Working capital is crucial for business operations. A shortage of short-term funds or delays in loan renewals can disrupt cash flow, directly impacting sales and operational efficiency.
Responding to this need, VietinBank has simultaneously introduced two digital financial solutions for business customers. These initiatives aim to shorten loan application processes and enhance proactive cash flow management.
Specifically, the FastFlow solution provides an unsecured overdraft facility for customers with existing secured business loans at VietinBank. This additional limit, equivalent to 10-20% of the current loan value, can go up to 1 billion dong without requiring additional collateral.
The entire application process is completed online via the VietinBank iPay Mobile application. Customers can submit loan requests, track application progress, and utilize the overdraft limit online 24/7. This capital helps customers supplement short-term working capital for inventory purchases, operational expenses, or to seize emerging business opportunities.
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Loan solutions tailored for business customers. Photo: VietinBank. |
In addition to providing new capital, the bank also offers a quick business loan renewal solution for customers whose short-term VietinBank loans are approaching renewal. Customers receive OTT notifications as their loans near the renewal period, allowing them to proactively apply for renewal directly through VietinBank iPay Mobile.
The application process is streamlined for maximum customer convenience, with a renewal limit of up to 800 million dong. After completing the application, customers can track its progress on the iPay application and initiate online disbursement 24/7.
VietinBank states that digitizing the renewal process saves customers time and enhances their ability to manage cash flow and business plans proactively.
Beyond credit solutions, the bank also implements a supporting ecosystem for business customers, including: awarding 600,000 dong to customers maintaining high payment account balances each month; offering "beautiful" account numbers valued up to 20 million dong; increasing payment account interest rates by five times to 0.5% per year; providing free sales software; and offering solutions like payment notification speakers, iShop sales software, and OTT Voice.
Notably, customers who integrate software, payment notification speakers, or conduct business on e-commerce platforms with an average monthly account balance of 30 million dong receive rewards up to 1.5 million dong.
According to a VietinBank representative, combining capital solutions with management, payment, and technology tools helps business customers optimize operational costs and enhance financial management efficiency in an increasingly competitive market.
Minh Ngoc
Customers can register for and experience these solutions via the VietinBank iPay Mobile application or contact their nearest VietinBank branch for detailed consultation.
