CONSUMING LOAN FOR STAFF OF OTHER CORPORATES (WITHOUT COLLATERALS)

Product description: Consumer loans for employees outside Kienlongbank (no security collateral) is lending product without security collateral for consuming/living support for customers who are employees working at organizations/businesses outside Kienlongbank.

Target customers: employees working at organizations/businesses outside Kienlongbank.

Conditions:

For employees:

• Minimum working period of 12 months. 
• Authorization for organizations/businesses (employer) to deduct their income to repay loans. 
• Ability to repay loan principal and interest.
• Purpose of using loans is to support living needs. 
• Open current account at Kienlongbank.

For organization/business (employer):

• Having creditworthiness, business operations are continuously efficient and profitable.
• Commitment to confirm the employee’s working time, incomes and agree to deduct the employee’ income to repay loans to Kienlongbank.
• Commits to pay staff salaries through  accounts opened at Kienlongbank. 
• Commit to notify Kienlongbank of employee’s job quit, retain and remit to Kienlongbank all amounts payable to employee for loan payment.
• Must have a cooperation/collaboration contract with Kienlongbank.

Characteristic:

Loan term: Maximum 36 months, not exceeding remaining term of labor contract.

Loan currency: VND.

Loan amount: based on remaining working time at the loan application time (t)

• 12 months ≤ t ≤ 36 months: Maximum 03 months of income.
• 36 months <t ≤ 60 months: Maximum 05 months of income.   
• 60 months <t: Maximum of 07 months of income.

Interest rate: By Kienlongbank's regulations from time to time.

Loan method: By disbursements.

Disbursement method: transfer to employee's current account opened at Kienlongbank.

Fee: See fee schedule.

Utilities:

• Quick satisfy urgent consuming needs and improve livings.
• No collateral required.
  
• Procedure is simple and fast.