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Updated: 2018-12-19 13:34:20

Leveraging financial inclusion and customer protection through VBSP

Financial inclusion is an important development direction in order to achieve the goal of providing quality and convenient services to the poor and other vulnerable groups in rural, mountainous and remote areas. Over the past years, through its activities, VBSP has contributed to ehance financial inclusion in Vietnam.

Tín dụng chính sách xã hội đã giúp cho hàng triệu người nghèo trong cả nước cải thiện được cuộc sống Ảnh: VBSP News


VBSP has a large network with 63 provincial branches, 630 district transaction offices and nearly 11,000 commune transaction points opened at head offices of commune/ward/township people’s committees throughout the country. Commune transaction points enhance access to financial services for poor people and policy beneficiaries; reduce transaction costs and travel time for customers.

In addition, VBSP has coordinated with authorities and mass organizations to set up and manage nearly 200,000 Savings and Credit groups comprises poor, near poor households and other policy beneficiaries who have demand for loans. Through this model, the poor and other policy beneficiaries have access to not only policy credit of the Government but other financial services such as payments and deposits as well etc,. There are currently 6,413,458 customers who are the poor and policy beneficiaries in rural areas have savings and transactions with VBSP.

Thanks to its extensive network, it can be said that VBSP is the largest bank in terms of network in the banking system in Vietnam, assuring customers in rural, mountainous, and remote areas can easily access banking financial services.


VBSP has paid much attention to financial training for its partners, who are officials of mass organizations and management boards of Savings and Credit groups. Training programs include knowledge, skills of managing credit, savings programs, payment services etc. At the same time, VBSP also regularly cooperates with mass organizations, Savings and Credit groups, authorities, agricultural, forestry and fishery extension agencies to assist customers through financial education activities to familiarize them with access to and use of financial products and services as well as production and business techniques to increase capacity and efficiency of using capital.


With vulnerable customers mainly in rural and disadvantaged areas who find it difficult to get loans from commercial banks, VBSP has developed many credit products to meet the needs of people. In addition to the implementation of credit programs designated by the Government, VBSP has designed savings deposit products exclusively for members of Savings and Credit groups. Accordingly, the poor and policy beneficiaries practice savings from daily expenditures to deposit a certain amount to VBSP each month (popular is VND 30,000, 50,000 ...). Heads of the Savings and Credit Groups are authorized by VBSP to collect savings from members but each member has his/her own separate account for monitoring with strict procedures and control. During the past time, there have been over 6,413,458 poor people and policy beneficiaries who are members of Savings and Credit groups participate in this activity. On one hand, the activity creates habit of saving. On the other hand, it creates favorable conditions for the poor, policy beneficiaries to access banking services.

In addition, since 2016, VBSP has deployed residential savings mobilization at Commune transaction points. Instead of going to a bank office far from their home, rural people can deposit savings into VBSP at Commune transaction points. The product brings convenience to customers living far from urban centers, contributes to mobilizing resources from the community; At the same time, brings banking products and services to the countryside.


In order to apply digital financial services into operation, VBSP has implemented the project "Mobile banking services" from 2017-2019.

The project starts by sending a periodic SMS to customers to inform balances (loan, savings), repayment schedule, overdue debt transfer, policy information ect. In 2017, nearly 5 million messages were sent to customers using mobile phones.

In phase 2, VBSP will pilot mobile banking services for Heads of Savings and Credit Groups, customers in areas where technology platform is suitable for automating transaction process, expanding services on mobile platform such as money transfer, savings deposit, bill payment, insurance etc. Thus, helping customers to access financial services to increase cost effectiveness, reduce transaction time for customers and VBSP.


VBSP establishes mechanisms to ensure interests of customers through a well-controlled process.

Lending programs of VBSP all apply preferential interest rate or interest rate nearly equal to market interest rates to reduce financial difficulties for the poor and policy beneficiaries. In addition, lending activities, debt collection, interest collection and savings deposit of VBSP are provided in convenient manner and completely free of charge at commune transaction points. Thereby, saving time and travel costs for customers.

Transaction procedures; information on lending interest rates, deposit interest rates, policies and regimes related to social policy credit are publicly disclosed at Commune transaction points, VBSP offices at all levels and Website of VBSP to ensure transparency of information and facilitate supervision of the government and people over operation of VBSP.

In addition, VBSP has a telephone hotline number, a mail box for feedback at all offices and transaction points and a forum "Questions and Answers" on the website to receive feedback from the people and customers.




Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year