HSBC Launches Third Phase of Issuing US Dollar CDs
The Hong Kong and Shanghai Banking Corporation (HSBC) on May 22 started issuing certificates of deposits (CDs) in US dollars for the third time following two previous successful CD issues.
The minimum face values of the CDs are $5,000 in Hanoi and $10,000 in Ho Chi Minh City. The CDs will be sold at their face values.
These non-transferable CDs sold to individuals carry annual interest rates of 3.95 per cent for three-month terms, 4.15 per cent for six-month terms, 4.25 per cent for nine-month terms and 4.65 per cent for 364-day terms. Interest will be paid at maturity.
Ghislain Nguyen, manager in charge of personal finance services at HSBC, said “our second CD issue was very successful when the sales doubled the first issue. This means that we have successfully accessed Vietnamese clients.”
Presently, HSBC is the first foreign bank that has ever issued CDs in US dollars in Vietnam.
As scheduled, this third issue will last until July 21. The first and second CD issues were in December 2005 and March 2006 respectively.
Vietnam Economic Times
Vietnamese
