Dear Valued Customer,

Saigon-Hanoi Commercial Joint Stock Bank (SHB) would like to sincerely thank you for trusting and using SHB products and services during the past time.

According to the Regulation on savings deposit issued together with Decision No. 1160/2004/QD-NHNN dated September 13th, 2004 of the Governor of the State Bank of Vietnam (amended and supplemented under Decision No. 47/2006/QD-NHNN), foreign individuals living and operating legally in Vietnam are allowed to deposit their savings in Vietnamese Dong.

However, from July 5th, 2019, according to Circular No. 48/2018/TT-NHNN of the State Bank of Vietnam stipulating Savings Deposits, those who are allowed to deposit in the form of Savings Deposits (Savings Books) at credit institutions (CIs) only include Vietnamese citizens. At the same time, foreign individuals living and operating legally in Vietnam are allowed to deposit in the form of Term Deposits at credit institutions (i.e. Deposit Contracts, in both Vietnamese Dong and foreign currencies) according to Circular No. 49/2018/TT-NHNN of the State Bank of Vietnam stipulating Term Deposits.

To ensure compliance with the law as well as to ensure your deposit benefits, SHB would like to inform about the plan to convert Savings Books of foreign customers as follows:

1. For savings books opened before July 5th, 2019 but not yet mature, SHB will continue to implement agreements committed with customers until the nearest maturity date of the books.
2. When the savings book reaches the nearest maturity date, please come to SHB’s transaction points to close the savings book or to convert it to term deposit (i.e. term deposit contract).
3. In case customer does not come to close the savings book or to convert it to term deposit (i.e. term deposit contract), SHB will close the savings book and transfer all principal and interests to an appropriate account of the Bank to manage (customers will not be entitled to any additional interests on the entire principal and interests of the closed savings book from the maturity date of the savings book).

For any arising problems, please contact us via the hotline 1800588856 or visit any of our transaction points for assistance.

SHB is committed to always accompanying you and ensuring your maximum benefits.

Thank you very much!