MB increases savings interest rates, allows early withdrawal with retained interest

MB adjusts maximum deposit interest rates up to 8.4% for terms from six months, while also launching a feature allowing customers to withdraw funds early and still receive corresponding interest.

For many years, savers have faced a common rule: early withdrawal of funds meant forfeiting all accumulated interest, with the principal only earning the lowest non-term interest rate. This presented a significant dilemma, forcing customers to choose between long-term deposits for higher returns or short-term deposits for flexibility.

To address this challenge, MB has introduced the "Super Savings" program, which allows customers to retain their full interest even when withdrawing funds before the maturity date. This mechanism operates through the TransferD savings book transfer feature on the MBBank app. Consequently, customers can transfer their savings books online to recover their capital and receive accrued interest, avoiding the previous penalty of early settlement at a non-term interest rate.

MB increases savings deposit interest rates to 8.4%. Photo: MB

Beyond flexible withdrawal, the program also offers a competitive interest rate of up to 8.4%. Customers can open savings accounts online via the MBBank app, under the "Deposits" section. The entire process of depositing and managing funds is available online 24/7 through the app or at branches, enabling customers to monitor and adjust their savings independently of traditional banking hours.

According to a bank representative, this mechanism enhances the flexibility of savings accounts for cash flow management, catering to diverse customer groups. Business owners and small traders can withdraw funds when needed for inventory or business operations. Individual savers, including homemakers and seniors, can proactively utilize their accumulated savings for unexpected needs. For investors, these deposits can serve as a highly liquid asset, easily reallocated when investment opportunities arise.

Amid increasing demand for flexible cash flow management, many banks are seeking to combine competitive deposit interest rates with product liquidity. MB's redesign of its deposit products is a proactive step to expand flexible savings solutions, aligning with current personal financial management needs.

Minh Ngoc

Interested readers can contact MB's 24/7 hotline at 1900545426 or 02437674050 for guidance on receiving savings interest rate increase vouchers.

By VnExpress: https://vnexpress.net/mb-tang-lai-suat-tiet-kiem-cho-phep-rut-truoc-han-van-huong-lai-5052340.html