Consumer credit loans increased faster

Contributes to the cost not much higher than the buyout, financial companies are attracting consumers to borrow more. Perhaps, yet have financial services would reach the market as fast as consumer loans of finance companies. Joined the market with the original form is common for loan in the retail electronics, motorcycles, this service is now also reaching out both to traditional markets in the countryside. Amid the URBAN COMMERCIAL are focusing on large-value loans collateral standard debt loans, the credit lending models accept small dishes of financial company grown as rapidly.

Consumer credit loans increased faster
The quick browsing, deferred. The consumer lending market really boom at the time in 2015, when the consumer lending sector of the URBAN COMMERCIAL preparation of implementing rules part of consumer lending out loans as collateral standard. At the same time, the corporations to make investment climate roadmap in addition to industry, the rubber financial company, coal mining, petroleum finance was the URBAN COMMERCIAL buy back securities consumer loans under the new regulations. Immediately, the year 2015 consumer finance company FE Credit (VPBank) new introduction but pass up at number one, the market share accounted for 53%. In the remaining positions, Home Credit accounted for 16%, HD Saison Finance (HDBank) occupy 12%, Prudential Finance accounted for 11%. Typically, Home Credit after more than 8 years of operation to date there have been over 1 million used motorcycle loan service ...

Consumer loans spilling about rural and industrial areas, access to low-income people. Consumer loans have interest rates average about 30-40% per year, if the incorrect term repayments plus interest penalty will be higher. However, the recent products 0% interest installment appears more and more. Meanwhile, a review of consumer loans in the retail for about 30 minutes, the consumer just has the identity/credential citizen, or a driver is able to satisfy the request. This is attracting a large number of consumers, especially for students, students, low income households ...

For example, in chain stores world Mobile, Samsung Galaxy phone J7 Pro with the original sales price of 6.99 million. Meanwhile, Home Credit is for 0% interest loan, the borrowers pay about 2.1 million (30%), then the 4-month installment, 1.26 million each month plus a monthly fee of 11.5 thousand Dong/times. In total, costs the borrower is charged is close to 7.14 million. So, buy a phone Samsung Galaxy J7 Pro higher only installment of approximately 150 thousand copper compared to "sell buyout segment"-not too big expenses to consumers wholesalers that immediately, instead of waiting until the salary, or enough money to buy new middlemen.

Consumer credit loans increased faster


Be careful with growth. According to statistics, in the first 5 months of the year 2017, outstanding consumer loans by the TCTD constitute 15.17% of total outstanding system wide, equivalent to about 1 million billion. In it, Ho Chi Minh City is having the speed of fast consumer loans for the country. If the year 2015, total outstanding consumer loans in only about 80,000 billion then to 6/2017 this number has tripled, outstanding touch on 250 trillion level. The financial firm said the last time consumer credit continued to trend up in terms of both scale and speed. The field of lenders focuses primarily on the demand for loans to buy houses, vehicles, learning, healing, travel ... Through it, basically meet the needs of the people and contribute to stimulating domestic consumption.

In the same perspective, a financial expert in Ho Chi Minh City for that time consumer credit growth also coincided with the time of Vietnam became the average income countries. The countries of this income threshold is reached, the working class Middle-back-up money and start spending more shopping. However, with the case of Vietnam, the per capita income of just over $2,000/year, then the ability to accumulate is not much. The expectation of rising income, in the context of social spending is more than the factors that promote consumer credit, as in the case of Vietnam.

However, according to economic experts, in an economy if consumers excessive growth also comes the risk of new work produced in the country. As with Vietnam, we have signed several trade agreements with a commitment to put the import tax of 0% level. This meant that the production will have more competition, some COMPANIES choose to do beneficial trade immediately, instead of producing goods. This trend can affect people's income. This is the risk to the financial markets. A source from the SBV told reporters the Bank bad debt, times of group finance companies we have fairly high level, and some companies are located in the SBV's restructuring plan.

According to economic experts, in an economy if consumers excessive growth also comes the risk of new work produced in the country. As with Vietnam, we have signed several trade agreements with a commitment to put the import tax of 0% level. This meant that the production will have more competition, some COMPANIES choose to do beneficial trade immediately, instead of producing goods. This trend can affect people's income. This is the risk to the financial markets.



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