Conditions and dossiers for borrowing bank loans in Vietnam

When people wish to borrow bank loans for business purposes or daily life, they must fully satisfy the conditions for bank loans. The following are the conditions for bank loans in Vietnam nearest.

Conditions and dossiers for borrowing bank loans in Vietnam

1. Conditions for borrowing capital from banks in Vietnam

Pursuant to Articles 7 and 8 of the Circular No. 39/2016/TT-NHNN, credit institutions in Vietnam shall consider granting a loan to a customer that meets the following requirements:

- The client is a juridical person who has legal personality in accordance with the laws.

If that customer is an individual aged 18 or older, he/she must have full legal capacity in accordance with laws and regulations or must be aged between 15 and less than 18 years, and must not have his/her legal capacity lost or restricted in accordance with laws and regulations.

- The demand for loans for legal use.

A credit institution may not provide loans to meet its capital needs:

- For investing in the business lines banned by law.

- For payment of expenses, meeting financial needs of transactions, acts prohibited by law.

- For buying, using goods, services of business lines banned by law.

- For buying gold bullion.

- Loans used for repaying loan interest incurred during the construction process, loan interest cost is included in the total construction investment approved by a competent authority in accordance with law.

- Loans used for repaying a loan to another credit institution and repaying a foreign loan, except in the case where a loan is granted to repay a loan before the due date when all of the following conditions are satisfied:

+ Be a loan for business activities;

+ The loan term must not exceed the remaining loan term of the former loan;

+ The loan is not used for debt rescheduling.

- Having feasible capital use plans.

- Having financial capability to pay debts.

- If the borrower takes out a loan from a credit institution at the loan interest rate specified in Clause 2 Article 13 of the Circular No. 39/2016/TT-NHNN, it shall be considered that it has a transparent and healthy financial status by the credit institution.

2. Application file for a loan from a bank in Vietnam

When there is a demand for a loan, a customer must prepare the following documents:

- Documents evidencing the satisfaction of conditions for borrowing loans in Item (1);

- Other documents as guided by the credit institution.

Diem My

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