Local banks boost up lending for consumption

January 06 2011

Source : Vietnam Business News

From late December, many local lenders have boosted up lending for consumption while kept on refusing to disburse only half a month ago to ensure capital safety ratios and balance cashflows, the local newswire Sai Gon Tiep Thi (SGTT) reported January

Local lenders launched many promotion programs to bolster consumption loans from December 2010 to January 2011, the local media reported, citing that ANZ offers1.5-2% lower lending interest rates for home purchase and repair loans, and mortgage loans in the first six months of the contract.

HSBC offers VND200,000 for consumption loans from at least VND70million and VND1million for those from at least VND700million, while charged lending interest rates of 0.5% lower for car loans, etc.

The SGTT also cited that new opens of Union Pay debit card at Sacombank are given VND99,000; E-Maximark card holders at Eximbank are given a Maximark shopping card worth of VND200,000 or 1% of transaction values which is applicable from January 1, 2011, etc. Stoxplus.com

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