Following moves by Eastern Asia Bank, Industrial and Commercial Bank of Vietnam, or Incombank has signed an agreement with HCM City Post Office and HCM City Water Supply Co on providing utility fee payments for the two companies.
According to a representative of Incombank, the service of fee payment not only creates conveniences for telephone and water providers but also Incombank’s clients. And, this new service also will help the bank increase the number of clients who use Incombank’s payment cards of all kinds.
For three years, Incombank has issued about 50,000 cards and installed 150 automatic teller machines, said a Incombank official. Incombank has set a target of issuing 200,000 Incombank-based cards and developing 300 ATMS nationwide in the near future.
Following Incombank diversified banking services and products, Vietnam Export and Import Commercial Joint Stock Bank, Eximbank, now promises consumer loans within 48 hours for creditworthy clients. If a client wishes to borrow up to 500 million dong, Eximbank said it would send staff to a client’s home to help with application procedures to make sure a loan is arranged within 48 hours. The term limit is up to five years and the lending interest rate is 0.9% a month for less than 12 month terms and 0.95% a month for longer periods.
In the case of completing the final procedure to register secured transactions at local authorised agencies and outside working hours, staff will directly work with clients to create best conveniences for them to receive loans soon, the bank said.
Reportedly, recently Incombank and three other state-owned commercial banks comprising Vietcombank, Bank for Agriculture and Rural Development of Vietnam (Agribank) and Bank for Development and Investment of Vietnam (Bidv) have signed a contract with the Electricity of Vietnam to pay electricity bills on behalf of bank customers nationwide.