According to a VIB representative, iDepo is a short-term deposit product operating entirely on a digital platform. This solution allows users to buy, sell, transfer, or designate buyers for their deposits anytime through the MyVIB app.

Notably, users can retain their accumulated interest even if they need to access their capital before maturity. iDepo is VIB's step towards personalizing the financial savings experience, catering to various customer groups.

The product supports denominations starting from 50 million VND with a 36-month term and pays interest every 6 months. Customers can easily choose options based on their long-term capital management, business capital, or investment waiting funds needs. Currently, the highest interest rates are 6.2% annually for VIB Premier customers, 6.1% annually for VIB Priority customers, and 6% annually for regular customers.

The iDepo solution is integrated into the MyVIB app. Photo: VIB

The iDepo solution is integrated into the MyVIB app. Photo: VIB

First launched in 2022, iDepo combined the security of term deposits with the flexibility of a secondary market. Customers could transfer, gift, or bequeath their deposits with flexible fees (no fees when transferring to designated acquaintances). At that time, VIB offered denominations from 10 million VND to 5 billion VND with a 24-month term. This catered to employees looking to profit from their savings, entrepreneurs, business individuals, and those with large capital but no defined usage plans.

This year, VIB has further developed the solution to be more flexible. It's no longer a standalone product but a pillar within the Smart Depo package. This package includes: Hi-Depo, i-1Depo, and iDepo.

According to Tuong Nguyen, VIB's Deputy General Director, iDepo has become a smart savings channel on a digital platform, easily accessible. From flexible investment levels and attractive interest rates to the ability to transact anytime, the solution offers a comprehensive experience for the savings needs of various customer groups.

Since 2022, VIB has improved iDepo to adapt to users' increasingly diverse needs. This development journey also reflects a customer-centric approach, building modern, accessible financial solutions aligned with digital trends.

In personal or business financial management, the need to save is ever-present. Traditional savings are often chosen for stability, but early withdrawals forfeit most accumulated interest, leaving customers with only the non-term rate. Conversely, investment channels like stocks and real estate require expertise and a high-risk tolerance. This leads many individuals with idle capital from tens of millions to billions of VND to seek a savings method balancing security and profitability.

Compared to traditional savings, iDepo offers more control. If customers need early access to funds, they can retain their accumulated interest through transfers. VIB also allows users to use iDepo as collateral for loans at banks or other credit institutions, as per regulations.

Saving with iDepo is simple through the MyVIB app. Customers open the MyVIB app, select "open account" - "smart savings", and the screen displays all three products: Hi-Depo, i-1Depo, and iDepo. Users can then choose the most suitable product.

On the same platform earlier this year, VIB also launched the Super Interest Account, a flexible product for smaller idle funds, with daily yields from 2.5% to 4.3% annually. Over half a million users have already joined this product.

According to a VIB representative, if Smart Depo is the foundation for plans calculated by weeks, months, or 6 months, then Super Interest is the tool to keep idle funds active. The product has attracted over half a million participants.

"By using iDepo alongside the Super Interest solution, customers have optimal tools to ensure their idle funds are always working," the representative said.

Hoang Dan