In order to help customers proactively manage transactions and use banking services during the 2024 New Year holiday, banks have announced the schedule for providing banking services during this time.

Accordingly, the holiday is Monday, January 1, 2024; trading resumes from Tuesday, January 2, 2024.

During the holiday, services and features will be temporarily suspended, including: Services at branches and transaction counters; regular interbank transfer transactions (done via Internet Banking website and app versions); online loan registration or overdraft opening (done via website and app versions).

Due to the New Year holiday on Monday, the above services will also be temporarily interrupted on Saturday (December 30) and Sunday (December 31). The interruption time depends on the banks' regular Saturday work schedule.

Some banks or bank branches close their branches and transaction counters every Saturday morning, but many banks still maintain their branch and transaction counter working schedules every Saturday morning.

Therefore, the time of service provision/suspension depends on the Saturday morning working schedule of each bank.

For example, at VPBank, the bank said that its branches and transaction counters will still operate on Saturday morning (December 30) and will temporarily suspend transactions from 12:00 noon the same day, and resume operations from January 2, 2024.

However, regular interbank transfers will also be suspended from 4:00 p.m. on Friday, December 29, 2023. These transactions will resume from January 2, 2024.

Online loan registration or overdraft services will temporarily stop accepting registration/disbursement from 5:00 p.m. on Friday, December 29, 2023 and will be disbursed on the next working day, January 2, 2024.

However, services still provided by banks during the holidays include: 24/7 fast transfer feature via Internet Banking, ATM/CDM and internal transfer.

In addition, customers can still perform transactions on the electronic banking application such as: Register to open a credit card, activate/unlock/lock a credit card; Pay credit card balance; Register for automatic debit; Pay bills, top up services;...

How do banks calculate savings interest rates on holidays?

According to VPBank's announcement, online term deposit transactions will have interest calculated by the bank as follows:

New savings opened from 11:00 p.m. on December 30, 2023 will be calculated interest starting from December 31, 2023;

New savings opened from 7:00 p.m. on December 31, 2023 will be calculated interest starting from January 1, 2024;

New savings opened from 5:00 p.m. on January 1, 2024 will be calculated interest starting from January 2, 2024.

Online and counter savings deposits with automatic renewal terms that coincide with holidays (December 31, 2023 - January 1, 2024) will still be renewed normally by the system.

Online and counter savings deposits that are not automatically renewed and whose maturity date coincides with a holiday will be automatically settled as follows:

Savings deposits with a maturity date of December 31, 2023 will be automatically settled at 2:00 a.m. on December 31, 2023;

Savings deposits with a maturity date of January 1, 2024 will be automatically settled at 10:00 p.m. on December 31, 2023;

Savings deposits with a maturity date of January 2, 2024 will be automatically settled at 8:00 p.m. on January 1, 2024.

The term interest rate period will be calculated based on the actual number of days of the deposit.

Savings deposits with scheduled deposits on December 30, 2023 - January 2, 2024 will be automatically deducted according to the following schedule:

If the appointment date falls on December 30, 2023, the system will automatically deduct at 8:00 p.m. on December 30, 2023; If the appointment date falls on December 31, 2023, the system will automatically deduct at 4:00 p.m. on December 31, 2023; If the appointment date falls on January 1, 2024, the system will automatically deduct at 2:00 p.m. on January 1, 2024; If the appointment date falls on January 2, 2024, the system will automatically deduct at 6:00 p.m. on January 2, 2024

Subsequent periods will still follow the previously set schedule.

This is also the interest calculation method commonly applied at most banks.

The bank also noted that for loans secured by savings books with a maturity date coinciding with the maturity date of the savings deposit and the final settlement date coinciding with December 31, 2023 - January 1, 2024, the loan will be rescheduled to January 2, 2024; the savings book will be automatically renewed to the next term on December 31, 2023 - January 1, 2024.