing many practical and stable benefits. This product helps businesses not only manage cash flow effectively but also optimize profits from idle money. Businesses will enjoy attractive interest rates, flexible terms and high safety when choosing to use periodic interest-bearing deposits. Below are the subjects and benefits that businesses receive when participating:
Depositors receive periodic interest
The subject of depositing money and receiving periodic interest isBusinesses, agencies, companies, and organizations that have idle money for a certain period of time but do not have a need to use it.
There are many deposit terms for customers to choose from.
Benefits of depositing money and receiving interest periodically
Some benefits when businesses choose to deposit money with periodic interest at SeABank are as follows:
- Flexible deposit terms: There are many diverse deposit terms, suitable for the business's capital usage plan.
- Flexible interest payment method: Businesses can choose to receive interest monthly or quarterly.
- Attractive interest rates: Businesses will receive interest rates corresponding to the deposit term, usually deposit interest rates will be higher than non-term deposit interest rates.
- Flexible early repayment: Businesses can withdraw early at any time when needed and will enjoy non-term interest for the entire amount withdrawn early.
- When customers need to borrow capital, it can be used as collateral.
Choose periodic interest deposit at SeABank
As introduced at the beginning of the article, SeABank is currently providing the product "Periodic interest deposit for business customers. With this product, customers will agree with SeABank to receive monthly/quarterly interest and can receive the principal or extend the revolving principal amount according to the original term as agreed.
In addition to the benefits and features of the product as mentioned above, customers need to know the following information.
- Condition: Customers organize legal activities in Vietnam.
- Deposit type: Diverse for customers to choose from VND/ USD/ EUR.
- Minimum deposit amount: Customers deposit minimum amount: 10,000,000 VND/500 USD/500 EUR.
- Deposit term: From 2 to 60 months. Specifically as follows: 2/3/4/5/6/7/8/9/10/11/12/13/15/18/24/36/60 months.
- Interest rate: Attractive and competitive interest rate according to the market and updated by SeABank from time to time.
- Interest payment method: Interest is automatically paid to the Customer's Payment Account on the business day following the last day of each interest period. For the final interest payment, interest is paid on the maturity date.
- Form of receiving principal: SeABank automatically closes the Deposit Contract and transfers the entire principal to the customer's payment account. or automatically rotates the principal amount according to the original term with the interest rate updated at the time of transfer.
- Registration documents: Documents proving the legal status of the Organization, term deposit contract, documents proving the legal representative status of the account owner.
Attractive periodic interest rate on deposits
Above is the most detailed summary information about periodic interest deposit products at SeABank. To learn more about this product of SeABank, please visit the website or contact Hotline 1900.599.952 (Business Customer).
