Official bank lends to individuals to buy houses, cars... to pay off debts from other banks

According to Circular 06, from September 1, banks are allowed to consider and decide to lend to individual customers to repay loans at other credit institutions for the purpose of borrowing to serve living needs such as buying cars, buying consumer equipment, etc. Previously, credit institutions were only allowed to do this for loans serving production and business.

According to the State Bank, expanding the regulation for customers to repay debts at other credit institutions to apply to both loans for business activities and living needs will create conditions for customers to access more bank credit sources and have more opportunities to choose better services and utilities at other credit institutions.

Vietcombank announced the implementation of lending capital to individual customers to repay debts from other banks.

Vietcombank is the first bank to officially implement a policy for individual customers to borrow capital to repay loans at other banks early with a loan interest rate of only 6.9%/year. The loan policy to repay loans at other banks applies to loans serving the living needs of individual customers. At present, Vietcombank applies a preferential loan interest rate of only 6.9%/year in the first 6 months or 7.5%/year in the first 12 months or 8%/year in the first 24 months. Vietcombank will adjust the loan interest rate according to the actual situation.

Customers can borrow capital with a loan term of up to 30 years (but not exceeding the remaining loan term of the loan at the borrowing bank) with a maximum loan amount of 100% of the outstanding principal of the loan at the borrowing bank. Customers are granted a grace period for principal repayment of up to 24 months and in accordance with Vietcombank's regulations.

The bank accepts mortgage loans with real estate assets, cash, balances on deposit accounts, savings books/cards, valuable papers, etc. of customers or blood relatives (father, mother, biological children) or people who are husband or wife to the customer; or the customer's own assets at the credit institution where they are borrowing. With this new policy, customers will have more options to borrow capital from Vietcombank with low and stable interest rates, helping customers to be proactive in their personal and family financial plans.

Source link: https://thanhnien.vn/ngan-hang-chinh-thuc-cho-ca-nhan-vay-mua-nha-o-to-tra-no-ngan-hang-khac-185230901102216484.htm