Article 5. Interest and Fee regarding opening and use of Spend Account

1.      Interest: The balance in Spend Account of Customer (with the condition that the balance is larger than the Minimum Balance under regulation of VPBank) is entitled to receive non-term deposit interest rate. The non-term deposit interest rate shall be fixed, announced and listed publicly by VPBank on the website of Timo and/or Timo Application in each period. The interest rate may be adjusted on the basic of market and on the principle of not exceeding the maximum non-term deposit interest rate under regulations of State Bank of Vietnam in each period. At the time of adjusting interest rate, Timo shall send a notice to Customer in the forms regulated in the General Transaction Terms and Conditions. In case the deposit balance in Spend Account of Customer is temporarily locked, blocked or deposited for certain purposed, applied interest rate shall be performed under regulations of VPBank or agreement between VPBank and Customer (if any).

2.      Method of calculating non-term depostion interest

a.    Factor of calculating interest:

(i)        Duration of calculating interest: is determined from the day that VPBank receive the deposit to the close of the day before the day that VPBank pays fully the deposit (including the first day, excluding the final day of duration of calculating interest). The time to determine the balance to calculate interest is at the end of each day in the duration of

(ii)     Actual balance: is the daily closing balance of the deposit balance that VPBank must pay to Customer, used to calculate under agreement in Contract.

(iii)   Number of days to maintain actual balance: is the number of days that the actual balance at the end of each day unchanged.

(iv)    Interest rate of calculating interest is on the basic of percentage (%)/year (annual interest rate); one year is three hundred sixty five days.

b.   Formula of calculating interest: For each deposit, the interest shall be calculated according to the following formula:

Interest amount =	∑ (Actual balance x  Number of days to maintain actual balance  x  Interest rate of calculating interest)
	365

c.    For each deposit, in case the duration from the day when VPBank receives the deposit to the day when Customer withdraw the deposit is under one day, Parties agree that Duration of calculating interest and Number of days to maintain actual balance is determined 01 (one) days, Actual balance to calculate interest is the balance at the end of day in Duration of calculating interest. To clarify, Parties agree that in case Customer deposits then withdraws in the same working day, there shall be no interest to paid to Customer.

d.   Converting interest rate

Parties agree that the interest rate of calculating interest stated in Clause 1 of this Article shall be equal to the respective annual interest rates according the method of calculating interest using Duration of calculating interest determined from the next day of the day receiving the deposit to the close of the day paying fully the deposit (excluding the first day, including the final day) and the balance to calculate interest is the balance at the beginning day of calculating interest. To clarify, converting interest rate under this Point d is intended to make clear interest rate, not to apply to calculate interest according to the method of calculating regulated in Clause 2 of this Article.

3.      Customer shall be responsible to pay to VPBank fees in Schedule of fees for account service of Timo in accordance with laws, including the following fees:

a.       Fees related to opening and use, management of Account according to regulations of VPBank in each period.

b.      Fee of transaction statement issuance: is the fee that Customer must pay when requesting VPBank to issue statement of transaction(s).

c.       Fee of confirmation for account balance: is the fee that Customer must pay when requesting VPBank to confirm the balance in Spend Account.

d.      Other fees in accordance with regulations of laws and specified at Schedule of fees for account service of VPBank.

4.      In case Schedule of fees for account service changes, VPBank shall list publicly on the website of Timo and/or Timo Application. The new schedule shall be applied from the date of Timo’s notice.