PPF Vietnam launches credit-consulting programme

Friday, Sep 06, 2013 14:50

Information sessions will take place in 10 Co.opmart supermarkets in HCM City and 5 Fivimart supermarkets in Ha Noi. — VNS Photo

HCM CITY (Biz Hub) – PPF Vietnam Financing Co. Ltd, the owner of the Home Credit brandname, launched a financial consulting programme on Thursday, that offers customers information about personal instalment plans and pre-contracting hints.

Under the programme, information sessions will take place in September and October in 10 Co.opmart supermarkets in HCM City and five Fivimart supermarkets in Ha Noi.

In addition, the company in collaboration with the Viet Nam Association of Standards and Consumers Protection will deliver 10,000 free copies of the handbook "Think It Through, Sign It Wisely" to customers through the supermarkets, the association's members and Home Credit's associate stores.

The handbook provides details on the fundamentals of financing, hints for instalment plan procedures, a pre-contracting reminder, and the creditor's and debtor's duties and responsibilities.

Friedrich Weiss, general director of PPF Vietnam, said: "Most Vietnamese people are not accustomed to reading and inspecting the conditions and terms of a contract in a thorough and cautious manner before bearing their signatures. Such behaviour harms the customers as they will incur penalties or receive a record of bad credit, which impacts their ongoing credit-based transactions.

"Our consulting programme is intended to remind customers to think carefully before signing any contract. Our goal is for the customer to ask many questions of our consultants before applying for a loan and signing a contract."

According to PPF Vietnam, more and more people, especially low-income earners, are interested in possessing motorbikes, household appliances and high-tech devices, giving financing companies an incentive to offer more consumer loans. — VNS

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