German study abroad account - New and convenient product package

(Baonghean) - VietinBank is the first Vietnamese bank to be present in the Federal Republic of Germany, and is also the first Vietnamese bank to launch a German study abroad account product with many outstanding benefits... Currently, VietinBank Vinh City branch is actively promoting this product.

As the first Vietnamese bank present in the Federal Republic of Germany with 2 branches in Frankfurt and Berlin, in 2012, VietinBank officially launched the German student account product. The blocked account for German students is a form of payment deposit account opened by the Vietnam Joint Stock Commercial Bank for Industry and Trade - German Branch in coordination with the NHCT branch in Vietnam for Vietnamese students who need to apply for a student visa in Germany, in the form of a blocked account according to the regulations of the German Embassy in Vietnam to prove financial resources. Applicable subjects: Vietnamese citizens or foreigners living and working legally in Vietnam.

Global Company consulting on studying abroad in Germany.

Ms. Le Thi Anh Ngoc - Deputy Head of Accounting Department of Vinh City Industrial and Commercial Bank said that this is a payment deposit account in EUR in the form of a blocked account according to regulations. Customers can open a VietinBank - German Branch account at any VietinBank branch in all 63 provinces and cities of Vietnam. Customers will be fully guided and have their documents transferred to Germany promptly and will have an account number within a maximum of 2 working days, thereby helping them to transfer money quickly and Vietnam Industrial and Commercial Bank - German Branch will provide a certificate of account balance to complete the visa application procedure at the German Embassy.

The application for opening an account includes: Passport valid for at least 6 months; household registration/ID card with valid term to verify permanent address. Admission notice from a German university/college or certificate of pre-registration for a place at a university/college. Or certificate (final notice) from the agency assessing university/college application. The monthly withdrawal amount during the student's study in the Federal Republic of Germany is implemented according to the regulations of the German Embassy in Vietnam on student visa procedures in each period.

This product has been highly appreciated by the German Embassy, ​​because it actively supports Vietnamese students to study in Germany easily, quickly, and cost-effectively. By opening a German study abroad account, customers can make payments for electricity, water, telephone, Internet and regular expenses to suppliers periodically through payment authorization services provided by NHCT Vietnam - German Branch (within the allowed monthly spending limit); can register to use internet banking to inquire, make money transfers to other payment deposit accounts opened at NHCT Germany Branch or accounts at other banks; can be issued ATM cards for spending, withdrawing money; are provided with account statements, year-end tax statements; are insured for deposits up to 100% of the account balance.

In addition, VietinBank also supports loans for study abroad costs (including money transferred to Germany and other study abroad costs) with a loan amount of up to 70% of the total cost and a maximum loan period equal to the course duration plus 3 years.

“Starting to promote service development since April 2014, up to now, there have been more than 300 applications to open accounts at Vinh City Branch. We are continuing to work with study abroad brokerage centers in the three provinces of Nghe An, Ha Tinh, Quang Binh to introduce the product. This is a new, convenient, time-saving and cost-effective product that is very useful for students studying in Germany, parents and students who need to refer to it.” - Ms. Le Thi Anh Ngoc added.

Viet Phuong