Suitable for: Individuals, households who need to borrow for business/production/investment in the country without having to use specific purpose loans from VietinBank.  

Terms to borrow

• Under 65 years old at the end of the loan term, except for such cases as: (i) have collateral as highly liquid assets; (ii) have collateral as such real estate worth three times more than the borrowed funds, liquid, and the person who will pay debt for the customers is under 60 years old and can prove their sources to pay back.
• Have legal production/business, have a business plan evaluated by VietinBank to be feasible and effective, have sources to pay back loans, comply with laws.  
• Minimum funds put in:
  • For short term loans: 20% of the total required funds.
  • For medium and long term loans:
    • Without collateral: at least 50% of total required funds
    • With collateral: at least 40% of total required funds
  • In exceptional cases, the Branch can decide to obtain approval for the customers to put in only 10% or more of the total required funds (if loan collateral is material and/or third party is available) or 15% of total required funds (if collateral is formed in the future).
• Put in collateral for the loans, such as the assets formed during business process.

Benefits

• Lending currency: VNĐ, certain foreign currencies.
• Loan limits: depending on customers’ requirements, sources to pay back loans, types of collateral, value of collateral, and maximum level of loans compared to collateral value according to VietinBank current regulations.
  • For short term loans: up to 80% of total required funds.
  • For medium and long term loans:
    • No collateral: up to 50% of total funding requirements.
    • Collateral: up to 60% of total funding requirements.
  • 100% of total funding requirements if the loan is adequately collateralized with savings books/ savings certificates/ valuable papers issued by organizations in the list provided by VietinBank from time to time.
  • The Branch could propose to the Head Quarter for approval of loans covering 90% of the total funding requirements in special cases.
• Loan term: determined according to income sources from customers’ business plans, the term to collect all financing capital of the project/plan, and the remaining term of the collateral.
  • If the cash flow cycle is less than 6 months for the borrowers: the maximum loan term is 12 months.
  • For medium and long term loans: the maximum loan term is 7 years. If the Branch can arrange the funding sources, the loan term can be more than 7 years.
• Multiple lending methods: per time, installment, credit line, assigned project…

Rates and fees

• Lending interest rate: use agreed rate and comply with the consumption loan rate schedule at VietinBank from time to time.
• Fee: in accordance with VietinBank’s current fee schedule (if any).

Loan Application

• Loan request form provided by Vietinbank;
• Project, plan; documents and evidence for the purpose of the loan.
• Documents verifying loan payback sources; collateral assets.
• Business registration certificate, license/business certificate (as required by laws).
• Business plan/Investment plan and relevant documents.

Suitable for: Market retail units (including markets of grades 1 and 2) with the need to borrow for daily trading transactions and use the right to receive proceeds from market trading or a different kind of assets as collateral assets.  

Lending conditions

• Under 65 years old at the end of the loan term.
• Have Business registration certificate with specific location for business at the market.
• When the collateral is the right to receive proceeds from market trading (capital contribution contract/market location purchase contract/market location rental contract) at the market location:
  • Borrowers must directly sign these contracts with the market regulators.
  • Borrowers will accept terms and conditions in the affiliation contracts between VietinBank and the market regulators.
• Put in at least 30% of the project funding requirements.
• Purchase insurance for borrowers and the rented market locations (if collateral is the right to receive proceeds from market activities (capital contribution contract/market location purchase contract/market location rental contract) as required by laws or authorities. Insurance bought at Bao Ngan non-life insurance company is preferred.

Collateral method: put up the right to receive proceeds from market activities (capital contribution contract/market location purchase contract/market location rental contract) or a different kind of collateral assets.

Product benefits

• Lending currency: VNĐ;
• Loan limit: depends on the customers’ funding requirement, payback capacity, type of collateral asset, value of collateral asset, and the maximum loan limit ratio to collateral as determined according to the current regulation on loan collateral at VietinBank; funding capacity of VietinBank:
  • If the collateral is the right to receive proceeds from market activities (capital contribution contract/market location purchase contract/market location rental contract, then the loan limit will be maximum 50% of the collateral value, but no more than 200, 150, 100, 50, or 20 million dongs, depending on each case.)
• Various loan methods: per time or installment loans.
• Loan term:
  • For per time loans: maximum 12 months
  • For installment loans: maximum 3 months. If customers need to borrow installment loans for less than 12 months, the lending unit can sign the principal credit contract specifying a credit line for less than 12 months and individual credit contracts for each time of fund imbursement. The term for each individual credit contract is no more than 3 months.
• Flexible loan payment methods:
  • For installment loans: payment cycle can be by day/ week (07 days)/ month;
  • For per time loans: payment cycle for the principal amount can be by week (07 days), or by month; payment cycle for the interest amount is the same as the cycle for the principal amount.

Rates and fees

• Lending rates: use the agreed interest rates and comply with consumption loan rates schedule at VietinBank from time to time.
• Fees: are collected according to the current fee schedule at VietinBank (if any).

Loan Application

• Loan request form provided by Vietinbank;
• Business registration certificate;
• Capital contribution contract/market location purchase contract/market location rental contract;
• Business plan and relevant documents;
• Verification documents of financial resources and payment sources.

Suitable for: requirement of working capital for individuals/households in their business activities.

Lending conditions

• Borrowers are experienced in the business field for at least 1 year.
• Borrowers have feasible and efficient business plan/service, which are legal by law.
• Borrowers put in at least 20% of the total required funding needs.

Product benefits

• Lending currency: VNĐ
• Loan limit: up to 70% of the collateral value.
• The collateral is the retail store or a different kind of asset.
• Loan term: up to 12 months.
• Loan method: per time/credit line

Rates and fees 

• Lending interest rate: use the current schedule at VietinBank.
• Fee: use the current schedule at Vietinbank (if any).

Loan Application

• National ID card / valid passport or an equivalent legal document.
• Registered residence book/ temporary residence book and personal documents on marital status.
• Business registration certificate for the business activities in accordance with legal regulations.
• Other relevant documents (if any).

Lending conditions

• Borrowers have a legal purpose to borrow, including for covering expenses in agriculture, forestry, aquarium, and salt production;
• Borrowers comply with all normal business loan conditions;
• In the case of unsecured loans, the following conditions must also be met:
  • Borrowers live and work in the rural area, or have the production plan/ project in the rural area;
  • Borrowers ensure that they have no unsecured loans at any other credit organizations (including unsecured credit cards) at the time of making the loan and that they only borrow without collateral at VietinBank;
  • Borrowers submit original copies of right-to-use-land documents; or original copies of the Provincial Council certifying that the owners have not been granted the right-to-use-land documents and that the land is not in dispute, to VietinBank (including authorization letter for the lending unit to (i) receive the original copies of the right-to-use-land documents from the authorities, (ii) control the Right to use the land and all assets attached to the land for debt collection in case of contract violation or default).

Product benefits

• Loan limits depend on the requirement of fund and the projected expenses of production, etc. as well as pay back capacity of customers, funding resources of VietinBank; in which the unsecured limit is only up to 30 million dongs. If customers use this product and other unsecured consumption loans at VietinBank (such as the international credit card or overdraft), the unsecured loan limit of customers is no more than 50 million dongs.
• Maximum loan term: suitable for the business cycle and the pay back term of the project/plan. If the production cycle is revolving by nature (such as alternative farming, revolving farming seasons, etc.) and the business cycle/pay back term for each farming season is no more than 6 months, the lending unit will consider to lend funds to the borrowers for up to 12 months.
• Lending currency: VNĐ.

Interest rates and fees

• Lending interest rates: in accordance with VietinBank’s current regulations, except for cases where insurance covers for agricultural production and the minimum insurance coverage is the loan amount, then the lending interest rate is discounted 0.1% lower per year;
• Fees: in accordance with Vietinbank’s current schedule (if any).

Loan Application

• Loan request form provided by Vietinbank;
• Credit contract and loan paper;
• Documents verifying income sources and other payback sources (if any);

Suitable for: farm owners or farm participants who need to borrow funds to carry out farming activities.

Lending conditions

• All quantitative criteria certifying farming activities are met.
• Customers have a credit line provided by VietinBank (still effective and satisfactory on all terms and conditions to use the credit line, if any). If not, customers qualify for a credit line.
• Customers have a legal purpose to borrow, including to cover for expenses of investment, development, and production at the farms;
• Customers comply with normal business loan conditions;
• Customers have a feasible loan and payback proposal, have the capacity to pay back both the principal and interest and fee during the commitment term; put in at least 20% of the short term funding requirements or 30% of the medium or long term funding requirements;
• In case customers borrow funds without putting up collateral, they need to meet the following conditions:
  • Customers have the Farming Registration certificate issued by the provincial People’s Committee according to Document no. 261/HTX dated 20/5/2004 issued by Department of Collective and Agriculture Development under Agriculture Ministry. 
  • Customers ensure that they do not have unsecured loans with any other credit organizations (including unsecured credit cards) at the time the loan is made and that the unsecured loan they make is only with VietinBank at the time;
  • Customers need to submit the original copies of documents verifying the right to use land to VietinBank; In case customers have not been issued such document to prove the right to use the land, customers need to have at least one original copy to verify that they are not yet issued such document on the land use right by the district People’s committee and that the land is not in dispute. At the same time, customers need to sign the credit contract/agreement contract with equivalent legal reinforcement on the following content: (i) authorization to the lending unit to receive the original copy of the document to prove the right to use the land from the relevant authorities; (ii) unconditional agreement to the lending unit in dealing with the right to use the land and all assets related to the land when the principal debt, interest, and fee (if any) are collected in case of contract violation, failure to pay back, or debt default, or failure to comply with all of the contract’s procedures.

Product Benefits

• Approved loan amount depends on the funding requirement, and the expense level for agricultural production, customers’ payback capacity, VietinBank’s funding capacity, etc. whereas an unsecured loan does not exceed 200 million dongs. Maximum loan term is 12 months for short term loans and 7 years for medium and long term loans.
• Lending currency: VNĐ.

Rates and fees

• Lending interest rates: in accordance with the current schedule at VietinBank, except for cases if customers have agriculture insurance where the coverage is at minimum the loan amount, the applied interest rate will be discounted by 0.1% per year.
• Fees: in accordance with the current schedule at VietinBank (if any).

Loan Application

• Loan request form provided by Vietinbank;
• Credit contract and Loan paper;
• Documents to verify income sources and payback sources (if any);
• Documents to verify farming activities (if any);