Advance against Securities is a credit product that supports customers by making advance of the securities sale precedes while they are waiting for receipt of securities sale proceeds securities companies.
- Borrowers can withdraw money in advance after selling their securities without having to wait 3 or 4 days as regulated by State Securities Commission of Vietnam.
- High advance value
- Object: Individuals who carry on securities business and are in need of advance while waiting for receipt of securities sale proceeds.
- Repayment method: Principal and interest shall be paid when proceeds from selling securities are paid to the borrower’s account.
- Loan Conditons
- Individuals who can meet lending conditions of BAOVIET Bank
- Individuals who have transaction at the securities companies signing cooperation contract about securities advance loan with BAOVIET Bank
- Maximum loan term is 5 working days
- Maximum loan limit is less than or equal to the sale proceeds value of the auctioned stocks less any fees and taxes (if any)
- Interest can be collected when the proceeds are disbursed or upon the loan maturity.
- Collaterals: The security property is the right of collecting proceeds from selling the securities.
- Loan application form cum credit contract (according to BAOVIET Bank’s form)
- Notice of Successful Stock Auction of Securities Company
- ID Card (copy)
- Transaction Authorization Letter (if any)
- List of advance borrowers with the approval of Securities Company.
To find out more information, please call BAOVIET Bank Customer Sevices Center. Tel: 1900 55 88 48 or (04) 39 38 19 19