Friday, 29/03/2024

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Unsecured overdraft

Overdraft is flexible loans for customers wishing to spend excess money on account at the bank to meet demands for quick money of the customers who just pay interest on that amount with the interest as prescribed by the Bank and calculated by actual number of days using. In essence, overdraft allows those who have a deposit account to spend in excess of the money they have according to a certain limit. 

Utilities:

- To boost liquidity for clients in pending payment amounts.

- To approve quickly.

- To prepare documents easily, briefly and save time.

- To calculate the interest rate by the actual number of days using.

- Customers may be paid immediately in case of having effective liquidity

Objects

- Individuals: They are mainly individuals under directly the working unit paying via ATMat LaoVietBank (Not applicable to the officers working at the Head Office and member units of LaoVietBank).

Characteristics

- Type of currency for loan: LAK, USD, THB.

- Loan period: Up to 12 months.

- Mode of loan: After being granted an overdraft limit, customers can withdraw money at any time for a total amount not exceeding the overdraft limit granted.

- Interest rate: Under the provisions of LaoVietBank in each period.

- Collateral: For individual clients without collateral, if customers are employees under directly the working unit paying via ATMat LaoVietBank (secured by unsecured loans of the working unit that the customers are working at).

Conditions

+ Age from 18 to 55 (for women) and 60 (for men) during the loan, but not exceeding the remaining work time of the customers at the working unit.

+ To have steady and regular income paid through a deposit account opened at LaoVietBank.

+ To have the same permanent residence address with LaoVietBank granting overdraft limit.

+ Have ever had credit relations or deposit relations (at least to be equivalent overdraft limit) in LaoVietBank having credibility with the bank.

Profile of loan

+ Application form for granting overdraft limit (under the form of LaoVietBank).

+ Permanent residence.

+ Valid identity card or passport.

+ Recruitment decision (Decision on appointment for the customer at management level, leadership) or Labor contract.

+ Register sheets of deposit accounts at least 03 consecutive months prior to the loan period.

+ Guarantee of the working unit that the customers are working at.

Contact

If you have questions or need further guidance, please contact directly with staff of Customer relations department, Lao Viet Joint Venture Bank by phone number and email below:

- Tel. 021 216316;

- E-mail: phongquanhekhachhang@yahoo.com