Easy Credit expands lending services in southern Vietnam

Easy Credit, a brand name under the Consumer Credit division of EVN Finance JSC has continued to expand its business network to the provinces in the Mekong Delta and south-eastern region of the country.

Easy Credit is expanding its lending services to the southern region of Vietnam

Specifically, Easy Credit has offered its cash-based loaning service to nearly 20 cities and provinces, especially in rural areas, after more than three months of operation since its official launch in early October 2018.

With its cautious and firm steps, Easy Credit has been gradually implementing a plan to make its easy and convenient consumer finance services available in all localities nationwide.

Easy Credit expects to launch its business in Hanoi and northern provinces in this year’s second quarter, and continues to expand its nationwide service network by end 2019.

Under a motto of bringing the most convenient experience to its customers, only Easy Credit is now offering cash loan package without asking them to come to designated locations.

After completing online loan application documents through Easy Credit’s website or filling in loan application form over the phone with the support of the company’s staff, customers just have an appointment with representatives from Easy Credit at their most convenient place. Representatives from the company will support customers complete their documents.

“We always believe that the best offer and the best customer experience always wins. We are restless in exceling ourselves to provide broader access to affordable financing options to the Vietnamese customers. We want to grow Easy Credit to make a difference on Vietnamese consumer finance market and give customers better choice, wherever they are,” said Slawek Wilski, sales director of Easy Credit.

According to the latest statistics by Easy Credit, nearly 90 per cent of customers got the approval within 24 hours after submitting online form through website. Currently, Easy Credit’s monthly loan applications grows by over 150 per cent on average.

Also, based on statics in December 2018, the value of a current average cash loan of Easy Credit customers is estimated at around VND25 million ($1,086) with an average loan term is 27 months.

Nguyen Mai Long, general director of Easy Credit said, “I think the consumer finance demand of Vietnamese people will keep rising in 2019. According to statistics by the Ministry of Planning and Investment, in October 2018, the average per capita GDP in Vietnam in 2018 is around $2,540 which is still rather far from target of $3,500 in 2020, while consumer demand of the residents keeps rising thanks to efforts of demand stimulus by retail enterprises community.”

“Although Easy Credit just launched its business in early October 2018, it has seen positive feedbacks to its consumer loan service from consumers. We are trying our utmost to expand the business so that cash loan packages can reach residents in the western region, offering them loan packages when needed and helping them get rid of traps from loan sharks and illegal money lending based on recent recommendations by the State Bank of Vietnam,” he said.