“Loans against valuable papers” is a product of Agribank credit for individual customers who legally own the pledged assets, having the needs for loans serving their lives.
that can be pledged: must be papers that are legally issued and transferable,
including saving books, bill of exchange issued by commercial banks, treasury
bills, treasury bonds, public debt; shares, bonds, fund certificates issued by
not exceeding the remaining term of the valuable papers. With listed stocks,
bonds and fund certificates: not exceeding 06 months.
amount: up to 80% of the total costs in the contract
rate: fixed, floating; overdue interest rate is 150% of due interest rate
loan amount shall not exceed the original price plus interest minus interest
paid during loan period; up to 50% of the market price at the time of lending
as for listed securities; up to 50% of the IPO shares by State-owned companies,
joint-stocks companies issuing shares to increase capital and does not exceed
75% of the value of pledged assets; being the difference between the average bid
price and preferential price for employees to buy preferred shares by the state-owned
rate: fixed, floating;
security: by valuable papers, the rate prescribed by the Governor of the State
Bank in each period.
of principal and interest: once and receive valuable papers back.
the loan period, if the price of collateral stock reduced to 60% of the price
at the time of collateral, then customers must provide additional assets or
guarantee within 2 working days or Agribank shall collect the loan before the
due date (specified in the contract).
branches/transaction offices or E-banking.
uses automated system (IPCAS) to track customer information, accounts, amounts
of interest payment, etc. with the highest security and accuracy.