Do you know How much money do you need to open a savings account? are not? However, each bank has different regulations on savings. But the information below will surely give you a lot of knowledge on this matter.
Opening a savings book is simple, but customers have to pay an amount. This is the minimum amount to open a savings book. This limit is quite low so any customer can meet it.
Things to know about bank savings
When there is a bank savings transaction. It doesn't matter how much, but one thing is for sure, you will receive a passbook and proof of deposit.
Passbook is proof of deposit. In the book, the deposit date, deposit term and deposit amount are clearly stated. A passbook not only helps you keep track of the date you receive your interest, but it is also an important document that you must keep carefully. When the book is damaged or lost, of course, it will still be possible to make a new one, but the procedure is complicated and very time consuming.
Currently, many people with idle money choose to save money in a bank instead of investing. Because this is a safe, low-risk and still profitable form (receiving monthly interest). If you are looking to save money at a bank, please refer to some of the following popular savings packages.
Introducing some of the most popular savings packages today
Currently, there are many different types of savings accounts in banks. So here we would like to introduce to everyone about some popular types of bank savings numbers today. Specifically, we invite you to find out below.
Package 1: Savings without term
Demand deposit is when you deposit money in a bank but there is no clear regulation on a specific time period. Depositors under this package can withdraw money flexibly at any time they want. The downside of this savings package is the low interest rate.
So if you want to deposit money in the bank but not sure when you will have to withdraw the money. Then it's best to choose this unlimited savings plan. When going to the bank to withdraw money, you just need to bring your ID card and savings book. No need to pay any extra fees.
Package 2: Term Savings
Term savings deposit means you deposit money in a bank and have a specific withdrawal time limit. There are many terms for customers to choose to best suit their own conditions and circumstances.
The popular terms are: 1 month, 3 months, 6 months, 9 months, 12 months, 15 months, 24 months, 36 months... Usually, the larger the term deposit, the higher the interest rate. But you will not be able to withdraw money flexibly but must withdraw on time. Otherwise, the high interest rate will not be applied, but the interest rate will be charged according to the demand package.
There are also cases where the savings have reached the withdrawal period, but the recipients do not come to withdraw the principal and interest. At this time, the bank will automatically add interest to the principal. Then give you a new term equal to the old term.
Find out how much money it takes to open a savings book?
Anyone who intends to save money also wants to find out What is the minimum amount to open a passbook?? In fact, each bank will have a different minimum amount. But most people set the minimum milestone of a term savings package to be 1,000,000 VND.
Currently, many banks also offer online savings deposit packages. Customers just need to stay at home can still save money. In particular, the minimum amount to join this cumulative savings package is very small. Some banks only require 100,000 VND or more.
Regulations on the minimum amount when opening savings accounts at banks
Refer to the regulations on Minimum amount to open a passbook at some big banks in Vietnam.
Joint Stock Commercial Bank for Investment and Development (BIDV)
- Minimum amount to open a savings book in Vietnamese Dong: 500,000 VND
- Minimum amount to open a foreign currency passbook: 100 USD / 100 EUR.
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)
- Minimum amount to open a savings book in Vietnamese Dong: 500,000 VND
- Minimum amount to open a foreign currency savings book: 20 USD.
Vietnam Technological and Commercial Joint Stock Bank (Techcombank)
- Minimum amount to open a savings book in Vietnamese currency: 1,000,000 VND
- Minimum amount to open a foreign currency passbook: 100 USD / 100 EUR.
International Commercial Joint Stock Bank (VIB)
- Minimum amount to open a savings book in Vietnamese currency: 1,000,000 VND
- Minimum amount to open a foreign currency savings book: 50 USD / 50 EUR.
Asia Commercial Joint Stock Bank (ACB)
- Minimum amount to open a savings book in Vietnamese currency: 1,000,000 VND
- Minimum amount to open a foreign currency passbook: 100 USD / 100 EUR.
Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
- Minimum amount to open a savings book in Vietnamese Dong: 100,000 VND
- Minimum amount to open a foreign currency passbook: 10 USD / 10 EUR.
Instructions on how to open a savings book at a bank
You already know What is the minimum amount to open a savings book?. But if you do not know how to register to open a savings book. Please follow the two ways below.
Open a savings number at the counter
The disadvantage of going to the bank to make a savings book is that it takes time and effort to travel. But on the contrary, the advantage of these options is to choose more savings packages. Moreover, there are bank staff at the transaction point, who will advise you on which savings plan is suitable.
There will be 2 cases
- Case 1: People over 18 years old. This group only needs to bring the amount to be deposited and the ID card to the bank to open a passbook.
- Case 2: Persons under 18 years old. This group must have a parent's guarantee to save money. Or not, you have to prove where this savings deposit is from.
Open Online Savings Number on Mobile App
Online savings package is an online deposit product. Customers will deduct money from their checking account to their savings account through the banking application. All banks now have Mobile Banking applications. Please follow the steps below.
- Step 1: Log in to the Mobile Banking application installed on your phone.
- Step 2: Click on online savings.
- Step 3: Here, there will be a choice of sending limit, sending time, and sending method.
- Step 4: When you successfully fill in the information, click confirm, the system will automatically deduct money from the payment account.
Epilogue
The above article answers everyone's question How much money do you need to open a savings account?? Information about the minimum amount of some banks when opening a savings account. Guide you more on how to open a savings account at a bank. With the above information, we hope it will be of help to you. If you have any questions, please leave feedback for answers and support.
Reference: How much money do you need to open a savings book at Sacombank?
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