VietinBank offers comprehensive solutions for export-import firms
VietinBank offers comprehensive solutions for export-import firms
The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) focuses on providing products, services and practical utilities for export-import firms, helping them conduct effective financial management and payment risk management and get access to capital.
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To better serve customers’ diverse needs, in addition to traditional products, VietinBank deploys new products, such as early payment letter of credit (L/C) and L/C negotiation without recourse. VietinBank’s Trade Finance products allows sellers to receive payments ahead of schedule and be free of recourse up to 100 percent of the shipment value without increasing outstanding loans at the bank.
In particular, to bring the optimal solution in choosing a transaction bank to export-import firms, VietinBank offers a variety of incentives:
1. VND10 trillion credit package for export-import firms with minimum short-term lending interest rates of 3.5 percent per year for Vietnamese dong and 1.5 percent per year for US dollar.
2. Preferential exchange rates for USD/VND (at least 50 points), EUR/VND (at least 150 points) and JPY/VND (at least 100 basis points) and more incentives are provided if commitments to maintain deposits at the bank are made.
3. In addition to special incentives, VietinBank also provides various solutions in the overall solution package for export-import firms:
- Exchange rate swap to maintain deposits for customers with incoming foreign currency sources and the need to optimize benefits from cash flows.
- Free of charge VietinBank Trade Finance maintenance; free foreign currency transfer fees to other branches; 50-percent fee reduction related to foreign currency transfer for export-import products.
- Maximum incentives of up to 75 percent of current fees for money transfer to/from foreign countries, money transfer for cross-border payments, and 100 percent of Trade Finance fees in three months for small- and medium-sized export-import firms.
- Incentives for VietinBank eFAST account and e-banking service package: Offering personalized (nice) account numbers, 20 different types of preferential fees for regular and essential banking services for firms, such as Vietnamese dong transfer, salary payments, e-banking services and tax payments, with a preferential period of up to three years. To ensure uninterrupted transactions for firms due to the impact of the Covid-19 pandemic, VietinBank eFAST also has more utilities, providing customers with 24/7 banking transactions.
- Free of charge salary payments up to 12 months and waiving all kinds of fees for officers and employees of the units paying salaries via VietinBank.
With the overall solution package for export-import firms, VietinBank hopes to join hands with firms to overcome the pandemic, successfully realizing the government’s dual task of fighting the Covid-19 pandemic and stabilizing trade and production activities.
For further information, please contact VietinBank’s branches/transaction offices.
Contact Center: 1900 558 868 / Email: contact@vietinbank.vn.
