The rights of depositors are stipulated in Article 24 of the Regulations on Savings Deposits issued by the Governor of the State Bank of Vietnam accompanying Decision 1160/2004/QD-NHNN as follows:
1. Depositors will receive full payment of both principal and interest on their savings deposits, as agreed upon with the deposit-taking institution.
2. The depositor is the owner or co-owner of a savings deposit account who has been transferred ownership of the savings card, who has inherited the savings deposit, or who has authorized another person to carry out withdrawal transactions from the savings deposit in accordance with the law.
3. Depositors who are the owners or co-owners of savings deposits may pledge their savings passbooks as collateral for loans from credit institutions if approved by those institutions.
4. The depositor, acting as a guardian or legal representative, is entitled to conduct transactions related to savings deposits in accordance with this Regulation and relevant legal documents.
Illustration photo: Vov.vn
Things to note when depositing savings.
When deciding to deposit your savings, choosing a reputable bank is the first and most important step. A well-established and stable bank will give you greater peace of mind regarding your deposited funds. In addition, you should take the time to thoroughly research the savings products the bank offers. Each product will have its own characteristics regarding interest rates, terms, early withdrawal conditions, and associated service fees. Read the contract carefully before signing to ensure you understand all the terms and conditions.
Protecting your personal information and accounts is extremely important. You should set a strong password for your bank account and never share this information with anyone. At the same time, carefully safeguard your savings passbook or ATM card to avoid loss or forgery. Furthermore, you should regularly check your account balance and transactions to detect any unusual activity early.
Another important point to consider is deposit insurance. This is a form of protection for your deposits in case the bank experiences difficulties. However, each country has different regulations regarding insurance limits and eligible parties. Therefore, you need to carefully research the deposit insurance policy of your bank and the country you live in.
Finally, to maximize returns and minimize risks, you should diversify your savings. Instead of just depositing money in one bank, you can consider investing in other channels such as gold, stocks, or other investment products. However, before making any investment decisions, you should consult with financial experts to make the most suitable choices.
In summary, depositing money into a savings account is a safe and effective form of saving. However, to protect your interests, you need to pay attention to issues such as choosing a reputable bank, understanding the product thoroughly, securing your information, and monitoring your account regularly.
Source: https://vtcnews.vn/quyen-cua-nguoi-gui-tien-tiet-kiem-ar902154.html
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