Fees, conditions and documents for new car

Fee (collected by VIB)

Loan appraisal fee
Free
Collateral valuation fee
Free
SMS fee
Free
Early prepayment fee
Partial: Minimum VND 300,000 VND once
Full: Minimum VND 1,500,000 VND per loan

Fee (collected by third-party)

 
Secured Transaction Registration Fee
VND 80,000
Car insurance
From 1.2% of Car value

Requirement and documents

Individual

Nationality
Vietnamese or Vietnamese whose spouse is Foreigner
Age
From 23 and not exceed 70 at loan maturity
Residential/working address
Provinces/cities where VIB branches/transaction offices locate
Salaried income
Minimum 03 months working at current employer. Labor contract tenor is 12 months at minimum
Rental income
Under ownership and stable income for at least 06 months
Business/household income
Minimum 01 year in operation
Minimum income
VND 15 mil per month
Credit history
No overdue debt at the time of loan application
No bad debt record in last 04 years

Micro SME

Type
Established in Vietnam and Revenue/Total Asset less than VND 30 bio
Business address
Provinces/cities where VIB branches/transaction offices locate
Ebtablished
Minimum 1.5 years in operation
Profit after tax
> 0
Debt to equity
≤ 6
Credit history
No overdue debt at the time of loan application
No bad debt record in last 04 years

Document check-list

Individual
Identity document:
ID/Passport and Household registration book
Income document:
- Labor contract và Bank statement/ Payslip
- Property ownership certificates
- Business License
Loan purpose document:
Car Sales & Purchase contract
Micro SME
Personal:
-Business License; Charter
-ID/Passport of the legal representative, CEO/Director; CFO/ Chief Accountant
Income:
Balance report; VAT declarations
Loan purpose:
Car Sales & Purchase contract