ACB sets aside VND5 trillion for property loans

Asia Commercial Bank, or ACB, has set aside VND5 trillion worth of preferential loans for customers having demands to buy real estates.

The loans aim to support local customers or Vietnamese overseas to buy houses, condos, warehouses, factories, farming or forestry land. ACB will provide loans of up to 99 pct of the value of the real estates while borrowers are subject to lending rate of 14.5 pct per annum in a maximum term of 20 years.

The bank from early this month has also expanded a consumer loan program for customers having assets as collateral. Accordingly, borrowers will be informed about the bank’s credit approval within 24 working hours and are able to access loans of up to VND500 million. Customers can prove their incomes from salary, production, business, house and car leasing.

ACB also gives consultancy to help customers borrow suitable sums of money and debt payment methods.

vir

>   Bank credit quality comes under scrutiny (21/08/2012)

>   Vietnam c.bank says credits in HCM City bounce back (20/08/2012)

>   ANZ looks to corner the market (20/08/2012)

>   PVFC might use Western Bank as a bridge to change its status (20/08/2012)

>   Virtual gold trading floor’s investors taste bitterness (20/08/2012)

>   HDBank, Petechim sign strategic deal (20/08/2012)

>   Vietnam will provide funds to banks to spur credit growth (18/08/2012)

>   Banks given higher credit growth targets (18/08/2012)

>   Late tax payment fines may be charged progressively (17/08/2012)

>   Weak banks put under hardest pressure ever (17/08/2012)