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Updated: 2021-09-17 10:10:28

The effectiveness of applying technology in policy credit management

(VBSP News) Applying information technology to the implementation and management of loans is one of the most practical efficiency solutions in the VBSP management system. This is an inevitable development trend due to the Industrial Revolution 4.0 and the digital era. Since 2019, the management system of VBSP has simultaneously deployed the financial literacy software application on mobile phones initially made many practical effects, especially in rural and remote areas.

The effectiveness of applying technology in policy credit management

The financial literacy software has been supported and well-received by the people from its very start. Only with a smartphone with Internet connection, Mr. Ma Van Duong, Chairman of Binh Yen Commune Farmers' Association was able to clearly introduce the policy credit programs of VBSP, as well as support his member to quick and convenient loan procedures without the guide of bank officers.

Intending to become a manual, assisting customers in timely access preferential loan, also manage loan information, since 2020, the software has been employed and has received many positive effects and feasibility.

Mr. Nguyen Thanh Nam, Deputy Director of VBSP branch in Dinh Hoa District, share that borrowers can actively calculate their monthly interest. The application also timely update the amount of interest and since then there are no problems with interest payment as well as monthly outstanding interest.

There are nearly 800 customers in Binh Yen commune, who are poor, near-poor households and policy beneficiaries using policy credit sources for economic development, with a total outstanding loan of over VND 24 billion. Fortunately, many households have also approached and used financial education software. Concerning this application, a customer in Khang Thuong hamlet, Binh Yen commune, Mr Truong Cong Tieu can calculate the interest payable monthly. Therefore, he was more proactive in balancing the family's finances, gradually creating a source for escaping poverty.

He shared: "Since I have used this application, I could find information by myself at home without the help of bank officials".

As a difficult locality with mainly depends on agriculture, it is necessary for supporting people to access and effectively use loans in production. Applying technologies is one of the practical solutions to accelerate the poverty reduction in Binh Yen commune as well as Dinh Hoa district in general.




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