During each Lunar New Year (Tet) holiday, cash flow into personal accounts rises sharply due to year-end bonuses, peak season revenue, and funds awaiting expenditure or investment. Many individuals face a dilemma with this large amount of short-term idle money: keep it in a checking account for easy spending but without earning interest, or deposit it into savings for interest, which reduces flexibility for urgent withdrawals or unexpected payments.
"Current users need flexible solutions," said Tran Thanh Hoai, senior advisor for individual customers at Techcombank. "They want their unused funds, even for just a few hours or overnight, to generate value, whether they are traveling, shopping, or giving lucky money at any time."
To address this challenge, Techcombank introduced its automatic earning solution for checking accounts. This system allows the account balance to earn daily interest based on the actual amount, eliminating the need for users to transfer funds to fixed-term savings or investment products.
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Techcombank automatic earning offers an interest rate of up to 5,5% per year. *Photo: Techcombank*
This mechanism allows the entire balance to earn interest, with no minimum threshold or separation between funds for spending and earning. Account holders can enjoy an annual yield of up to 5,5%, while their money remains readily available for 24/7 withdrawals and payments. This approach differs from many other market solutions that typically require a fixed minimum balance to earn interest, with only the excess available for transactions.
Amidst the continuously fluctuating cash flow during Tet, this model caters to diverse customer needs. Salaried employees can have their year-end bonuses earn daily interest while they await expenditure. For business households, peak season sales revenue is not "frozen" overnight, ensuring immediate payment capability the next day.
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Three steps to enable automatic earning on the Techcombank mobile app. *Photo: Techcombank*
Beyond generating profits on balances, this solution integrates with the bank's loyalty program. The earned money converts into U-Point reward points, which can be redeemed for shopping, dining, transportation, and travel offers from various brands during Tet.
Beyond the benefits, the bank prioritizes security. Techcombank's automatic earning operates on a digital banking platform, adhering to security standards set by the State Bank. This ensures users can confidently manage and use their money throughout the holiday period.
A bank representative stated that since its launch, the solution has attracted over 5 million users. This achievement has positioned Techcombank as the only Vietnamese bank to receive a Stevie Award in the "Excellence in Customer-Centric Product Design" category.
Minh Ngoc
