Boosting consumer lending in the last months of the year

In the last months of the year, people's demand for shopping and consumption increased. Accordingly, along with reducing interest rates, credit institutions in the province also promoted lending for living and personal consumption with many preferential programs. Thereby, contributing to unblocking capital flows, limiting the situation of black credit, supporting output for production and business, promoting economic growth.

Agribank credit staff guides customers to access consumer loan packages. Photo: Khanh Phuong

To attract consumer loan customers, recently, many commercial banks have designed a variety of products, simple loan procedures, competitive interest rates, and flexible repayment terms. Mr. Truong Nho Luu, from Hau Loc, working in Thanh Hoa City, is currently staying in Tan Son Ward and wants to buy a piece of land to build a house and stabilize his life. Unfortunately, the money he has saved and his parents' support is not enough. After much hesitation, Mr. Luu decided to go to the bank to borrow money, mortgaging the land he intends to buy. Luckily, after proving that his income is enough to repay the debt and receiving financial support from the bank, the procedure was quite simple, and he had the necessary capital to own the land to build his own house.

As for Tran Thanh Hong and her husband, Phu Son Ward, Thanh Hoa City, both are salaried workers, so it is difficult for them to save a large sum of money at once to buy valuable assets. When deciding to buy a car for the whole family, they decided to take out a bank loan and successfully bought the car last September. Ms. Hong said: "Getting a loan to buy a house and a car has helped me reach my dream sooner and more easily."

Customers come to transact at HD Bank Thanh Hoa.

As one of the prestigious banks that has won the award "Best Retail Bank in Vietnam" for many consecutive years, Vietnam Joint Stock Commercial Bank for Industry and Trade Thanh Hoa Branch (Vietinbank) always focuses on developing retail services for personal consumption with a network of 26 ATMs and 129,784 issued cards, more than 100 service and goods supply points via POS machines and many civilized and modern payment utilities, such as: VietinBank Ipay, VietinBank Efast, SMS Banking... Currently, the unit is diversifying retail services to meet the needs of customers including: loans for production and business, consumption, overdraft loans through savings accounts. With a retail business strategy that places customers at the center of the retail banking and credit utility "ecosystem", Vietinbank Thanh Hoa is continuing to expand new utilities such as using ATM cards and international credit cards to pay for purchases via POS/QRPay machines...

In addition, branches of Agribank, BIDV, Loc Phat Post Office Bank, Techcombank, Military Bank, International Bank, Bac A Bank - Thanh Hoa Branch... have also proactively expanded retail services in the form of preferential loans for many credit programs such as: loans for buying apartments, building new houses and repairing houses; preferential loans for production, business, supplementing working capital for installment payments for business capital; unsecured loans for buying cars for personal use by customers... Retail credit programs are being focused on by banks and credit institutions in the area because they bring benefits to both customers and banks in promoting outstanding loan growth. Along with promoting consumer credit, the State Bank - Thanh Hoa Provincial Branch has also directed credit institutions to increase communication about preferential loan packages, helping people have enough information, easily access official banking and financial services, and avoid the consequences of "black credit". Preferential loan programs for easy access for people. The State Bank - Thanh Hoa Province Branch also recommends that people carefully study consumer loan packages of commercial banks and formal financial institutions to borrow capital; at the same time, they must develop a comprehensive financial plan suitable for their income and ability to repay the debt to avoid the loan becoming bad debt, customers "losing points" at banks, causing consequences for themselves as well as causing social insecurity and disorder.

Article and photos: Luong Khanh

Source: https://baothanhhoa.vn/day-manh-cho-vay-tieu-dung-nhung-thang-cuoi-nam-227744.htm