TYM launches a credit package to support members affected by the epidemic

02/11/2021

From September 28, 2021, TYM launches loan products to support TYM members affected by the epidemic with preferential interest rates and grace period policy.

With the desire to share difficulties with customers and the community in the fight against the Covid-19 pandemic, over the past time, TYM has actively implemented many solutions to strengthen the prevention of Covid-19. Moreover, TYM also implemented many policies and programs to support women who are TYM customers affected by the epidemic and the communities where TYM operates. In order to continue to support members to soon stabilize their lives and restore production and business, TYM will spend up to VND 250 billion to lend to members affected by the epidemic:

Subjects: 1. Members of the areas that are taking measures to prevent the Covid-19 epidemic according to Directive 16/CT-TTg dated March 31, 2020 or higher epidemic prevention measures than Directive 16/ CT-TTg for 14 consecutive days or more. 2. Members in the above-mentioned areas have finished implementing measures to prevent Covid-19 epidemic according to Directive 16/CT-TTg or higher epidemic prevention measures than Directive 16/CT-TTg within a period of time. 02 months (from the time of finishing the implementation of Covid-19 prevention measures according to Directive 16/CT-TTg or higher epidemic prevention measures than Directive 16/CT-TTg).

Loan purposes: Supporting members to borrow loans to serve their life needs due to the impact of the Covid-19 epidemic; supplement capital for investment in agriculture, forestry and fishery, industry development, product processing and consumption, business, trade and service in order to restore production and improve the lives of members and their families.

Repayment: every week or every 4 weeks

Loan term: 25 or 50 weeks (for weekly repayment terms) and 24 or 52 weeks (for 4-week repayment terms)

Loan amount: from VND 1 million to 15 VND million

In particular, members will enjoy a maximum grace period of 8 weeks. The interest rate of this type of loan is preferential compared to some other loan products of TYM and is specified in detail from time to time. Along with using this loan product, a member can still have outstanding loans with up to 2 other types of TYM’s loans provided that the total outstanding balance of the member at a time does not exceed VND 50 million. With the deployment of capital to support members affected by the epidemic, TYM hopes to promptly meet the capital needs of women to restore production and business activities. This also shows TYM’s efforts and determination in effectively implementing and promoting supportive policies from the banking industry; at the same time, showing the responsibility of a unit under the Central Committee of the Vietnam Women’s Union that is always ready to share, accompany and support women to overcome the difficult period caused by the Covid-19 epidemic.

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