Banks to Charge Fees on Gold Deposits
The State Bank of Vietnam has ordered commercial banks to charge customers fees for gold deposits rather than offering interest on such types of savings.
According to the central bank’s directive, banks will have to make public the level of fees and detailed information about which branches offer gold deposit services.
Banks will be additionally banned from paying interest of any form on gold deposits.
Banks will also be required to submit reports on their gold deposits no later than the fifth of each month.
Nhan Dan
Vietnamese
