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Retail Bond

Retail Bond

Benefits - Risk


  • Government bond is a risk-free asset, with the risk of default  close to zero and providing regular income (coupon) to the holder ;
  • Customer may receive a higher return when the bond prices go up;
  • High liquidity: in case of financial need, Customer can easily convert bond to cash by using a repurchase agreement (Repo) or borrowing money (bond used as collateral) with any bank and resell in the secondary market;
  • Issuer risk: since the bonds are issued and guaranteed by the Government and thus the issuer risk is very low;
  • Certain cashflow: the bond is essentially a loan with a principal and interest are paid at the  pre-determined points of time to help Customer in building their portfolio easily since cash flows have been clearly identified;
  • Periodic coupon payments that customers receive are exempted from income tax.


  • Market yields of the bonds can increase compared to the interest rate at the time of  investment cause the investment value of customers to drop if liquidated;
  • Despite Government bonds have a very low level of risk there is still a probability of default of the issuer.

Conditions and Documents

Trading Conditions:

  • Customer must have a custody account at Securities firm and a settlement account at Bank;
  • Customers must sign principal contract with Sacombank before executing transactions;
  • Minimum transaction amount between Sacombank and customers:
    - Individual customers: 100 million vnd/ transaction.
    - Corporate customers: 300 million vnd/transaction.

Transactions processing:

  • Customer can contact directly with the Capital Market Department,Sacombank Head Office or indirectly via Sacombank Branches or Transaction Points;
  • After finishing the negotiation, Customer is required to sign and send back the Transaction Agreement template to the Internal Payment Center, Sacombank H.O. via fax number (08) 39321447;
  • Also, Customer is required to fill the Order Request template (produced by Securities firm where Customer opens a custody account). Sacombank Branches/Transaction points may support if needed);
  • Sacombank and the Securities firm will excecute Customer's trade on the Bond Trading System which is managed by Hanoi Stock Exchange on the Order Placement Date.

For further information, please contact any nearest Sacombank Transaction Point or Capital Market Dept : 08 62884121/ 08 62884123

Bonds Information

  • Bond: is a debt certificate represents the obligation of the issuer to repay the bondholders a specified amount (face value of the bonds), over a period with a predetermined interest (coupon)
  • Types of bonds:
    Government bonds
    Government Guaranteed bonds
    Municipal bonds
  • The Par value of a bond:  is the stated value  at the time it is issued and also be considered as the value upon redemption at maturity.
  • The nominal interest rate (coupon rate):  is the rate that is usually stated on the bond certificate, it represents the annual coupon payments paid by the issuer relative to the bond's par value.
  • Coupon payment period: the period in which the issuer pays interest to the bondholders. Bond interest rates are stated on an semi-annual basis, but the coupon payments are usually paid once or twice a year.
  • Bond yield: the internal rate of return of an investment in a the bond when customers hold the bond to maturity, bonds can be traded on the market therefore bond prices vary according to market supply and demand daily and not necessarily equal to the par value.
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