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Update of policy on using term deposit accounts for foreign individuals

Dear Valued Customer,

Pursuant to the provisions of Circular No. 49/2018/TT-NHNN dated 31 December 2018 of the State Bank of Vietnam on term deposits, Industrial and Commercial Bank of China Limited -   Hanoi City Branch (ICBC Hanoi Branch) would like to bring to your attention to a number of new contents relating to the policy of term deposit bank account for foreign individual customers as follows:

1, Subjects allowed to open term deposits: foreign individuals who are allowed to reside in Vietnam with a period of 6 (six) months or further.  Documents determining the residence period are visas or other documents determining residence period of individuals in Vietnam issued by Vietnamese competent authorities which are still in force.

2, Deposit term: must not be longer than the remaining validity period of the documents determining the residence period.

3, Customers can only open term deposits and receiving payment of term deposits through their own current accounts.

4, The Bank does not provide Internet Banking and Mobile Banking services for term deposit accounts.

For account holders of the existing term deposit accounts, please contact the Bank for instructions on updating the information on residence period and adjusting the  maturity date before 5 July 2019. After the above-mentioned time limit, the demand deposit interest rate shall be applied to all due deposits and customers must be present at the counter for further process.

Contact information:
Banking Department - ICBC Hanoi Branch, 1st Floor Daeha Business Center, 360 Kim Ma, Ba Dinh, Ha Noi.
Phone: (024) 6269 9818/(024) 6269 9830

Sincerely thanks!