New regulations on issuance of domestic deposit certificates by credit institutions

Certificates of deposit are issued and paid in Vietnamese Dong - Illustration photo

Subjects issuing and purchasing deposit certificates

According to the Circular, credit institutions and foreign bank branches issuing deposit certificates under the License for establishment and operation of credit institutions and the License for establishment of foreign bank branches include: Commercial banks; Cooperative banks; General finance companies, specialized finance companies; Foreign bank branches.

The subjects purchasing deposit certificates issued by commercial banks, cooperative banks, and foreign bank branches are organizations (including credit institutions and foreign bank branches), Vietnamese individuals, and foreign organizations and individuals.

The subjects purchasing deposit certificates issued by general finance companies and specialized finance companies are Vietnamese organizations (including credit institutions and foreign bank branches) and foreign organizations.

Certificates of deposit are issued and paid in Vietnamese Dong.

Circular stipulates that deposit certificates are issued and paid in Vietnamese Dong.

The interest rate of deposit certificates is decided by the issuing credit institutions and foreign bank branches in accordance with the interest rate regulations of the State Bank of Vietnam in each period. The method of calculating interest on deposit certificates is implemented according to the regulations of the State Bank of Vietnam.

The term, issue date and maturity date of the deposit certificate are decided by the issuing credit institution or foreign bank branch.

In case the buyer is a credit institution or other foreign bank branch, the credit institution or foreign bank branch may only issue deposit certificates with a term of less than 12 months.

The face value of a deposit certificate is 100,000 Vietnamese Dong or multiples of 100,000 Vietnamese Dong. The face value of a specific deposit certificate is decided by the issuing credit institution or foreign bank branch or by agreement between the credit institution or foreign bank branch and the buyer.

Release method

According to the Circular, credit institutions and foreign bank branches directly issue deposit certificates to the buyers at legal transaction locations within the domestic operating network of the issuing credit institutions and foreign bank branches (transaction locations) or by electronic means.

In case of issuance by electronic means, the credit institution or foreign bank branch that issues the certificate of deposit shall issue to the buyer a certificate of ownership of the deposit certificate in the electronic environment.

In case of issuing deposit certificates to buyers at transaction locations, credit institutions and foreign bank branches shall issue deposit certificates to buyers in the form of certificates. Credit institutions and foreign bank branches must design and print certificates to ensure high anti-counterfeiting ability.

In case a non-resident organization or individual and a resident foreign individual purchase a deposit certificate, the credit institution or foreign bank branch may only issue the deposit certificate at the transaction location to the purchaser.

This Circular takes effect from June 16, 2025.

Minh Hien

Source: https://baochinhphu.vn/quy-dinh-moi-phat-hanh-chung-chi-tien-gui-trong-nuoc-cua-to-chuc-tin-dung-10225050710170749.htm