Credit package offering lower rates on secured and unsecured loans.
The Vietnam Prosperity Bank (VPBank) is holding a promotional program entitled "Happy Summer, Lower Interest", offering lower interest rates on both secured and unsecured loans.
Customers taking out loans backed by collateral to purchase a car, land, house, or consumer goods or to do business will be subject to a fixed preferential interest rate of 6.99 per cent per annum on loans as high as VND10 billion ($458,400) for a maximum term of 25 years. Such loans can be approved within two working days.
The total value of this credit program is VND5 trillion ($229.2 million).
VPBank has also set aside VND1 trillion (45.84 million) in credit for unsecured consumer loans. Customers must earn a monthly income of at least VND4.5 million ($206.28) and can borrow as much as VND500 million ($22,920) over a 60-month term.