Dear our valued customers,

Shinhan Bank Vietnam Limited (“Bank”) would like to express our sincere thanks to you for your continued trust and loyalty to our services.

Regarding to opening time deposits and saving deposits of foreigners at credit institutions in accordance with the Circulars No. 48 & 49/2018/TT-NHNN of State Bank of Vietnam, we would like to note you some changes applied from 5 July 2019 (“Effective Date”) as below:

1. Deposit in Cash: Time Saving Account

From the Effective Date, Time Saving Account will be applied to Vietnamese only, not applied to foreigners. Your existing Time Saving Account(s) opened before the Effective Date will be remained until its/their maturity date and then all outstanding amounts thereof will be paid to you in cash without any interest from its/their maturity date. Please visit any our Branch/ Transaction Office for further advice.

2. Deposit by Transfer: Time Deposit/ Installment Account 

Only foreigners granted valid visa or resident card to reside in Vietnam for at least 6 months are eligible to open Time Deposit/ Installment Accounts. Therefore, please kindly provide your valid visa or resident card to open or renew your Time Deposit/Installment Account(s) at any our Branch/ Transaction Office.

In case, it is not provided or does not satisfy the requirement above, your existing Time Deposit/Installment Account(s) will be automatically closed and all outstanding amounts will be transferred to your Demand Deposit Account on the expired date of such Time Deposit/ Installment Account(s).

The term of Time Deposit/ Installment Accounts opened on or after the Effective Date or opened before the Effective Date but renewed on or after the Effective Date shall not exceed your expiry date of the valid resident card or visa.

If you need details further, please visit any our Branch/Transaction Office.

Sincerely yours,

Shinhan Bank Vietnam Limited

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