Product description: Overdraft is a loan product allowing customers to spend more than credit balance on demand deposit account (VND) opened at Kienlongbank. This overpayment amount is automatically recovered gradually as soon as the customer's account has an incoming funds, so the customer only pays interest on the overspending amount on actual number of overdraft days at a preferential interest rate.

Target customers:

• Employees, collaborators of Kienlongbank, Kienlongbank Subsidiary.
• Employees working at other organizations/enterprises.

Conditions:

For employees, collaborators:

• Have a minimum working time of 12 months.
• Commitment to use entire incomes to pay debt and agree to Kienlongbank or authorize subsidiary of Kienlongbank to deduct income to repay debt on monthly basis.
• Limit/balance of credit cards at Kienlongbank and/or other credit institutions are excluded.
•  Purpose of using funds is to support livings.        

 For organization/enterprises (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:

Tenor: Up to 12 months.

Currency: VND.

Overdraft limit:

• Kienlongbank employee, collaborators: Up to 70 million VND (depending on job title).
• Organization/enterprises’ employees: Maximum 01 month of income, not exceeding VND 50 million.

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

Lending method: By overdraft limit.

Fee: See fee schedule.

Utilities:

• Simple procedure, quick approval time.
• Preferential rates calculated per day.
• No collateral required.