ACB enhances promotion programmes for saving products

VNStockNews.com - While small and medium sized banks continuously have increased the deposit rates, Asia Commercial Joint Stock Bank (ACB) was forced to join the interest rate race despite the increased capital costs.

Apart from hiking saving rates so as to be matched with the market trend, ACB is enhancing the promotion programmes for saving products to upgrade the utilities for depositors. Most recently, the bank launched the programme "Van mon qua va Trieu niem vui" that will last till this December for all depositors of the dong, US dollar, euro and gold (SJC and ACB) with terms of 2-36 months. Total prize value of the saving promotion programme is up to three billion dong.

Accordingly, with the deposit of 10 million dong, or $500 or 500 euro, or five tenth of taels of gold, depositors can have chance to receive gifts such as one Mercedes Benz C200K Elegance car, one set of LG branded name household appliances, shopping tickets and other attractive gifts.

As for the deposits of 30 million dong, $2,000 or 2,000 euro, or two ounces of gold, customers can receive many valuable prizes including 50 LG J-C09S air conditioners and others.

Previously, the bank had launched the programme "Gui hom nay trung ngay lai suat" with an attractive bonus saving rate of 0.16 percent pa for the first interest receiving period. The saving programme will be enforced till late December 2009. At the same time, ACB exempted fees on granting and maintaining the overdraft lending limit as well as granted ATM2+ cards free of charge as for depositors of at least five million dong.

Foremost, with the programme "Qua tang tri an" being launched and slated to this October, the depositors of five million dong with the commitment of not withdrawing this prematurely will be presented a plus deposit rate of 0.4 percent pa. Compared with the current rate market band, ACB's interest rate benchmark is very competitive. On October 12, ACB raised 1-13 month deposits by 0.2-0.4 percent pa. Two days later, ACB hiked another 0.1 percent pa to 9 percent pa for 24-month savings.

Thanks to flexible policies, the bank successfully raised 112.094 trillion dong of deposits, lent 61 trillion dong and earned 1.8 trillion dong of profit in the first nine months, reported the general director Ly Xuan Hai. This year the bank plans to gain total 2.7 trillion dong in profit.