Many banks have implemented a wide range of preferential credit products and programs to boost credit growth.
The Hai Duong branch of Ocean Commercial Joint Stock Bank is implementing many preferential programs and products to stimulate credit demands
As the Lunar New Year’s coming, many banks in Hai Duong province have implemented a wide range of preferential credit products and programs promoting production, trading, and needs of commercial procurement for Lunar New Year, house repair, shopping for commoditie and cars, etc. to boost credit growth.
Many preferential products
The Hai Duong branch of Ho Chi Minh City Housing Development Commercial Joint Stock Bank (HDBank) is implementing many preferential credit programs and products for enterprises and business households with goods speculation demand or individual customers shopping for year-end consumption.
The program of “Borrowing money, making fortunes” is applied to individual customers as advance-against collateral for purchase of houses, land, or cars, house construction or repair, or other consumption.
In addition, the program also allows customers to borrow additional working capital, installment credit for production and trading (P&T), medium- and long-term credits for P&T, etc. The minimum interest rate for loans from VND500 million upward is 6.8%/ year. For loans of less than VND500 million, Hai Duong HDBank applies a minimum interest rate of 8.6%/ year.
Apart from this program, Hai Duong HD Bank is also applying the program of “Super preferential lending rates for corporate customers” with interest rates ranging from 6.8% to 9.9%/ year depending on the purpose and term of loans.
The Hai Duong branch of Asia Commercial Joint Stock Bank (ACB) is also carrying out a lot of credit demand stimulus programs. The program of “Loans for small traders” is aimed at financially assisting households doing business in markets and trade centers with preferential interest rates calculated on a descending debit balance to serve their P&T. The loan amount will depend on the demand and value of collateral and loan terms are up to seven years.
Hai Duong ACB also assists customers with simple borrowing dossiers, quick and simplified procedures, and home advice on loan packages given by its employees.
Besides, Hai Duong ACB is also implementing the loan program of “24-hour flexibility” to supplement capital to P&T activities and services during holiday and New Year seasons with procedures quickly solved within 24 hours upon receipt of sufficient dossiers.
Hai Duong, Hai Duong Industrial Zone, and Nhi Chieu branches of Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) are also deploying programs to assist enterprises to access to low prime cost sources for their P&T.
When borrowing capital at VietinBank, new corporate customers will enjoy special preferential interest rates, only from 5%/year with a preferential period of up to six months for short-term loans or slightly higher, only from 6.5%/year, with a maximum preferential period of 12 months as medium- and long-term loans.
Credit growth remains difficult
Ms. Luong Thi Yen, Deputy Director of the Hai Duong branch of Mekong Housing Bank (MHB), said the bank’s disbursement speed remained slow despite its implementation of various promoting programs and products with preferential interest rates.
According to figures of the Hai Duong branch of the State Bank of Vietnam, total debit balance in 2014 of provincial credit institutions was estimated at VND37,800 billion, 5.5% increase over 2013. Although the debit balance has started to grow positively in the last three months of the year, credit stimulus measures currently being taken by banks still cannot help the growth rate meet the expected result because of negative growth in the first previous nine months.
VI THUY
Đăng ký: VietNam News
