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Currently, obtaining a bank loan is considered the most practical solution to cover the costs of labor export (abbreviated as XKLĐ). However, not all banks provide this service. So, which banks support loans for overseas labor export? Japan, South Korea, Taiwan...
Financial assistance for labor export loans to Taiwan, Japan, South Korea...
1. Banks supporting loans for overseas labor export.
2. Procedures for obtaining bank loans for overseas labor export.
I. Banks supporting loans for overseas labor export
In addition to supporting loans for labor export to Japan and Taiwan, banks also assist in exporting to various countries worldwide to meet the loan needs of consumers.
1. Agribank
Agribank, short for Agricultural and Rural Development Bank of Vietnam, serves as the state bank offering a variety of financial services, including support for export loans. This service is available to everyone, and anyone can apply for a loan. However, if you are already married, the head of the household needs to apply. For singles, compliance with regulations is a must, and they must directly approach the bank for the loan.
Features of Agribank's export loan support:
- Disbursed cost: 80% of the contract cost.
- Loan term: Maximum based on working period abroad.
- Collateral guarantee: Guarantee from a third party or pledging assets. For families living in rural areas, pledging is not required for loans under 20 million, and they can borrow 70% of the collateral value.
- Interest rate: Fixed interest rate according to the current period.
Contact Agribank hotline for more details: 1900.558.818
2. VietinBank
VietinBank, short for Vietnam Joint Stock Commercial Bank for Industry and Trade, also offers services to support loans for overseas labor export to Taiwan, South Korea, Japan, and more. However, unlike Agribank, VietinBank has restrictions on the borrowing audience. Specifically, as follows:
Features of VietinBank's export loan support:
- Borrowing audience: Households, laborers not exceeding 60 and 50 years old, respectively, with no bad debts.
- Maximum loan amount: 70% of the labor export cost, based on the labor contract between the employer and the laborer.
- Loan term: Maximum equal to the labor export period.
- Interest rate: Fixed based on the current rate.
Contact VietinBank hotline for more details: 1900.558.868/024.3941.8868
Support for bank loans for overseas labor export
3. Social Policy Bank
In addition to the two banks mentioned above, if you belong to the categories of war invalids' children, heroes' children, war invalids' descendants, etc., you can borrow funds for overseas labor export at the Social Policy Bank. The special thing when borrowing from the Social Policy Bank is that those going to Malaysia can borrow 100% of the amount in the contract between the laborer and the employer.
Features of the export loan support from the Social Policy Bank:
- Borrowing audience: Falls under policy categories such as children of martyrs, war invalids, etc.
- Loan limit: Maximum is 80% of the contract value, while those going to Malaysia for labor export may borrow up to 100%.
- Loan interest rate: 0.5% per month
Contact the Social Policy Bank hotline for more details: 024.364.171.84
| Thông tin vay vốn | Agribank | VietinBank | Ngân hàng Chính sách xã hội |
| Đối tượng vay | Mọi đối tượng | Chủ hộ không được quá 60 tuổi, người lao động không quá 50 tuổi, không có nợ xấu | Gia đình thuộc diện chính sách (con thương binh, con liệt sĩ …) |
| Chi phí được vay | Tối đa 80% chi phí trong hợp đồng lao động | Tối đa 70% phí cần thiết trong hợp đồng lao động | Tối đa tới 80%/số tiền trong hợp đồng lao động |
| Thời hạn | Tối đa bằng thời gian đi xuất khẩu lao động ghi trong hợp đồng | Tối đa bằng thời gian đi xuất khẩu lao động ghi trong hợp đồng | Bằng thời gian xuất khẩu lao động |
| Bảo lãnh thế chấp | - Ngân hàng yêu cầu có thế chấp tài sản hoặc bên thứ 3 bảo lãnh - Gia đình nông thôn không cần thế chấp khi vay dưới 20 triệu đồng - Được vay tối đa là 70% giá trị tài sản thế chấp | Không | |
| Lãi suất | Cố định theo thời điểm hiện tại | Áp dụng lãi suất cố định theo thỏa thuận | 0.5%/tháng |
| Giấy tờ cần thiết | - Sổ hộ khẩu, CMND người vay - Giấy đề nghị vay vốn (theo mẫu) - Giấy chứng minh đi XKLĐ - Hợp đồng đảm bảo tiền vay … | - Giấy đề nghị vay vốn - Giấy chứng minh đi XKLĐ - Giấy tờ đảm bảo tài sản, ủy quyền xử lý tài sản | - Giấy tờ xác định thuộc diện chính xác - Giấy xác nhận đi XKLĐ |
Comparison table of 3 banks supporting loans for overseas labor export
II. Procedures for obtaining bank loans for overseas labor export
Once you have identified the bank that supports loans for overseas labor export, it's essential to understand the procedures and loan processes to ensure a smooth and hassle-free borrowing experience.
Loan procedures and documentation
1. Documents to prepare when borrowing funds for overseas export
Apart from the documents provided by the labor export company, such as the labor export contract, the commitment to repay the loan, and the employment confirmation, the laborer needs to prepare additional documents to complete the loan application:
- Household registration book
- Identification card/citizen's identity card
- Loan application form (according to each bank's template)
- Documents regarding collateral assets
2. Procedures for borrowing funds for overseas labor export
Follow the borrowing procedures for overseas labor export as outlined below:
- Step 1: The labor export company provides documents
- Step 2: Laborers need to complete the required documents as per the bank's request (different banks may have varying document requirements)
- Step 3: Visit and sign the credit contract with the bank
- Step 4: Transfer the borrowed money to the labor export company
- Step 5: Sign the contract and complete the emigration procedures
Each bank will have different policies for supporting loans for labor export to Japan, Taiwan, Malaysia, etc., with their own advantages and disadvantages. Consider your needs when choosing a bank and ensure you meet the bank's loan conditions.
