Digital savings reign supreme

Instead of having to go to the counter, bring a lot of cash, which is risky, now many customers, especially young people in the province, choose the flexible form of online savings. Ms. Ha Nhu Quynh, Tam Thanh ward said: I often transact on the BIDV SmartBanking application of the Vietnam Joint Stock Commercial Bank for Investment and Development, Lang Son Branch, so I researched and chose to save online. I found that compared to saving at the counter, this form of saving helps me enjoy higher interest rates, and when the maturity date comes, the principal and interest are automatically transferred to the account. In addition, I can also monitor the balance, check the interest rate, close and continue to save right on my phone, so financial control is easy.

Not only Ms. Quynh, many customers in the province appreciate the online savings form as convenient and safe for depositors. In addition to depositing large savings with deposit terms according to bank regulations, customers can divide the amount of money to deposit more into the savings account at any time without being limited by the number of deposits.

According to data from the State Bank of Region V, the province currently has 15 commercial banks, 12 level 2 branches and 58 transaction offices. Implementing the cashless payment policy of the Government and the province and promoting the development of digital banking applications, in recent times, banks have encouraged customers to participate in online savings. Along with that, banks are constantly upgrading technology in a simple and convenient direction to help customers use it easily; applying advanced security technologies such as: biometric authentication, data encryption according to standards... to ensure absolute security and safety for users.

Mr. Nguyen Hong Duc, Director of the Bank for Agriculture and Rural Development of Vietnam, Lang Son Branch (Agribank Lang Son) said: In order to promote the development of digital banking applications, creating maximum convenience for customers, in recent times, Agribank Lang Son Branch has continuously developed electronic banking services, including online savings services. Accordingly, the form of online savings has developed strongly in the past 3 years. With this form of savings, users only need to perform simple operations through Agribank's electronic transaction channels, the most convenient of which is the Agribank Plus smartphone application. At any time, users can transfer idle and accumulated money from payment deposit accounts to savings accounts. Customers can close their savings books at any time when they need cash, including holidays. Up to now, the branch's online savings balance has reached about 1,008 billion VND, with 35,624 customers participating in the deposit. Online depositors have higher interest rates than at the counter from 0.3% to 0.7%/year.

Along with Agribank Lang Son, in recent years, banks have promoted the development of online savings products, with diverse terms suitable for many customers such as: under 1 month, 3 - 6 months, 6 - 9 months, 12 - 24 months, over 24 months... with a minimum deposit of 1 million VND. Many banks also provide online savings packages with attractive interest rates, 0.1 - 0.8% higher per year than at-the-counter savings, depending on the subject, deposit amount, term and subject.

Ms. Tran Thi Nga, Deputy Director of the Joint Stock Commercial Bank for Foreign Trade of Vietnam, Lang Son Branch (Vietcombank Lang Son) said: In the past, to effectively implement the online savings program, Vietcombank Lang Son has simultaneously deployed communication solutions to customers such as propaganda via digital platforms, visual instructions with videos and images. Currently, the branch is implementing many preferential product packages for customers depositing money online, specifically: online term deposits, flexible principal withdrawal deposits, online savings deposits, and deposits for children. For customers participating in online savings, there are often preferential interest rates, about 0.1 - 0.2% higher per year than at the counter (depending on the time). In addition, customers can borrow and mortgage their online deposits right on the VCB Digibank application. Up to now, the total online savings balance at Vietcombank Lang Son has reached about 150 billion VND, with more than 2,000 customers participating in savings.

Compared to traditional savings, online savings are more secure and safe. After completing the transactions, the savings on the customer's banking application will be blocked, so customers can be completely assured. All online transactions are performed by the account owner himself, and cannot be faked like paper books; personal information is encrypted, stored and secured; transactions are authenticated through many steps and controlled on the system, so customers do not worry about losing or misplacing their savings books.

Although online savings deposits bring convenience and safety to customers, customers also need to pay attention to choosing reputable banks; only make transactions on official banking applications, do not share OTP codes, passwords, avoid accessing strange links and fake websites.

In the context of digital transformation taking place strongly in all fields, online savings are gradually asserting themselves as a modern, safe and effective financial service. With the active support of commercial banks and the increasing demand of people, this form of savings not only contributes to changing traditional financial habits, but also opens up a sustainable direction for the banking system in the whole province in improving service quality, optimizing customer experience and promoting the development of digital banking.