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Updated: 2021-06-07 09:48:58

Safety transaction during COVID-19 pandemic

(VBSP News) Dealing with the unpredictable situation of the Covid-19 pandemic, VBSP branch in Phu Yen district has not only prevented the pandemic but also ensured the transaction session is safely and timely served, meet the need of poor households and other policy-based beneficiaries.

A transaction in Xuan Long commune, Dong Xuan district

5K Rules are strictly performed

The prevention of the Covid-19 has been strictly implemented by VBSP staff and other participants. This was shown through the commune transaction activities of the VBSP branch in the area.

The commune transaction on May 23, 2021, was postponed due to the 15th National Assembly elections for the period of 2021 - 2026. To tackle this, the VBSP branch in Phu Yen province organized the compensating transaction on May 25, at the People's Committee of Ward 8, Tuy Hoa city. Following the 5K rules, Ms. Nguyen Thi Nguyen, living in Tran Phu street, Ward 8 wears her mask, uses hand sanitiser and sits 2 meters apart to do the transaction. Nguyen shares that she was carefully advised by the leader of the Savings and Credit group about measures to prevent the pandemic. She encourages these activities and appreciates the support of VBSP staff. 

Le Thi Mong Hong - the leader of the Savings and Credit Group of 49 members - shares that she always wore a mask, used hand sanitiser and sat 2 meters apart whenever she checked loans, collected interest and savings. 

The Director of the VSPB branch in Dong Xuan district, Mr. Nguyen Ngoc Hung states that the branch strictly followed the directive on the prevention of the Covid-19 epidemic. Both VBSP staff and customers have to wear masks, keep a distance of 2 meters, and disinfect things such as tables, computers, laptops, etc. in every transaction. The disbursement and recovery of debts will be conducted in shifts to limit people's exposure. 


Timely meet the demand of borrowers 

The VBSP's transaction points are put in 110 communes, wards, and towns in the Phu Yen district. Compared to other credit institutions, VBSP's transaction points have a wide range of activities, namely lending, interest and debt collection, and savings. 

Moreover, about 2.250 Savings and Credit groups are actively working in remote areas. This creates opportunities for rural people to approach the loans easier. Hence, measures to prevent Covid-19 are grasped thoroughly by the VBSP branch in Phu Yen. Besides preventing the pandemic, the Phu Yen branch still maintains commune transactions in each commune, ward and town, ensuring that the capital will be delivered to the poor and other policy-based beneficiaries on time. 

In the first half-year of 2021, the VBSP branch in Phu Yen has disbursed VND 529 billion for 19.126 poor households and other policy-based beneficiaries met the demand of borrowing money for 6.841 customers and created job opportunities for 2.858 workers. 2.825 students under difficult circumstances get study loans. 9.714 clean water constructions are built. There are 2.061 poor households that borrow money to invest in manufacturing businesses. 

In addition to implementing measures to prevent Covid-19, the VBSP branch in Phu Yen continues to extend debts for customers affected by the pandemic. At the same time, the bank also creates opportunities for the poor and other policy-based beneficiaries to borrow money to stabilize their life and escape from poverty.




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