In the final months of the year, people's shopping and consumption needs increase significantly. Accordingly, along with interest rate reductions, credit institutions in the province are also stepping up lending to serve daily life and personal consumption with many preferential programs. This contributes to facilitating capital flow, limiting illegal lending, supporting output for production and business, and promoting economic growth.
To attract consumer loan customers, many commercial banks have recently designed diverse products, simplified loan procedures, competitive interest rates, and flexible repayment terms. Mr. Truong Nho Luu, originally from Hau Loc, working in Thanh Hoa City and currently renting in Tan Son ward, wanted to buy a plot of land to build a house and settle down. Unfortunately, his savings and parental support weren't enough. After much deliberation, Mr. Luu decided to borrow money from a bank, using the land he intended to buy as collateral. Fortunately, after proving sufficient income to repay the loan, and receiving financial assistance from the bank, the procedures were quite simple, allowing him to obtain the necessary capital to acquire the land and build his own house.
Ms. Tran Thanh Hong and her husband, from Phu Son ward, Thanh Hoa city, both work for a salary, making it difficult for them to save a large sum of money at once to buy valuable assets. When they decided to buy a car for the whole family, they decided to take out a bank loan and successfully purchased the vehicle last September. Ms. Hong said: "Taking out a loan to buy a house and a car has helped me reach my dream sooner and more easily."
As one of the most reputable banks, winning the "Best Retail Bank in Vietnam" award for many consecutive years, Vietnam Joint Stock Commercial Bank for Industry and Trade Thanh Hoa Branch (Vietinbank) always focuses on developing retail services to serve personal consumption with a network of 26 ATMs and 129,784 issued cards, more than 100 points providing services and goods transacted via POS machines, along with many modern and convenient payment methods such as VietinBank Ipay, VietinBank Efast, SMS Banking... Currently, the branch is diversifying retail services to meet customer needs, including: loans for production and business, consumer loans, and overdrafts through savings accounts. With a retail business strategy that places customers at the center of its retail banking and credit ecosystem, Vietinbank Thanh Hoa is continuing to expand new services such as using ATM cards and international credit cards to pay for purchases via POS/QRPay machines...
In addition, branches of Agribank, BIDV, Loc Phat Postal Bank, Techcombank, Military Bank, International Bank, Bac A Bank - Thanh Hoa Branch... have also proactively expanded retail services by offering preferential loans through various credit programs such as: loans for purchasing apartments, building new houses and renovating existing ones; preferential loans for production and business, supplementing working capital and installment payments for business capital; unsecured loans for purchasing cars for personal use... Retail credit programs are being actively exploited by banks and credit institutions in the area because they benefit both customers and banks in promoting loan growth. Along with promoting consumer credit, the State Bank of Vietnam - Thanh Hoa Provincial Branch has also directed credit institutions to strengthen communication about preferential loan packages, helping people have sufficient information and easily access official banking and financial services, avoiding the negative consequences of "illegal lending". Preferential loan programs are being implemented to make them easily accessible to the public. The State Bank of Vietnam - Thanh Hoa Provincial Branch also advises people to carefully research consumer loan packages offered by commercial banks and legitimate financial institutions before borrowing; at the same time, they should develop a comprehensive financial plan that suits their income and repayment ability to avoid loans becoming bad debts, causing customers to lose credibility with banks, and leading to negative consequences for themselves as well as disrupting social order and security.
Text and photos: Luong Khanh
Source: https://baothanhhoa.vn/day-manh-cho-vay-tieu-dung-nhung-thang-cuoi-nam-227744.htm
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