Vietnam banks resume raising gold deposit

Some local commercial banks have resumed raising gold deposit with low interest rate levels amid current gold heat, local online newspaper Phap Luat Thanh Pho Ho Chi Minh (HCMC Law) reported.

Orient Commercial JS Bank (OCB) raised gold certificate at 1%p.a. interest rate and gold depositor could not withdraw gold before the maturity.

Other banks allowed their major branches to raise gold deposit but banned transaction offices to do so.

Under the current law, commercial banks are not allowed to lend gold from May 1, but they are allowed to raise deposit until May 1, 2012. – Stoxplus.com

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Posted by VBN on Aug 19 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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