Orient bank joins US insurer to offer car loans

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Orient Commercial Joint Stock Bank and US Liberty Insurance have announced a new joint-loan service for local car buyers.

The bank will offer a 100 percent loan to the customers who want to buy a car while US Liberty will supply insurance for the loan, said the agreement signed Friday.

The agreement said the loan might be up to 60 months in Vietnamese dong.

Trinh Van Tuan, the bank's CEO said the plan would benefit its customers.

The bank which is partially owned by the French BNP Parisbas would offer a discount rate of 0.5 percent per year off the standard interest rate.

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