Home Credit Vietnam opens a promotion programme

August 12, 2015 | 08:00

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Czech-backed consumer lender MTV Home Credit Vietnam has launched a promotion programme for its customers.

From August 10, 2015 to September 24, 2015, all customers signed contracts worth at least VND5 million ($234.7) to buy phone products, ipads, laptops, computers, motorbikes or power-fired bicycles by installment at shops which co-operate with Home Credits can participate in the promotion programme at the shops.

All participants will won the prizes including 30 special prizes worth scholarships of VND5 million ($234.7) each, and dozens of thousands of other prizes such as tourist bags, packpacks and rain coats. The scholarships will be deducted from the monthly installment.

Procedures for the loans are very simple and will be completed within only 10 minutes. Customers are required to introduce their identity cards, family record books or driving licences (for loan worth VND10 million ($469.5) to the shops.

According to Home Credit’s statistics, 70 per cent of its loans have been used to purchase mobile phones. The most popular mobile phone brand names are Samsung (25 per cent), Nokia (20.2 per cent) and Oppo (18.7 per cent). Only 11.5 per cent of customers bought iPhone.

Some 52 per cent of mobile phone buyers have sought loans for six to 12 month terms, and 47 per cent have enjoyed loans for three to six months. More than 50 per cent of the buyers fall below the age of 30. Some 63 per cent are male.

Nearly 70 per cent of borrowers purchase phones at a price of VND3-8 million ($141-375.6). Only 15 per cent buy products for more than VND8 million ($375.6).

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