ANTD.VN - Vietnam Prosperity Commercial Bank ( VPBank ) has just launched a preferential loan package totaling VND 13,000 billion for individual customers needing loans for car purchases, business production, home purchases, and consumer loans with attractive interest rates starting from only 5% per year, loan-to-value ratios up to 85%, and a maximum loan term of up to 35 years. Notably, these loan packages all have super-fast approval times, within just 5 minutes through the VPBank Race automated approval system.
To stimulate credit demand, contribute to economic development, and encourage people to make more confident decisions in investment, production, and business, VPBank recently launched three preferential interest rate loan packages for individual customers, including home loans, car loans, and business loans, with interest rates starting from only 5% per year. This is considered the most competitive interest rate on the market to date.
Following the State Bank of Vietnam's directive to implement various credit solutions and direct credit towards production and business activities, VPBank's business loan package is designed with a fixed interest rate of only 5% per year for the first 6 months. This loan package applies to individual customers, including sole proprietorships and family businesses. The loan-to-value ratio is up to 80% of the collateral value, with a maximum loan amount of 20 billion VND and a loan term of up to 15 years.
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The credit package is worth up to 13,000 billion VND. |
In addition, VPBank has also introduced many solutions to support, resolve, and promote the safe and sustainable development of the real estate market, while gradually addressing the housing problem for the people. VPBank's preferential interest rate package for home loan customers offers interest rates starting from only 5.9% per year, with disbursement up to 80% of the collateral value and a maximum loan amount of 20 billion VND. The loan term is up to 35 years.
Specifically for car loans, VPBank currently applies an interest rate of only 7% per year, with a loan-to-value ratio of up to 85% of the vehicle's value and a loan term of 8 years.
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Car loans with interest rates starting from just 7% per year. |
The unique feature of all three loan packages is that customers only need to prove their income through self-declaration, and the approval time is only within 5 minutes via the VPBank RACE application. Customers only need to provide basic personal information; no income verification documents are required. The system will check and provide loan approval results within 5 minutes. The application operates based on intelligent scoring technology combined with accurate OCR technology, helping the bank significantly increase its ability to digitize documents and process applications for automatic and rapid loan approval.
A representative from VPBank stated that, on average over the past two years, the number of customers borrowing from VPBank has increased by approximately 30% per year. The current number of customers with loans at VPBank is nearly 165,000, primarily for car purchases and business production. “We expect that these three preferential interest rate loan packages will help people easily access capital, expand their production and business activities, and promote the country's economic development,” the representative added.
Previously, following the directives of the State Bank of Vietnam, in addition to reducing deposit interest rates, VPBank also implemented several reductions of 1.5% per year in lending interest rates for existing medium and long-term loans that had not previously been subject to competitive interest rates.
This program is valid from now until December 31, 2023. For more details, please contact Hotline 1900 545 415 or 024 3928 8880 or see here.
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