1. Discount valuable papers
2. Advances for the sale of securities
3. Bank guarantee
Discount valuable papers
Target customers: Customers are the holders of valuable papers whose payments are not yet due, and they need funds to operate business or to purchase goods for personal purposes but do not desire to carry loan applications.
Discounting conditions
- Valuable papers are legally owned by the customers;
- Valuable papers can be negotiable under regulations of the issuing institutions;
- Accepted types of valuable papers and issuing institutions are regulated by VietinBank;
- Discounting terms: do not exceed the remaining maturity of the valuable papers.
Product benefits
- Simple procedure; customers get cash immediately after the discounting procedure;
- Higher amount paid, depending on the value of the valuable papers;
- Flexible discounting method (full amount discounted within the discounting term) suitable for customers’ needs.
Interest rates and fees
- Favorable discounting rates.
Discounting application form
- Discounting request form provided by VietinBank
- Valuable papers to be used for the discounting
Advances for the sale of securities
Target customers: customers who order to sell securities and the sell orders have been matched; they need advances for the sale of securities to reinvest or to consume.
Conditions for advances
- Open trading account with securities companies which are partners with VietinBank.
- Confirmed to have had sell orders matched by security companies/branches of security companies or trading room of VietinBank security company/transaction support points of VietinBank security company.
- Conditions for disbursement: a written notification / confirmation of matched orders issued by security companies.
- Collateral method: borrowers pledge the right to receive proceeds from the sale of securities as collateral.
Product utility
- Lending Currency: VND
- Maximum amount for advance: the value of the matched trading order minus brokerage fee, estimated interest and other charges (matched order confirmation fee and other fees if any).
- Advance mechanism: per time advance or credit line.
- Maximum loan term: settlement time (T+n) including days-off and holidays. Interest rate and fee
- Lending interest rate: apply negotiated rate in accordance with VietinBank’s regulations on consumer lending interest rate in each period.
- Fee: apply current fee structure of VietinBank (if any) Advance application
- Requested form for advance for the sale of securities;
- Credit contract;
- Debt certificate (if use credit line mechanism);
- Written notification/confirmation of matched sell orders.
Bank guarantee
Target customers: customers who demand bank guarantee for the implementation of the obligations in the economic and civil transactions.
Guarantee conditions:
- Granted by Vietinbank the guarantee limit line / trade finance limit line (which are still effective and satisfying the attached conditions to use the guarantee limit line/trade finance limit line - if any) or qualify to be granted such limit lines.
- Purposes for requesting bank guarantee are legal.
- Be capable of conducting obligations guaranteed by VietinBank.
- Provide necessary information on the guarantee request, this information is updated up to the guarantee initiation time according to the requests of the guarantee bank.
- Apply the collateral method according to current VietinBank’s regulations (except for the case customers are granted secured guarantee limit line)
Product utility
- Lending currency: VND or foreign currency;
- Diversified types of guarantee, depending on customer needs:
- Guarantee for loans
- Guarantee for repayment of advance
- Guarantee for product quality.
- Guarantee for payment.
- Guarantee for contract performance.
- Guarantee the warranty
- Bid bond
- Other guarantees permitted by law and consistent with international practices.
- Guarantee amount and term: as requested by customers and the guarantors.
- Form of Guarantee issuance: Guarantee letter.
Interest rate and fee
- Guarantee fee: regulated by VietinBank in each period.
Loan Application
- Request form for guarantee commitment issuance.
- Plans/projects related to the obligations to propose guarantee service.
- Documents relevant to collaterals and obligations to propose guarantee service.
