LPBank Deputy General Director: Loc Phat Profit has a profit margin 40 times higher than a regular account.

Mr. Dang Cong Hoan - Deputy General Director and Director of Retail Banking of Loc Phat Bank ( LPBank ) said: "With Sinh Loi Loc Phat, customers can clearly feel the ability to "save small amounts into big ones" from small amounts of money in their payment accounts, while creating a habit of accumulating and managing finances proactively and intelligently".

So what factors have made the Sinh Loi Loc Phat feature, and will continue to be the top choice for customers when looking for flexible financial solutions in management, spending and saving on a modern digital platform? Let LPBank experts reveal the outstanding advantages that this feature brings, helping customers optimize their finances effectively and intelligently.

Profit feature on LPBank digital banking platform.

Why did LPBank decide to launch the Prosperity Profit feature on payment accounts?

- Originating from the needs of customers in the process of using transaction services (Everyday Banking), they are always looking for products that are both flexible in spending transactions and optimize profits from idle balances to manage finances intelligently. By allowing customers to make profits on payment accounts, LPBank has brought a flexible and effective solution, helping to enhance the customer experience.

LPBank launched the Sinh Loi Loc Phat feature at a time when not many banks have implemented similar features.

On the one hand, creating highly attractive financial products that meet practical needs will help connect customers with the bank. On the other hand, this is also a strategic step to enhance LPBank's competitiveness and bring more and more added value to customers.

What are the strengths of the Sinh Loi Loc Phat feature?

- There are 3 main advantages that make the Sinh Loi Loc Phat feature different and attractive in the market.

First, it is an easy-to-join feature. Accordingly, the minimum balance to activate the profit threshold is only from 5 million VND, suitable for the spending needs of the majority of customers from the middle class and above. At the level of 5 million VND or less, customers enjoy the normal current interest rate. The amount exceeding the threshold of 5 million VND or more will be automatically transferred to the Loc Phat Profit compartment and will be applied a preferential interest rate of up to 4.3%/year (according to LPBank's policy in each period).

Second is the rate of return. Loc Phat Profit brings a rate of return more than 40 times higher than regular payment accounts at LPBank - an attractive profit figure in the current low interest rate context.

For example, when customers turn on the Sinh Loi Loc Phat feature, choose the minimum maintenance threshold of 5 million VND, this amount will be retained in the regular payment account, enjoying an interest rate of 0.1%/year. The remaining amount above the threshold of 5 million VND, the system will automatically transfer to the Sinh Loi Loc Phat compartment and apply a preferential interest rate of up to 4.3%/year (according to LPBank's policy in each period).

Third, the daily and flexible profit feature allows customers to actively withdraw money for spending and payment. This is a very convenient point when interest is paid daily, customers not only see their money earning profit every day, but can also easily use this interest for spending. Everything is automatic, simple, transparent.

What is the relationship between the Loc Phat Profit feature and LPBank's retail development strategy?

- Firstly, Sinh Loi Loc Phat is designed based on a deep understanding of customer needs. We realize that customer needs in this area are changing, they want financial solutions that are both safe and profitable. Sinh Loi Loc Phat was born to meet that exact need, thereby attracting and expanding the middle-class customer base - the potential customer group that LPBank is targeting.

Second, integrating the Sinh Loi Loc Phat feature on payment accounts contributes to promoting LPBank's digital transformation strategy, helping customers easily access and use services anytime, anywhere. This is an important step for LPBank to realize its goal of becoming the Top 1 retail bank in rural and urban areas of type 2 on a digital technology platform, in the new development phase from now until 2028.

Third, Sinh Loi Loc Phat not only benefits customers, but also optimizes LPBank's business operations. By encouraging customers to maintain balances in their accounts, LPBank can be more proactive in managing cash resources, minimizing costs, and improving operational efficiency.

From November 25, 2024, LPBank's Profitable Profit feature will be officially introduced to users. The product is a testament to the customer-centric motto and at the same time demonstrates the bank's strategic vision for sustainable development.

To activate the Sinh Loi Loc Phat feature, customers follow these instructions:

Step 1: Install LPBank App on Appstore/CH Play.

Step 2: Log in and successfully complete eKYC.

Step 3: Activate the Prosperity Profit feature.

Step 4: Declare information and set a threshold to maintain a minimum balance on the payment account.

Step 5: Experience the feature.

For more information about the program, customers can contact LPBank branches and transaction offices nationwide or contact hotline *8668/ 024 62 668 668 for support.

Source: https://dantri.com.vn/kinh-doanh/pho-tong-giam-doc-lpbank-sinh-loi-loc-phat-co-ty-suat-loi-nhuan-hon-40-lan-tai-khoan-thong-thuong-20250325062348363.htm