TERM DEPOSIT

Open & redeem in-app instantly with attractive interest rates and flexible terms.
Choose rollover or fixed-term to match with your savings plan.
*Note: Foreigners who can prove their residential status in Vietnam is valid for at least 6 months on their identity document will be eligible to open a/multiple Term Deposit Account(s).

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*The interest rate will be applied from Novemver 28, 2023

The smart way to maximize your money

Multiple virtual savings

With Timo Term Deposit, you can set up as many term deposits as you like.
It’s simple and easy to set up right in the App without visiting a branch at all.
With terms ranging from 1 - 18 months, a Term Deposit is the safest way to secure your extra cash, while earning interest on it.

Attractive interest rates

Enjoy high-interest rates from Viet Capital Bank, that are competitive and updated regularly.
Timo automatically calculates your expected interest earned based on your deposit and term.

Save for longer, better the returns!

Instantly download and open an account in-app!

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Smart features designed to help grow your money

Smart saving

Don’t put all eggs in one basket. You can split your Term Deposit into smaller ones to save you from losing interest when you redeem them early. Each Term Deposit can be split into 4 smaller Term Deposits, so even if you withdraw 1 for a rainy day, you continue to earn interest on the remaining 3.

Auto renewal

And if you want to continue to grow your money, choose the Rollover option that will auto renew your Term Deposit along with interest earned automatically in the App. You can choose a fixed Term Deposit as well and still earn a healthy interest at the time of redemption.

Instantly download and open an account in-app!

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Who can apply?

Vietnamese citizens and foreigners who are legally allowed to live in Vietnam for 06 months or more can apply.
For Foreigners, the length of your deposit cannot be longer than the remaining validity on their visa in Vietnam.

How to setup a Term Deposit

Step 01
Select Term Deposit on your main dashboard.
Step 02
Press (+) and select Open New TD. Enter the required information to help Timo calculate the applicable interest rate.
Step 03
Review your Term Deposit details, choose to split it into smaller ones or not.
Step 04
Review your list of Term Deposits and set to rollover:
- Turn on the green button to choose Rollover for your Term Deposit amount.
  Rollover Term Deposit means your entire term deposit and interest will be automatically extended at the end of the original term length.
- By default, all Term Deposits are set to rollover. You can choose to disable this and opt for a fixed term instead.
- Proceed to complete your set up and your Term Deposit will be redeemed at the end of the selected term or rolled over.

Read the Terms & Conditions here.

Instantly download and open an account in-app!

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Frequently Asked Questions

Can I cancel Auto-deposit setting at any time?

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Certainly! You can cancel the Auto-deposit setting at any time through the TD list screen. 1. For Principal rollover TD, the original amount will continue to be invested after maturity, while the interest will be transferred to the Spend Account. 2. For Total rollover TD, both the original amount and the interest will be automatically rolled over into a new TD with the same term but at the current interest rate. 3. For Non-rollover TD, the original amount and the interest are not automatically rolled over but transferred to the Spend Account.

Can I enable Auto-deposit setting for multiple TDs?

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Definitely! You can apply this setting to many different TDs, ensuring flexibility in managing your personal finances.

What notification will I receive after the Auto-deposit is made?

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[av_textblock size='' font_color='' color='' id='' custom_class='' av-medium-font-size='' av-small-font-size='' av-mini-font-size='' av_uid='av-loqizcsk' admin_preview_bg=''] Every time the system automatically executes a deposit order, you will be notified via the Timo app, making tracking your savings growth easier. If the Auto-deposit order fails, you will receive a notification with the reason and the system will execute the deposit order in the next cycle. [/av_textblock]

How to activate Auto-deposit setting?

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[av_textblock size='' font_color='' color='' id='' custom_class='' av-medium-font-size='' av-small-font-size='' av-mini-font-size='' av_uid='av-loqixt2i' admin_preview_bg=''] Step 1: Log in to the Timo app. Step 2: Open a Term Deposit. Step 3: Select the Auto-deposit setting so that the system automatically creates a deposit order with the created TD information. Step 4: Confirm. The system will automatically execute monthly deposit orders according to the amount and term you have set. The interest rate will be based on the deposit date each month. [/av_textblock]

Why should you use the Auto-deposit setting?

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TERM DEPOSIT

The smart way to maximize your money

Smart features designed to help grow your money

Who can apply?

How to setup a Term Deposit

Frequently Asked Questions

Can I cancel Auto-deposit setting at any time?

Can I enable Auto-deposit setting for multiple TDs?

What notification will I receive after the Auto-deposit is made?

How to activate Auto-deposit setting?

Why should you use the Auto-deposit setting?

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