Vietnam International Bank (VIB) has raised the standards in mortgage provision to homeowners across Vietnam.
Utilising advancements in technology, VIB has streamlined the mortgage application process by incorporating big data analytics, AI-driven credit assessments and automated document verification. Such innovations have lowered the approval time to eight hours from the industry standard of four to seven working days. Additionally, VIB provides pre-approved credit lines, enhancing flexibility and reducing uncertainties by allowing customers to secure finance prior to choosing their property.
Elsewhere, VIB’s digital platforms, including the MyVIB mobile app and online banking services, offer mortgage management tools. These encompass real-time loan tracking and automated payment reminders, coupled with an AI-powered mortgage assistant that provides personalised support and insights, which is crucial for managing potential financial challenges and accessing homeowner-specific advisory services.
Utilising advancements in technology, VIB has streamlined the mortgage application process by incorporating big data analytics
The bank has also demonstrated its commitment to accommodating diverse customer needs. Notably, a D30 trillion ($1.15 billion) home loan package has been made available for those aiming to purchase apartments and townhouses. This package offers a fixed interest rate for up to 18 months, flexible principal repayment options and a grace period extending to five years.
VIB also demonstrates sustainable housing finance solutions. These include offering preferential rates and incentives for purchasing energy-efficient homes and green certified properties, alongside a $30 million partnership with the International Finance Corporation aimed at improving mortgage accessibility for low-income sectors.
