Updates on Savings Deposit(s) and Time Deposit Account(s)
Dear Valued Customer,
HSBC Bank (Vietnam) Ltd. (“the Bank”) would like to express our sincere thanks for banking with us
We would like to provide you an update on local regulations regarding Savings Deposit and Time Deposit Account(s). According to Circular 48/2018/TT-NHNN and Circular 49/2018/TT-NHNN dated December 31st 2018 of the State Bank of Vietnam, from July 5th 2019,
Vietnamese resident citizens are eligible to open/ renew Savings Deposit(s) in VND and foreign currencies
Vietnamese non-resident citizens are eligible to open/ renew Savings Deposit(s) in VND
foreign individuals who are permitted to reside in Vietnam for at least 06 (six) months are eligible to open/ renew Time Deposit Account(s) and the deposit tenors of such deposit(s) shall not exceed the remaining validity period of visa/ resident card/ temporary resident card.
Pursuant to these Circulars, you are advised to update your personal records (if any) with the Bank by visiting any of our branches when opening deposit(s). Based on your provided information, the Bank will review and advise whether you can open/ renew Savings Deposit(s) and/or Time Deposit Account(s) at the point of opening/ renewal at counter.
If Time Deposit Account(s) is/are opened via Personal Internet Banking, the Bank will check its opening eligibility on the following working date of the Bank. If your visa/ resident card/ temporary resident card does not meet the local regulatory requirements, the Bank will:
close your Time Deposit Account(s) and credit both principles and interest amounts (if any) to your active transactional account(s) (Current Account(s)/ Savings Account(s)) which is/are being maintained at the Bank in the same currency with the Time Deposit Account(s); or
automatically continue to maintain your principles and interests accrued (if any) in Time Deposit Account(s) with 0% p.a. interest rate if you do not maintain any active Current Account(s)/ Savings Account(s) in the same currency with your Time Deposit Account(s) at the Bank.
Should you have any enquiry or need assistance, please write to us at direct@hsbc.com.vn or call our Contact Center at one of the following numbers:
