LENDING FOR AUTOMOBILE BUYING

I. Benefits

• Customers are supported for buying the automobile in order to meet their need of living or business activities purposes.
• Simple, quick and convenient procedure.
• Time for loan consideration and approval: maximum 03 workings days from the date SCB receives full necessary documents.
• The automobile buying from SCB’s lending may be used as the loan security asset for SCB.
• The insurance premium paid by customers for the assets used as loan security will be sponsored at most 50% by SCB corresponding to their outstanding loan at SCB.

II. Maximum lending period

Maximum 72 months, subject to the type of assets used as loan security.

III. Type of currency for lending

VND

IV. Lending amount

Subject to the loan demand and the re-payment capacity of customers, but not exceeding 90% of the buying value of the automobile

V. Loan re-payment method

Flexible, subject to the income sources and re-payment capacity of customers.

VI. Lending interest rates

Flexible as periodically stipulated by SCB

VII. Borrowing conditions

• Individuals fully meeting the lending conditions as stipulated by current legal regulations and SCB.
• Customers having the permanent or temporary residence registration certificate at the places where SCB’s Main transaction office, branches or transaction offices are located.
• Customers having stable income sources ensuring to repay the loan during the lending period.
• Customers implementing the loan security methods as stipulated by current legal regulations and SCB.

VIII. Documentation

• Copies of the loan applicant’s identity card (ID)/passport, permanent residence registration certificate or temporary registration booklet of the loan applicant, the mortgager, the pledger of the assets used for implementing their loan security obligation.
• Loan applicant’s certificate of the marital status (married or single).
• Loan application form (SCB’s printed form).
• Automobile purchase contract, price offer of the automobile agent, down-payment paper…
• Documents evidencing the loan applicant’s income: labor contract, salary certificate, business registration certificate, property renting contract…
• Documentation of the related assets used as loan security.

Contact

Fore more information, please contact any of our branches / transaction offices, or our Customer Service Centre, phone: (08) 39202222.