MAXIMIZING BENEFITS WHEN SAVING THROUGH DIGITAL BANKING

In the turbulent market economy, savings are considered a safe haven for money. Numerous customers have discovered ways to maximize the returns on their savings deposits by utilizing digital banks that offer advantageous interest rates and flexible principal withdrawals.

When money flows to savings

Since the beginning of the year until now, interest rates in both the retail-corporate market and interbank market have decreased sharply as the State Bank of Vietnam (SBV) adjusted interest rates four times, with a reduction of 0.5%–2%, to support economic growth and recovery.

Nevertheless, monthly deposits into the banking system continue to set new records. According to statistical data from SBV, by the end of August 2023, the amount of deposits in the banking system had reached more than 6.43 quadrillion VND, an increase of more than 43.7 trillion VND compared to July. This marked a series of 21 consecutive months of positive growth. Thus, from the beginning of the year to the end of August, deposits grew by 11.8%.

This demonstrates that investors no longer find investment channels such as real estate, stocks, bonds, gold, and so forth to be particularly alluring in the context of market fluctuations. Meanwhile, certain financial and banking experts have forecasted that bank deposits will still remain a secure investment avenue with further growth in the near future.

Savings is still a safe and effective investment channel, trusted by many people

The secret to maximizing profits

Mr. Hoang Nam (36 years old, Ho Chi Minh City) places the utmost importance on selecting a reputable and safe bank that offers flexible liquidity for savings. In addition to state-owned banks, a number of private banks also meet the above criteria and offer many flexible and attractive savings products and solutions that have become the choice of customers like Mr. Nam.

“In times when stocks are unpredictable and the real estate market is less exciting, I choose savings. Currently, I deposit money online on the digital banking application of National Citizen Commercial Joint Stock Bank (NCB) because of competitive interest rates, flexible principal withdrawal policy, and especially, the convenience of 24/7 availability, allowing us to close savings accounts online," Mr. Nam said.

Meanwhile, Ms. Quynh Trang (31 years old, Hanoi), another NCB customer, shared that she always deposits her savings via digital banking whenever she has idle funds as she feels more secure, limits excessive spending, and enjoys more preferential interest rates than over-the-counter savings.

Instead of going to the counter like before, with just a few minutes, customers can successfully open a savings account on the NCB iziMobile application. Especially, with the anniversary promotion program that lasts until the end of the year, NCB also adds an additional 0.28% per annum interest rate for customers when depositing online savings, helping customers maximize profits on their deposits. The program is applicable until the end of December 31, 2023, for customers who have a savings amount from 300 million VND on the NCB iziMobile application with the following products: An Phu Savings, Traditional Savings, and Accumulative Savings.

Customers receive an additional 0.28%/year interest rate when depositing online savings on the NCB iziMobile application

With the goal of comprehensive digital transformation and constantly improving the customer experience, in the past two years, NCB Bank has continuously updated attractive and useful features on the NCB iziMobile digital banking application, creating a "pocket-sized bank" for retail customers.

NCB iziMobile not only garners praise for its user-friendly interface but also wins the hearts of users by minimizing the processing time of core financial transactions, including free money transfers, automatic bill payments, savings deposits with preferential interest rates, QR payments, etc. Thanks to that, more and more customers are fond of this digital banking application.

In addition, customers also receive increased benefits when using NCB iziMobile to make bill payments, mobile top-ups, etc. Specifically, from now until December 31, 2023, customers will receive 28% instant cashback when paying bills and topping up their mobile phones on the 10th of every month, and get a cashback promotional code of up to 100,000 VND when maintaining a payment account balance of 10 million VND.