Shinhan Bank Vietnam Limited is offering a new time deposit product on its mobile banking SOL application with double the normal interest in the first month meaning customers can get up to 10 per cent.

Available to both Vietnamese and foreigners, it can be opened with a minimum of VND10 million (US$430.06) and six months.

Furthermore, customers can open and operate the account completely online without having to go to the bank.

Kang Gew Won, CEO of Shinhan Bank Vietnam, said: “Comprehensive digital transformation is Shinhan Bank's top priority. Our bank has been developing specific plans to improve the digital eco-system on mobile banking SOL application by encouraging the development of financial products and services on this convenient platform.

“In addition to deposit products, Shinhan Bank has been making efforts to launch digital loan services and card opening with several utilities on this application.” — VNS