Children success gives pride to their parents. Supporting parents, VietinBank shall finance them in sending their children to study abroad. 

Requirements

• Study abroad fees, including tuition, living expenses, and other related expenses in the notice form provided by the school, plane tickets, and VISA fees.  
• Study in the country fees, including tuition and courses related fees in the notice form provided by the school.
• Have to open a term deposit, savings deposit, or own valuable papers issued by VietinBank to complete the application for VISA for study abroad purposes.

Terms to borrow

• Fully legal capacity, individual capacity, legal responsibility before the Government regarding using the borrowed funds. Customers need to be a family member with the individual who studies abroad.
• Have legal residence book or registered residence book in the same province/city with the lending unit of VietinBank. Under 60 years old before the loan term ends.  
• Put in at least 30% of the expenses to study abroad;
• Have resources to pay back fees, principal, and interest within the agreed time frame.

Product Benefits

• Currency: VNĐ
• Loan limit: up to 70% of the expenses for study abroad and 100% of the requirement to verify financial resources.
• Loan method: per time
• Loan term: 
  • For expenses to study abroad: up to the expenses covering the whole course time plus 3 years.
  • For financial verification purposes: up to the term of customers’ savings account, valuable papers for the loans and the remaining term of the courses (for VISA renewal).

Rates and Fees

• Lending interest rates: 
  • For study abroad loans: agreed interest rates periodically adjusted during loan term. 
  • For financial information verification purposes: the lending interest rate = the interest rate on savings book/valuable papers + fees for financial verification as regulated by Vietinbank.
• Fees: are collected in accordance with the current fee schedule of Vietinbank (if any).

Loan Application

• Loan request form provided by Vietinbank;
• National ID Card/Passport, legal residence book/registered residence book, relative certification for customers with the individuals who study abroad.
• Other documents related to the loan collateral.
• For study abroad loans: 
  • Verification documents of income and sources to pay back. 
  • School entrance notice from the school.
  • Tuition notice, living expenses notice, other course-related notices from the school.
• For financial information verification loans: documents requesting verification of financial information from foreign authority or from the agent arranging for study abroad.

To meet the demands: to use all of the products and services in supporting study abroad including loans to cover study abroad expenses, loans to verify financial information, savings account/valuable paper and balance verification, wire transfer to cover study abroad expenses, SMS Banking, issuance of international credit card, and service of automatic account transfer from ATM account to credit card account.

Qualifications

• Meet the requirements set forth in document 1887/QĐ-NHCT19 dated 10/7/2009.
• Register to use at least 1 main product (study abroad loan and financial verification loan) and 2 supporting products (international credit card, SMS Banking…).

Benefits

• Lending currency: VNĐ, certain foreign currencies;
• Customers could elect either part or the whole package of products;
• Minimize time and procedures in registering for products. Only one time registration at one location is needed to register for the whole package;
• Cost to register for the package is lower than the cost to register for each part of the package each time;
• Collaterals are not required (even for financial information verification);
• Value-added services for this package are available.
• Loan limit is up to 70% of the expenses for study abroad or 100% of the requirements to verify financial information.
• The package term equals the loan term stated in the credit contract.

Rates and Fees

• Lending interest rates: 
  • Study abroad loan: use consumption loan rates at Vietinbank.
  • Financial information verification loan: use the interest rates on savings account/valuable papers plus certain service fees as regulated by VietinBank.
• Service fees: preferable to normal fees, depending on each type of product registered (normal loan/package loan).

Loan Application

• Application, procedure: According to current regulations at Vietinbank
  • Loan request documents and study abroad plan;
  • Disburse order and foreign currency control request (for the whole package).

To meet the demands: to use all of the products and services provided by VietinBank for study in the country purposes, including covering study expenses, issuance of ATM E-partner card, account transfer to cover expenses, SMS Banking.

Terms of use

• Meet the requirements set forth in document 1887/QĐ-NHCT19 dated 10/7/2009
• Register for the main product (loans for study in the country in a package) and 2 supporting products/services (ATM E-partner card, SMS Banking, etc.).

Benefits

• Lending currency: VNĐ;
• Customers could elect either part or the whole package of products;
• Minimize time and procedures in registering for products. Only one time registration at one location is needed to register for the whole package;
• Cost to register for the package is lower than the cost to register for each part of the package each time;
• Value-added services for this package are available (free registration for ATM E-Partner cards, reduced fees on money transfer, etc.);
• The package term equals the term of the study course plus 3 years.

Rates and Fees

• Lending interest rates: use the consumption loan rates at VietinBank for each period.
• Service fees: preferable compared to normal fees, depending on each product registered (normal loan/package loan).

Loan Application

• Application, Procedure:
  • Credit limit request document and study plan;
  • Other documents/papers provided by Vietinbank.

To meet the demand for: Vietnamese individuals or households who need money to cover for expenses while working abroad.

Terms to borrow

• At the end of the loan term, household representatives are under 60 years old/ working abroad individuals are under 50 years old.
• The deposit accounts are opened with Vietinbank, with customers’ commitment to pay back to the account and authorization for VietinBank to automatically collect debt from the account when the loan is due.
• Put in at least 30% of the total demand for funds. In case there are collaterals such as savings account/valuable papers issued by organizations VietinBank takes as reliable for each period, then a full loan is available.
• The loan should be adequately collateralized.
• Have no bad credit history with any credit organizations.

Product Benefits

• Lending currency: VNĐ, certain foreign currencies;
• Loan limit: up to 70% of the total demand for funds, or 100% if there are collaterals such as savings account/valuable paper issued by reliable organizations VietinBank announces for each period.
• Loan term: up to the full working term overseas.
• Lending method: per time.

Rates and Fees

• Lending interest rates: use consumption loan rates and per mutual agreement between VietinBank and customers.
• Fees: are collected in accordance with VietinBank’s current regulations.

Loan Application

• Loan Request form provided by Vietinbank;
• Verification documents of overseas work (work contract for Vietnamese individuals from overseas/ agreement between the individuals and the agent arranging for working abroad/ work contract between Vietnamese individuals and foreign agencies);
• Documents on collateral and Authorization documents on collateral control (in case the individuals borrow directly from the Bank).

Terms to borrow

• Use borrowed funds to verify financial resources for travelling abroad/medical services abroad.
• Have a pay-back plan and a loan proposal – committing to pay both interest and principal and fees within the committed time frame.
• Carry out loan collateral in accordance with regulations of the Government, State Bank of Vietnam, and VietinBank.

Product Benefits

• Lending currency: VNĐ, certain foreign currencies;
• Loan limit: up to 100% of the value for verification.
• Loan term: in accordance with customers’ request and up to the term of the savings account/valuable papers of customers with VietinBank.
• Lending method: per time
• Collaterals: term savings account, savings book, or valuable papers with VietinBank, or other assets of customers, guarantees of third parties accepted by VietinBank.

Rates and Fees

• Lending interest rates: are the rates on term deposit accounts, savings books, or valuable papers from VietinBank plus certain fees for financial information verification.
• Fees: are collected in accordance with VietinBank’s current regulations.

Loan Application

• Loan Request form provided by Vietinbank;
• Copy of National ID Card/Passport, other equivalent valid documents, legal residence book, or long term registered residence book.
• Regulations of the Embassy or the country of entry to verify financial resources for registering for a travelling VISA or a medical service VISA.
• Other related documents on loan collaterals.