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A bank staff is guiding a customer to finish loan lending procedure |
After reducing deposit interest rates, many commercial banks have announced flexible and fast lending procedures to meet the needs of customers’ fast capital disbursement.
For instance, Ban Viet Bank yesterday announced that it has launched a flexible 24-hour loan package, for business households and small businesses that need loans for production, business, processing, processing, and commerce with financial collateral - customers’ houses.
Accordingly, business households and small businesses in need can borrow up to VND 2 billion with a maximum loan period of 60 months with an interest rate of 10.5 percent a year. Businesses will get loan approval within a few hours, with disbursements between 24-48 hours after the application approval.
Similarly, OCB leaders also said that a credit package of VND 1,000 billion was approved to support small and medium-sized enterprises which want to borrow lends. The credit package is available from now until the end of June 30. In addition to reducing interest rates by 2 percent for short-term and medium-long-term loans, OCB proactively reduced lending conditions and procedures to make it easier for businesses to access the loan.
Moreover, the OCB's representative informed that commercial banks are tending to decrease deposit rates following the direction of the State Bank and the lending interest rate in the near future could completely return to 8-9 percent a year.
A representative of VIB also said that currently individual customers and micro-enterprises with regular transactions at the bank enjoy an interest rate of only 9.5 percent a year when borrowing additional working capital, which is a reduction of about approximately 2 percent compared to the normal interest rate. VIB also improved the process with simple loan procedures and disbursements will be done two days after the application approval.
Currently, Vietbank is providing loans to supplement working capital with a loan amount of up to VND 8 billion with a 12-month-term loan. Particularly, with a loan of VND 3 billion, customers can borrow for up to 240 months with simple loan dossiers. Businesses’ loan application is processed within 24 hours and business owners will have the funds in hand within 30 minutes
