Agribank will apply a consumer lending package of about VNĐ5 trillion with quick procedures and documents for poor borrowers. — Photo AgribankViet Nam News HÀ NỘI — The Government will double the credit limit for poor people seeking loans without collateral, as part of efforts to reduce poverty and prevent loan sharks. Under a new decision, which will take effect from March 1 this year, poor households will be allowed to borrow a maximum of VNĐ100 million (US$4,300) instead of VNĐ50 million as before, for up to 120 months from the Vietnam Bank for Social Policies (VBSP) and the Bank for Agriculture and Rural Development (Agribank). Besides poverty reduction, the new policy on increasing the limits of unsecured loans given by banks to the poor is also aimed to prevent those people from approaching loan sharks with exorbitant interest rates. The number of loan sharks preying on vulnerable people has increased sharply recently … [Read more...] about Credit limit to double for the poor
Paypal extras mastercard credit limit
Banks won’t get higher credit limits
Commercial banks will not be allowed to get higher credit limits in H2 2018. - VNA/VNS PhotoViet Nam News HÀ NỘI — The State Bank of Việt Nam (SBV) will not adjust upward credit growth limits for commercial banks, except in some special cases, for the rest of the year, SBV Governor Lê Minh Hưng said. The special cases are banks that have been required by the SBV to support ailing credit institutions in their restructuring in 2018, Hưng said. According to current regulations, SBV sets a credit growth limit for each commercial bank depending on the bank’s health at the beginning of the year. This is done to control credit growth for the entire banking system and to support Government targets. Earlier, many banks said they were hoping for higher credit limits as they had already used up most, if not all, of their assigned quota for the year. The central bank’s target this year was to expand lending by a maximum of 17 … [Read more...] about Banks won’t get higher credit limits
Banks expect higher credit limit amid quota concerns
Many commercial banks said they expect higher credit limits as they have already used up most, if not all, of their assigned quota for the whole year. According to the current regulation, the State Bank of Viet Nam (SBV) sets credit growth limits for each commercial bank depending on the bank’s health at the beginning of the year. This was done to control credit growth for the entire banking system and to support government targets. A bank CEO who declined to be named said his bank was granted a 14 per cent credit growth quota in 2018 and had so far used up nearly 10 per cent. However, this is not a surprise as many banks have reported high credit growth in the first few months of the year. For example, Military Bank’s outstanding loan by the end of the first quarter has already met 89 per cent of its annual target. HDBank also posted total outstanding loan of VND110.99 trillion (US$4.86 billion) in the first three months of this year, up 30 per cent year-on-year. According … [Read more...] about Banks expect higher credit limit amid quota concerns
VIB issues VIB World MasterCard with massive incentives
The brand new premium VIB World MasterCard credit card offers impressive rewards and benefits for cardholders, including a credit limit of VND1.2 billion ($52.6 million), up to 10 per cent cash back on dining expenses during a trip abroad, and free services in more than 850 VIP lounges at airports around the world. VIB issues VIB World MasterCard credit card with massive incentives Vietnam International Commercial Joint Stock Bank (VIB) last week officially launched its premium credit card VIB World MasterCard, with many features and benefits which are said to be outstanding in the market. It brings utilities and special offers for eating, travelling, relaxation, and shopping to cardholders who go on business or travel abroad. In specific, VIB World MasterCard cardholders can use a credit limit of up to VND1.2 billion ($52.6 million) with an interest rate of 0 per cent for 55 days. Besides, cardholders can get many offers at airports, such as using free services up to four … [Read more...] about VIB issues VIB World MasterCard with massive incentives
VIB launches premium World MasterCard credit card
Clients register for opening credit cards at a VIB branch in Ha Noi. — VNS Photo Vietnam International Commercial Joint Stock Bank (VIB) last week launched a premium credit card —VIB World MasterCard. The card provides special offers on dining, travelling, relaxing and shopping to cardholders who often go on business or travel aboard. By now, banks in Viet Nam have introduced many kinds of credit cards designed to meet the needs of each group of customers, ranging from common consumers to businesspeople. “VIB World MasterCard credit card has been designed for the convenience and benefits of cardholders, specifically those who often travel within the country or abroad, be it for personal or business reasons,” VIB said in a statement. VIB World MasterCard cardholders can use a credit limit of up to VND1.2 billion (nearly US$53,000), with an interest rate of zero per cent within 55 days. Cardholders can get many offers at airports, such as free services up to … [Read more...] about VIB launches premium World MasterCard credit card