According to Circular No.49/2018/TT-NHNN issued by The State Bank of Vietnam, Non-Vietnamese customers, with valid documents proving residential status in Vietnam (Visa/Residence Card) with at least 6 months will be eligible to open Term Deposit Accounts. However, the term cannot be greater than the remaining validity of the document.

The certificate of any account balance is to prove that you currently have a fixed amount in the bank. Thus you can only request this document when your Term Deposit is active.

As Timo is a fully digital banking service, the certificate of your Term Deposit is a Digital Deposit agreement sent via email every time you open a Term Deposit. In case you need a printed certificate with a Bank stamp, please request the Confirmation of account balance under “Document Request” via the Timo Web app.

Yes. You can receive the same interest as you’d get with your Spend Account (0.1%/ year). As long as you still have some Term Deposits locked in for the original term, while withdrawing others you will continue to receive the interest on the balance Term Deposits.

It’s easy.

  • Step 1: Log in to the Timo app
  • Step 2: Tap on Term Deposit
  • Step 3: Choose the specific Term Deposit you want to withdraw, tap Redeem early
  • Step 4: Confirm again

And your Term Deposit is withdrawn into your Spend Account.

It’s easy.

  • Step 1: Select Term Deposit on your main dashboard
  • Step 2: Press (+) and select Open New Term Deposit
  • Step 3: Input the required information to help Timo calculate the applicable interest rate
  • Step 4: Review your Term Deposit details, choose to split the Term Deposit into smaller ones or not
  • Step 5: Review your list of Term Deposits

You can choose to have your Term Deposits rollover or not.

With fixed Term Deposit, your term deposit and interest will be redeemed at the end of your term. The money will be credited into your Spend Account.
With rollover Term Deposit, your money (deposit and interest) will be automatically renewed for another term.

Rollover on your Term Deposit is a feature that allows your Term Deposit (including the base amount and interest) to be automatically renewed at the end of the term. The renewed term will be the same as the original term length.

You can find the interest rates in the Term Deposit section of the app. At the Home Screen, tap Term Deposit, tap (+) and select Current interest rate to see the interest rate table. This interest rate is the online interest rate from Viet Capital Bank and is updated every day.