NCB offers financial solutions to assist small merchants and business households during year-end

The bank's involvement in a dynamic market economy has heightened incentive among individual consumers and business households, enhancing competitiveness and fostering company growth in 2024.

As the year-end peak time approaches, Ms. Hai Yen, proprietor of a lotus tea specialty business in Dong Thap, considers herself fortunate due to the continual influx of gift orders from major corporations, resulting in a consistently vibrant mood of packaging and shipping throughout the factory. Ms. Yen experiences considerable difficulty in coordinating money for importing products while managing operational expenses, all the while maintaining a reliable supply of items that meets quality and quantity standards for timely delivery to customers.

I operate just a small business and cannot be compared in scale or repute to major corporations or chains. Collaborating with sellers or buyers places me in a challenging predicament, said Ms. Yen.

The General Statistics Office reports that there are over 5.5 million individual business families nationally, contributing over 30% to the yearly gross domestic product (GDP) structure. Many business houses, like as Ms. Yen's store, are encountering difficulties in an uncertain economy. Due to limited size and insufficient resources, they encounter challenges in advancing production and business, enhancing working conditions, and securing income for employees.

Diverse guarantee products, increasing competitiveness when performing contracts

Recognizing the customer challenges, National Citizen Commercial Joint Stock Bank (NCB) has developed solutions that range from general to specific, tailored to various industries and operational scales. Consequently, it provides a variety of customizable financing solutions, assisting individual clients, small merchants, and business houses in overcoming challenges, expanding output, and enhancing operational efficiency.

The guarantee service is particularly tailored for individual business clients, with affordable costs, straightforward procedures, and expedited processing times.

NCB continuously offers practical products, accompanies and directly supports individual customers and business households

Consequently, business proprietors are offered an array of guarantee solutions, including payment guarantees, bidding guarantees, contract performance guarantees, and advance payment return guarantees. Customers may register to get a guarantee utilizing the amount of their payment account or deposit at NCB, as well as term deposits or securities issued by NCB. 

The guarantee time is adaptable based on the economic contract, alleviating financial concerns for business owners and enhancing confidence with partners throughout contract execution, purchasing, selling transactions, and product provision.

Ms. Hong Anh, a proprietor of a fashion boutique in Danang, noted, “Suppliers often need an advance payment, substantial deposit, or guarantee commitment for significant orders.”

“Recently, I enrolled for a letter of guarantee from NCB to fulfill the application criteria. Fortunately, NCB's operational procedures are highly efficient and rapid, resulting in my receipt of the letter of guarantee within a few hours after calling the bank. This not only reduces expenses but also bolsters my credibility during contract negotiations,” added Ms. Hong Anh.

Easy to refinance an old loan with preferential interest rates

Mr. Minh Phuc, the proprietor of a machine and industrial equipment rental enterprise in Hanoi, borrowed nearly VND 2 billion from a private bank to invest in the expansion of production and business activities. He stated that following the preferential interest rate period, his loan interest has escalated to 13% per annum, significantly intensifying the pressure to repay the debt.

Mr. Phuc was introduced by a friend to a refinancing loan package from NCB, including an interest rate of 5.49% per annum, and subsequently received consultation over a loan package tailored to his financial circumstances.

The transfer of the debt to NCB has significantly alleviated my load. I do not need to procure funds independently to settle the existing debt, and I benefit from a highly advantageous interest rate during the initial year. Despite the loan having a variable interest rate, the interest rate of this package remains significantly lower than that of the previous loan, stated Mr. Phuc.

NCB's refinancing loan package is becoming the choice of many customers thanks to its attractive interest rate

Customers can transfer their loan application from another bank to NCB through the refinancing loan package without needing to prepare funds to settle the existing loan. NCB will offer a new loan to consumers to settle the whole outstanding debt at the previous credit institution, with a maximum loan term corresponding to the remaining duration of the original loan.

At the same time, NCB allows customers to use collateral they have already mortgaged at another bank as security for a new loan, providing a lending rate of up to 85% of the asset's value. Consequently, reducing the documentation required to substantiate the primary claim facilitates prompt loan repayment for customers. Customers are granted a main grace period of up to 24 months, flexible repayment plans, and a credit card featuring several appealing reward and discount benefits.

This NCB product is not only a "lifesaver" for small traders and business households, but it also addresses the varied loan repayment requirements of individual customers, such as loans for purchasing, constructing, or renovating real estate, consumer loans, and auto loans, thereby alleviating challenges associated with repaying existing loans, releasing collateral, etc. at other banks.

Through broad, adaptable, and pragmatic policies, NCB aims to be a dependable partner in assisting clients to navigate challenges within a difficult market, concentrating all efforts on maximizing company efficiency and promoting sustainable growth.

For more detailed information about financial solution packages, customers can visit NCB website at https://www.ncb-bank.vn/, contact NCB transaction offices/branches nationwide, or call the hotline at (028) 38 216 216 - 1800 6166.