Credit Products | CEP Vietnam - Quỹ trợ vốn cho người lao động nghèo tự tạo việc làm
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Products

Credit Products

1. Income Generating Loan

Target Client:

  • Workers in factories and industrial estates needing to supplement their household incomes by creating a second income-generating activity for themselves or other members of their households. Worker clients are introduced to CEP through their Trade Union or through Local Authorities.
  • Labourers engaged in agriculture, animal rearing, trading activities, the production of handmade goods, or other production activities based on client labour, who require funding to begin or expand an income-generating activity. Labourer clients are introduced to CEP by the Local Authorities in the communities in which they live.

Product Features:

  • No collateral requirements.
  • Maximum loan size of VND 30 million. The size of each loan is based on the client’s capital requirements and repayment capacity, with each loan product tailored to suit the income generating activity of the client.
  • Maximum loan term of 3 years.
  • Interest rate for Worker clients is 0.6% to 0.65% per month calculated on a flat basis, which is equivalent to 1.07% to 1.16% per month calculated on the basis of a declining balance (APR 12.9% to 13.9%).
  • Interest rate for Labourer clients 0.8% per 4 weeks calculated on a flat basis, which is equivalent to 1.5% per 4 weeks calculated on the basis of a declining balance (APR 19.8%).
  • Loan payments (principal and interest) are made in fixed equal instalments over the course of the loan.
  • Repayment frequency can be weekly, fortnightly or monthly.

Required Documents:

  • Completed loan application form (attained from CEP).
  • Copy of ID card, household registration book/temporary residency permit.
  • Copies of documents to certify salary provided by client’s factory/company (applicable only to Worker clients).

2. Housing Improvement Loan

Target Client:

  • Workers in factories and industrial estates that require a loan to undertake small housing improvements, such as the raising of floors, roof and wall improvements, and the instalment of sanitation systems. Worker clients are introduced to CEP through their Trade Union or through Local Authorities.

Product Features:

  • No collateral requirements.
  • Maximum loan size of VND 30 million. The size of each loan is based on the client’s housing improvement requirements and repayment capacity.
  • Maximum loan term of 3 years.
  • Interest rate is 0.6% per month calculated on a flat basis, which is equivalent to 1.1% per month calculated on the basis of a declining balance (APR 13.3%).
  • Loan payments (principal and interest) are made in fixed equal instalments over the course of the loan.
  • Repayment frequency is monthly.

Required Documents:

  • Completed loan application form (attained from CEP).
  • Copy of ID card, household registration book/temporary residency permit.
  • Copies of certification of house ownership or other relevant documents to certify house ownership.
  • Copies of documents to certify salary provided by client’s factory/company.

3. Education Loan

Target Client:

  • Members of households served by CEP that would like to undertake further education in order to improve their knowledge, skills, and employment prospects. The education loan product is intended to pay for the tuition costs of higher education or vocational training sourced from a formal training provider or educational institution.
  • This loan is only available to households served by CEP’s branches in the HCMC districts of Thu Duc, Binh Tan, Cu Chi and District 8.

Product Features:

  • No collateral requirements.
  • Maximum loan size of VND 20 million. The size of each loan is based on the client’s education requirements and repayment capacity.
  • Maximum loan term of 3 years.
  • Interest rate is 0.5% per month calculated on a flat basis, which is equivalent to 0.9% per month calculated on the basis of a declining balance (APR 10.8%).
  • Loan payments (principal and interest) are made in fixed equal instalments over the course of the loan.
  • Repayment frequency is monthly.

Required Documents:

  • Completed loan application form (attained from CEP).
  • Copy of ID card, household registration book/temporary residency permit.
  • Copies of relevant documents related to the training course, such as school fees, letter of offer, or book expenses.
  • Copies of documents to certify salary provided by client’s factory/company

Note - Applicable to all CEP Loans: No fees are charged on CEP loans. The interest rates on CEP’s loan products reflect the full cost of loans to the client and are consistently applied throughout the CEP branch network. All loans are repaid in fixed equal instalments, with the total payments and total amount of principal and interest paid over the course of the loan clearly documented in each loan’s repayment schedule.

Photos of clients undertaking income generating activities:

   
     

 

 

 

 







Capital Aid Fund For Employment of The Poor (CEP)
14C Cach Mang Thang Tam St., District 1
Ho Chi Minh City - Vietnam
Tel: 84 - 8 – 38 220 959 / 38 239 100
Fax: 84 - 8 – 38 245 620
Email: cephcm@cep.org.vn

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