What are the requirements and procedures for a bank loan from Agribank? These are common questions regarding Agribank loans. For more information and knowledge about loans, please follow this article.
1. Agribank Loan Requirements
To be eligible for an Agribank loan, customers must meet certain criteria as stipulated by the law and Agribank’s regulations, ensuring a balance between the rights of the customer and the bank:
Loan Requirements
For Individual Customers
– Identification documents: Identity card/identity card/passport.
– Documents proving the purpose of the loan.
– Loan application form (according to Agribank’s template).
These are general procedures, but depending on the customer segment and loan package, Agribank staff may request additional documents.
For Organizations and Enterprises
If you are a business or company, you need to prepare the following additional documents:
– Business license.
– Documents proving business operations.
– Documents proving the purpose of the loan.
– Documents related to collateral.
2. Agribank Loan Procedures
Loan Procedures
To be eligible for a loan from Agribank, customers need to prepare the following documents:
– Identification documents: Identity card/identity card/passport.
– Documents proving the purpose of the loan.
– Proof of income: Salary sheet, salary statement, labor contract, work assignment decision, etc.
– Loan application form (according to Agribank’s template).
– Documents related to collateral (if applying for a mortgage loan).
These are general procedures, and specific procedures may vary depending on the customer segment. For businesses and companies, the following additional documents are required:
– Business registration certificate.
– Documents proving business operations.
3. Loan Applicants
Loan Applicants
– Males aged 18-60 and females aged 18-55.
– Stable income and repayment capacity.
– No bad debts during the loan period.
– For mortgage loans, collateral is required.
– Household registration book in the area supported by Agribank.
4. Loan Types
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– Borrowers: Individual customers
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– Loan Limit: Up to 30 million VND
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– Loan Term: Up to 12 months
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– Interest Rate: As per Agribank’s regulations for each period
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– Lending Method: Installment loans, credit limit loans, or overdraft loans.
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Loan Packages
Concessional Interest Rate Loans
– Borrowers: Individual customers and legal entities engaged in production and business activities in 64 poor districts (refer to the list of poor and near-poor districts for the 2018-2020 period approved by the Prime Minister).
– Interest Rate Support:
The state budget supports 50% of the interest rate for customers borrowing capital for agricultural production development, investment in processing, preservation, and consumption of agricultural products.
The state budget supports 50% of the interest rate for customers borrowing capital for investment in production and business in 64 poor districts.
– Interest Rate: As per Agribank’s regulations for each period
Agribank considers collateral-free loans (depending on specific customer segments)
Overdraft Loans
Customers can use an amount exceeding the balance in their non-term payment account.
– Purpose: To serve the production and business activities and non-cash life consumption needs of customers
– Overdraft Limit: Up to 100 million VND
– Overdraft Term: Up to 12 months
– Interest Rate: As per Agribank’s regulations for each period
Loans for Life Needs
Customers can use an amount exceeding the balance in their non-term payment account to serve their production and business activities, personal consumption, and family needs.
– Loan Term: Short-term, medium-term, or long-term
– Loan Limit: Up to 100% of capital needs
Agribank considers collateral-free loans (depending on the financial capacity of specific customer segments)
One-time or Multiple Disbursements
Repayment of principal and interest: One-time or multiple repayments of principal, monthly or periodic interest payments as agreed.
6. Agribank’s Interest Rates
– Consumer loans for household appliances: 13%
– Loans for overseas workers: 13%
– Overdraft loans: 17%
– Loans for construction, repair, upgrade, or purchase of houses: 7%
– Installment loans: 7%
– Credit limit loans: 6%
– Loans with collateralized securities: 7%
– Loans for means of transport: 11.5% – 12%
– Credit limit loans for small-scale production and business households: 6%
– Seasonal loans for farmers: 6%
– Short-term loans for production, business, and services: 6%
– Loans for fixed asset investment in production and business projects: 6%
– Study abroad support loans: 11%
7. Benefits of Agribank Loans
Loan Benefits
– High loan limits, up to 15 times the income for unsecured loans and up to 85% of the collateral value for secured loans.
– Flexible loan term of up to 15 years.
– Competitive interest rates, among the lowest in the market.
– Simple procedures and fast disbursement.
– Flexible repayment methods.
– Experienced and knowledgeable consulting staff.
We hope that this information has been helpful. If you have any further questions about loans, please continue to follow and research.
