The signing ceremony between Easy Credit and Bao Minh Insurance Company in HCM City. — VNS Photo Thu Ngan

Consumer credit company Easy Credit on Wednesday tied up with Bao Minh Insurance Corporation to launch a new product that secures borrowers from defaulting on loans if they or their spouse fall sick.

Bao Minh will pay both hospital fees and the loan given by Easy Credit.

Thus, if a customer has a loan of VND26 million ($1,200) from Easy Credit payable in two years, they need to pay only VND65,000 a month while the insurance company will pay the rest.

Easy Credit has also tied up with VASS Assurance Corporation and Global Insurance Company (GIC) to offer customers several other insurance products.

Nguyen Hoang Hai, general director of EVN Finance, Easy Credit’s parent company, said: “We have tied up with insurance companies to bring our customer the best supporting solutions in case they face unexpected risks.”

EVN Finance provides credit to enterprises with priority given to those in the power sector.

It also provides capital consultancy and arrangement, corporate bond issuance consultancy and clean development consultancy, with a focus on renewable energy projects. — VNS