What is a MFI? This term refers to Microfinance Institutions. TYM was licensed by the State Bank of Vietnam as a MFI in 2010.
What is Microfinance (MF)? Microfinance is the provision of small loans (known as microcredit) to low-income households in order to help them engage in production activities or start small businesses. Microfinance is often accompanied by a range of other services such as credit, savings, and insurance, as poor and low-income individuals have a significant need for financial products but face difficulties accessing formal financial institutions.
What is a Microfinance Institution (MFI)?
A microfinance institution is a type of credit institution that primarily carries out certain banking activities to meet the needs of low-income individuals, households, and micro-enterprises.
(According to the State Bank of Vietnam)
Who are TYM’s clients?
Women who wish to avail loans from TYM, aged between 18 and 65 at the time of first joining TYM, having full civil legal capacity, having permanent residence registration or long-term temporary residence registration in the locality, and voluntarily participating in TYM.
Belonging to one of the following groups:
- Poor households, near-poor households, and individuals from such households as defined by the Government;
- Low-income individuals, including:
- Contracted workers in urban areas earning no more than VND 9 million per month;
- Contracted workers in rural areas earning no more than VND 7 million per month;
- Informal workers in urban and rural areas earning no more than VND 9 million and VND 7 million per month, respectively;
- Low-income households;
- Micro-enterprises.
In addition, organizations and individuals (aged 15 and above) may participate in certain deposit products at TYM in accordance with regulations.
What loan products does TYM currently offer? Currently, TYM offers a diversified range of loan products to meet the needs of different client groups and borrowing purposes. You may refer to detailed information here.
Where should I contact if I want to join TYM? You may contact the nearest branch using the contact information provided here.