Vietnamese bank pays interest on savings of couple holding foreign passports
Tuesday, November 07, 2023, 20:14 GMT+7
Vietnamese lender SeABank on Monday paid the interest on savings since 2019 of a married Vietnamese couple from Hai Phong City, northern Vietnam after informing that they would receive no interest because they hold foreign passports several days earlier.
The bank offered different interest rates for the savings in different periods.
In particular, two deposits worth VND400 million (US$16,391) were entitled to an interest rate of 7.7 percent for the period from July 29, 2019 to July 28, 2021.
The rate was 6.35 percent between July 29, 2021 and July 30, 2023, and 0.2 percent from July 31 to September 20 this year.
Meanwhile, the interest was 7.7 percent for a deposit valued at VND500 million ($20,489) from July 3, 2019 to July 2, 2021, 6.4 percent from July 3, 2021 to July 2, 2023, and 0.2 percent from July 3 to September 20 this year.
In 2019, the married couple, named T. and D.T.M., residing in Hai Phong City, deposited a combined VND900 million ($36,867) at SeABank’s Hai Dang transaction point in July 2019, with the interest rate of 7.7 percent for a two-year term.
One passbook, worth VND500 million ($20,489), was owned by the husband, while two others, worth VND200 million ($8,195) each, were owned by the wife.
The savings matured in July 2021 and were then automatically renewed as the depositors did not come to finalize the accounts.
Until this year, when they sought to finalize the accounts, the transaction point said it would pay the principal but no interest for the period from July 2021 till now, as the depositors own foreign passports.
T. got the principal and interest payments over the course from 2019 to July 2021 for his VND500-million passbook, while M. received no interest on her deposits.
The Hai Dang transaction point later reported the case to the bank’s leadership and asked for solutions to ensure the customers’ benefits and compliance with the law.
T. and M. on Monday reached the transaction point to receive the interest from their savings.
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