Sharing at the conference with investors to update information on the first quarter of 2023 activities held recently, Mr. Dam The Thai - Deputy General Director of HD SAISON Finance Company Limited said that the above preferential loan package of 10,000 billion VND is being promoted, after establishing cooperation and connection points in localities since the end of 2022.
"This is a program to implement policies to support workers and laborers nationwide, following the direction of the State Bank," said Mr. Dam The Thai.
Actively deploy large-scale loan packages
Previously, in June 2022, HD SAISON announced the implementation of a VND 10,000 billion package, with preferential and lower interest rates than usual, for workers and laborers nationwide. This is the first time the Vietnamese consumer credit market has had a preferential loan package specifically for this group of subjects on such a large scale.
According to the representative of HD SAISON, after the Covid-19 pandemic, the accumulated resources of many workers and laborers have decreased, their lives have been affected, while the market still lacks reasonable and timely support credit programs and packages.
Faced with this reality, with the guidance of the State Bank, HD SAISON quickly built a separate preferential loan package, cooperating with the Vietnam General Confederation of Labor to connect and speed up the implementation process.
To date, HD SAISON has signed cooperation agreements with Labor Federations of 30 provinces and cities. It is expected that by the end of June 2023, the Company will sign with 63 Labor Federations of all provinces and cities across the country to continue expanding the implementation.
Along with the connection and introduction channels of the grassroots union system, through 24,500 financial transaction points of HD SAISON nationwide and the HD SAISON App, workers nationwide will easily register for a loan package of 10,000 billion VND with attractive interest rates, loan terms up to 24 months. The disbursement mechanism is flexible and convenient, you can borrow cash through the application and open a credit card.
In particular, when using the HD SAISON App, users only need less than 5 minutes to successfully create a loan application. With the technological utility, users do not need to enter data but the system will automatically update information through photo documents, helping the application appraisal time to take place quickly. In addition, the HD SAISON App is developed based on an intelligent AI algorithm that recognizes faces, helping to eliminate borrower impersonation and the use of non-owner documents...
Overcoming difficulties with workers
This is the first time that a large loan package has been designed and dedicated to workers across the country. If the starting point before was the need to promptly support workers and laborers after the Covid-19 pandemic, now the general context continues to pose a more urgent need.
HD SAISON representative acknowledged that after the pandemic, the financial conditions of many workers and laborers, which were already limited and difficult, are now even more difficult. Because the economy and production and business activities of many enterprises are facing a decline, while interest rates and consumer prices have increased sharply since the second half of 2022 until now, or most recently, the pressure from increasing electricity prices for industrial parks and export processing zones, as well as in daily life...
"That context further requires closer and more expanded companionship, so that the support capital becomes more timely and valuable to workers and laborers," said a representative of HD SAISON, adding that they are accelerating the implementation of the preferential loan package above.
Previously, due to the impact of the pandemic, experts raised concerns about the expansion of black credit in the lives of workers and laborers. Up to now, in the face of new difficulties in the economy, that concern has become even more prominent. Accordingly, the participation and efforts to implement large-scale preferential loan packages from financial companies have been and are making an important contribution to reducing the situation of usury in the economy, contributing more motivation for workers and laborers to stabilize their lives and work with peace of mind.
Not only actively implementing preferential loan packages to thousands of workers across the country, recently HD SAISON has also actively implemented attractive gift programs for those who successfully register for loan packages.
In April 2023, HD SAISON donated 500 million VND to workers in An Giang province after successfully registering for this preferential loan package and being approved. Following that, from May 5, 2023, HD SAISON donated up to 1 billion VND to 2,000 workers and laborers in Hung Yen province.
At the same time, with each approved loan application, each worker will be immediately issued an HD SAISON VISA international credit card by HD SAISON. This is a non-physical credit card (also known as a virtual card) with full payment features like a physical card (hard card), just need to activate to be able to pay and shop online immediately.
With constant needs such as rent, tuition, medical expenses, unexpected consumption needs... but limited cash, credit cards become a practical financial backup solution to help workers solve urgent needs immediately. And instead of having to pay all at once, workers can pay off the amount used from the credit card in installments within a maximum of 45 days without interest.
With preferential, convenient and timely programs being promoted nationwide, the efforts of HD SAISON (a member of HDBank) are contributing to adding motivation to help workers and laborers overcome difficulties. When there are financial solutions to stabilize and improve their lives, workers have more motivation and peace of mind in their work to contribute and join hands with businesses in the effort to promote economic recovery.
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