Individual Customers
Credit security insurance
(Updated at 9:9, 21/9/2010)
Agribank provides “Credit Security Insurance” for Agribank’s customers as individuals or households. In case of insurance occurrence, Agribank Insurance Company (ABIC) is on behalf of the Borrower (authorized by the Insured) to pay Agribank an amount as stated in Certificate/Policy of Insurance.

Detailed Information:

Insurance scope and benefits: ABIC provides insurance (excluding risks to be uninsured as regulation) within Viet Nam as follows:

-  Death, Permanent Disability due to accident: Entire insurance premium

-  Death, Total Permanent Disability due to sickness, unhealthiness, pregnancy: Entire insurance premium

-  In addition, benefits under supplement terms will be applied.

 Insurance duration: 01 year or under agreement, or as follows:
-  Based on loan term or remainder of loan term

-         01 year and annual renew for long term loan in Agribank, customer will be issured for loan duration.

Insurance Premium: stated in Certificate/Policy of insurance, that is the maximum amount paid by insurer for occurence; It is a loan approved by bank (for under VND 100 million); It is a loan of VND 100 million if customer approved to borrow over VND 100 million.  


+ Charge for year/person = (charge rate (under age and insurance premium) x insurance premium.

+ Charge (short term, long term) = Annual charge x charge rate (short term, long term)

+ Charge based on insurance amount, age of the Insured, term and additional condition.

+ In case of insurance under loan term: charge is paid once at the date of lending and issuing Insurance Certificate/Policy and determined respectively (annual charge, long term charge, short term charge) and insured amount.

+ For 01 year insurance (in case of long term loan over 01 year), charge is determined based on charge rate and insured amount.

+ Charge is impenetrability to hundered in final calculation. For example, under VND 50 is impenetrability to VND 0, over VND 50 is impenetrability to VND 1000

 - Effective insurance: stated in Certificate/Policy of Insurance and after payment (for sickness and unhealthiness, the Insurance takes effect after 30 days since the date of premium settlement);The constant renewal certificate of insurance will take effect immediately if the insured paid all agreed premium in next term.

 The Insured: a person age from 18 to 60 (in case of from 60 to 65, this person must purchase the Certificate/Policy continuously from 59) is approved by bank or nominated by creditor.

 Distribution channel

Customer can choose direct distribution channel at any transaction branch/office of Agribank 

Agribank uses Interbank payment customer account system (IPCAS) which automatically keeps track of customer’s information and account, changes, and ensure the best safety and accuracy.

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