Overdraft Loan: Flexible Financial Solution - Lang Son Newspaper and Radio and Television Station

Agribank Lang Son staff promote and advise customers about overdraft loan services

Overdraft loan is a service that allows customers to spend more than the actual amount of money in their accounts, provided by commercial banks in the province to meet people's borrowing needs to perform payment services.

Vietnam Bank for Agriculture and Rural Development, Lang Son Branch (Agribank Lang Son) is one of the typical units in implementing overdraft loan products. Accordingly, Agribank Lang Son currently has 6 loan product packages according to overdraft limits suitable for each subject and customer group. In particular, for the group of individual customers borrowing based on income from salary, the bank grants a maximum overdraft limit of 12 months' salary (depending on each subject); individual customers can borrow with a maximum limit of 5 billion VND; corporate customers can borrow with a maximum limit of 10 billion VND.

Mr. Nguyen Hong Duc, Director of Agribank Lang Son said: In order to effectively implement the overdraft loan service, recently, Agribank Lang Son has directed Agribank branches in districts and cities to create maximum conditions for people to access this loan service. In addition, the branch has directed staff to promote propaganda to people about the benefits of the loan service; coordinate with units to guide customers to complete procedures and documents for quick and timely disbursement. Currently, Agribank Lang Son has 14,587 overdraft customers with outstanding loans of over 1,150 billion VND.

Similarly, the Vietnam Joint Stock Commercial Bank for Investment and Development, Lang Son Branch (BIDV Lang Son) is providing a variety of overdraft loan products such as: business overdraft; consumer overdraft secured by real estate; unsecured consumer overdraft; overdraft secured by savings books. Mr. Hoang Van Huy, Deputy Director of BIDV Lang Son, said: To create maximum convenience for customers taking out overdraft loans, in recent times, the bank has continuously improved loan procedures and shortened loan terms for customers. When taking out an overdraft loan, interest will be calculated based on the total amount spent and the time of actual outstanding debt, not calculated on the entire granted limit. Therefore, this is considered a flexible form of lending, suitable for many types of customers. Currently, BIDV Lang Son has over 1,000 overdraft customers with outstanding loans of more than 400 billion VND.

Along with the two banks mentioned above, currently, commercial banks in the province have launched overdraft loan products with flexible loan limits and terms to meet the capital needs of many customers. For example, Saigon - Hanoi Commercial Joint Stock Bank (SHB) Lang Son Branch has implemented many incentives for customers who are officials, employees of state agencies and enterprises with a maximum overdraft loan limit of VND 500 million/person; Vietnam Joint Stock Commercial Bank for Industry and Trade (Viettinbank) Lang Son Branch offers unsecured online overdraft loans for customers who pay their salaries through the bank with a maximum limit of VND 100 million...

Ms. Trieu Thi Huyen, a teacher at Van Lang High School, Van Lang District, said: Every month, I receive my salary through an Agribank account, the basic amount is enough to cover family expenses. In March 2025, I borrowed an overdraft with a limit of 80 million VND from Agribank Van Lang to solve urgent matters. I find that overdraft loans have very flexible interest rates, for example, I borrowed with a limit of 80 million VND, but this month I spend 5 million VND, I only have to pay interest for 5 million VND. Next month, however much I use, I will pay the same interest rate.

Currently, overdraft borrowers at banks are not only employees working at units that pay salaries through banks, but also extended to business households and enterprises borrowing capital for production. There are many forms of overdraft loans such as: unsecured loans, mortgage loans, credit card overdraft loans, online overdraft loans, savings account overdraft loans. For each borrower, the bank will establish different limits based on 2 factors: actual needs and financial capacity of the customer to ensure debt repayment.

With flexible loan limits and terms, overdraft loans via bank accounts have helped banks promote the development of digital lending, while helping people easily access legitimate and reliable financial services, minimizing the risk of borrowing interest outside and encountering "black credit". However, customers also need to have a spending plan and consider their ability to pay to use the appropriate overdraft limit.

Source: https://baolangson.vn/vay-thau-chi-giai-phap-tai-chinh-linh-hoat-5047871.html