There is no signs of improvement in capital needs of individual customers, although commercial banks are continuously injecting capital for this group of clients.
Picking the season of consumer business this year, banks are pushing to pump capital for clients, including of individual customers. The negotiable lending rate is also more competitive than before, but total credit growth for this type of credits is difficult to improve.
From now until the end on November 11, 2010, TienPhong Bank – Thang Long Branch (Cau Giay District, Hanoi) is deploying incentive programme with a special 0 percent interest rate in the first month for customers in consumer debt ( buying cars, mortgages, or home repairs and others). This is seen as an opportunity for individuals in need of loans last year. SeABank, Eximbank, and DongA Bank are currently also applying "softer" negotiable lending rates than before, ranging from 14.5 to 15 percent per year for individual customers.
Orient Commercial Bank (OCB) has a lot of personal credit products, such as loans and home repair, consumer credit, production - business and securities-backed loans and overseas study loans.
Recently, the lender launched a credit programme called "Cars at hand" for customers who want to own a car, but not financially active.
Ms Mai Huynh Hoa, manager of the OCB's Product Development and Personal Customer Service said, depending on type of collaterals, the loan amount can be up to 100 percent of the vehicle with maximum loan period to 60 months. OCB does not charge early repayment, not to collect any appraisal fees, no management fee, instead customers pay 0.2 percent fee on the outstanding fines.
With products and services through the ACB online loan programme, which will be disbursed after 1 minute. Customers can use the deposit accounts for the term of this mortgage account balance of term deposits, overdrafts or loans secured by the balance of term deposits and disbursed at the deposit their payment.
Deputy general director cum director of ACB Individual Customers Services Bui Tan Tai said, the negotiable lending rate is applied to the programme on the reduction of about 0.4 percent compared to normal personal loans, that is only around 13 percent per year. This is considered a competitive interest rate on the market at present.
However, the loan amount must be less than the balance in deposit accounts with a term that customers use to balance or pledged to guaranteed loans for overdraft loans at the ACB.
But Tai also admits that the growth of personal outstanding loans in the past 9 months is not like last year. Currently, capital needs of individual customers are showing signs of a bit improvement, but difficult to spike, because with interest rates now, customers have access to capital constraints, even though interest rates have fallen more than the previous agreement amongst bank members.
Picking the season of consumer business this year, banks are pushing to pump capital for clients, including of individual customers. The negotiable lending rate is also more competitive than before, but total credit growth for this type of credits is difficult to improve.
From now until the end on November 11, 2010, TienPhong Bank – Thang Long Branch (Cau Giay District, Hanoi) is deploying incentive programme with a special 0 percent interest rate in the first month for customers in consumer debt ( buying cars, mortgages, or home repairs and others). This is seen as an opportunity for individuals in need of loans last year. SeABank, Eximbank, and DongA Bank are currently also applying "softer" negotiable lending rates than before, ranging from 14.5 to 15 percent per year for individual customers.
Orient Commercial Bank (OCB) has a lot of personal credit products, such as loans and home repair, consumer credit, production - business and securities-backed loans and overseas study loans.
Recently, the lender launched a credit programme called "Cars at hand" for customers who want to own a car, but not financially active.
Ms Mai Huynh Hoa, manager of the OCB's Product Development and Personal Customer Service said, depending on type of collaterals, the loan amount can be up to 100 percent of the vehicle with maximum loan period to 60 months. OCB does not charge early repayment, not to collect any appraisal fees, no management fee, instead customers pay 0.2 percent fee on the outstanding fines.
With products and services through the ACB online loan programme, which will be disbursed after 1 minute. Customers can use the deposit accounts for the term of this mortgage account balance of term deposits, overdrafts or loans secured by the balance of term deposits and disbursed at the deposit their payment.
Deputy general director cum director of ACB Individual Customers Services Bui Tan Tai said, the negotiable lending rate is applied to the programme on the reduction of about 0.4 percent compared to normal personal loans, that is only around 13 percent per year. This is considered a competitive interest rate on the market at present.
However, the loan amount must be less than the balance in deposit accounts with a term that customers use to balance or pledged to guaranteed loans for overdraft loans at the ACB.
But Tai also admits that the growth of personal outstanding loans in the past 9 months is not like last year. Currently, capital needs of individual customers are showing signs of a bit improvement, but difficult to spike, because with interest rates now, customers have access to capital constraints, even though interest rates have fallen more than the previous agreement amongst bank members.
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