Tips

The Ultimate Guide to Agribank’s Savings Account Deposits

Introducing the ultimate guide to sending savings to Agribank. Uncover the secrets to seamlessly transferring your hard-earned money to one of Vietnam's leading banks. Discover the efficient and secure methods to grow your financial future with Agribank. This insightful article will navigate you through the process, ensuring your savings journey is a breeze.

Administrator

13 July, 2024

273

Agribank is one of the largest and most reputable banks in Vietnam. Today, we will guide you through the step-by-step process of opening a savings account with Agribank.

1What is the procedure for opening a savings account with Agribank?

The process of opening a savings account with Agribank can be done through two methods: directly at a branch or online. Here are the steps for each method:

2Different types of savings accounts offered by Agribank

Agribank offers a variety of savings accounts to meet the diverse needs of its customers. Here are some of the options available:

Term Deposits: With this type of account, you can choose the term of your deposit and the type of interest calculation. The minimum deposit amount is 1,000,000 VND, and you can make deposits and withdrawals at any Agribank branch.
Flexible Savings: This is a term deposit account that allows you to withdraw a portion or all of your original deposit at any time. The remaining balance continues to earn interest according to the agreed-upon terms.
Floating Interest Term Deposits: With this type of account, the interest rate is adjusted automatically on a monthly basis to match the market rate.
Regular Savings: This account allows you to make regular monthly deposits of a fixed amount over a specified period. You can withdraw the entire amount, including interest, at the end of the term.
Non-Regular Savings: With this account, you can make multiple deposits of varying amounts. You can withdraw the principal and interest in a lump sum at the end of the term, which can be 6, 12, 18, 24, 36, or 60 months.
An Sinh Savings: Similar to the Non-Regular Savings account, but with a minimum term of 12, 18, or 24 months.
Education Savings: This account is designed for those who want to save for education expenses. It has a term of 1 to 18 months and allows for regular monthly deposits.
Retirement Savings: This account allows you to save for your retirement by making regular deposits during your working years. The term of this account is 6 to 24 months.

3Agribank’s savings account interest rates

To make it easier for you to keep track of your savings, here are the latest interest rates for Agribank’s savings accounts (for individuals):

1-month term – 3.10% interest rate
2-month term – 3.10% interest rate
3-month term – 3.40% interest rate
6-month term – 4.00% interest rate
9-month term – 4.00% interest rate
12-month term – 5.60% interest rate
18-month term – 5.60% interest rate
24-month term – 5.60% interest rate
No fixed term – 0.10% interest rate
Payment savings – 0.10% interest rate

Note: Local interest rates may be lower than the rates advertised. For specific interest rates, please contact your nearest Agribank branch or agent.

We hope that this guide has provided you with all the information you need to open a savings account with Agribank. For more financial guidance, please refer to our additional resources below.

Frequently asked questions

Agribank’s Ultimate Savings Account is a type of savings account that offers a higher interest rate compared to their regular savings accounts. It provides customers with a convenient way to save money while earning competitive returns.

Both Vietnamese citizens and foreigners who are at least 15 years old can open an Ultimate Savings Account. Minors below 15 years old can also open the account with the consent and accompaniment of their legal guardians.

The Ultimate Savings Account offers several advantages, including a higher interest rate, no minimum balance requirement, and the ability to withdraw money at any time without penalty. Additionally, account holders can easily transfer money to other Agribank accounts and enjoy preferential rates when applying for loans or credit cards.

To open an Ultimate Savings Account, you can visit any Agribank branch with the required documents, which include your identity card (or passport for foreigners), proof of residence, and a completed application form. The process is straightforward and should not take more than 30 minutes.

Agribank does not charge any fees for opening or maintaining the Ultimate Savings Account. However, there may be charges for certain optional services, such as requesting a physical statement or using an ATM outside of Agribank’s network.

You can deposit money into your Ultimate Savings Account through various methods, including cash deposits at any Agribank branch, transferring funds from another Agribank account, or through internet banking, mobile banking, or ATM transfers.

There is no maximum limit to the amount you can deposit into your Ultimate Savings Account. However, for cash deposits, there may be transaction limits set by Agribank for security reasons.

Withdrawing money from your Ultimate Savings Account can be done by visiting any Agribank branch or through their ATM network. You can also transfer funds to other accounts, either with Agribank or with other banks, through internet banking or mobile banking.

No, there are no penalties for withdrawing money from the Ultimate Savings Account. You are free to withdraw funds at any time without incurring any charges or losing interest.

You can check your account balance and transaction history by logging into your internet banking account or through Agribank’s mobile banking app. You will also receive monthly e-statements, providing a detailed breakdown of your account activity.