The contract economy and stringent rules seem to explain why the mercenary banks have been unable to disperse the billions of dong set divagation for personal lending.
Loans on offer
Sai Gon Ha Noi bevel is offering four- year imparts of up to VND300 million ($17,100) for individuals to buy or repair houses, buy vehicles or other consumer goods without collateral.
Lien Viet Bank will allow managers and ply of institutions and enterprises to VND500 million ($28,594) for three geezerhood without mortgaged assets or employer guarantees.
Asia commercial message Bank is offering secured 10-15-year loans to buy dwellings and up to seven years for building and repairs.
Eximbank has earmarked VND3.7 trillion ($211.4 million) for consumer loans and will lend individual customers with a stable income and collateral up to VND500 million ($28,594).
The Eastern Asia Bank (EAB) has introduced a 24-minute loan that allows customers who are paid via EAB cards to borrow up to VND50 million ($2,859) without security.
Those paid via other bank cards can borrow VND3 million ($171.56) - again without security for 12 months at a monthly interest of 1.07 per cent.
Tien Phong Bank charges a yearly 10.
5 per cent for home purchases; building and repairs and automobile loans.
The interest for loans secured against variable collateral is a yearly 12.5 per cent and a yearly 9 per cent a year for unfastened loans to customers who can show they have a regular income.
The loan payments are based on primary lending dimension and do not reduce during the term of the loan.
Most supranational banks offer loans at 11 per cent a year with a reduction for early payment.
Failed efforts
Ha Noi-based joint stock-company employee Do Dang Tu provides an example of why borrowers for the loans have not been materialising.
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