Banks continue low-interest rate loans for businesses

Ten commercial banks okayed VND718 billion (US$33.7 million) loans at low interest rate to enterprises in Ho Chi Minh City.

Sacombank, Agribank, Vietinbank, Dong A Bank, AB Bank, HD Bank, HD Bank, Mekong Housing Bank,  Vietcombank, VID Public Bank, and Saigon Commercial Bank June 3 signed a credit contract worth VND718 billion (US$33.7 million) that finance businesses in District 10.
Under the contract ten banks will provide low interest rate loans to firms in the district. These enterprises will enjoy low interest of 8 percent a year for short-term loans and 11 percent for medium and long-term loans. Apart from this, Sacombank approved VND174 billion (US$8,178,000) loans with interest of 7 percent a year.
Deputy Director of the State Bank of Vietnam in HCMC Nguyen Hoang Minh said that thanks to the low interest rate program launched by the city Government more than 400 enterprises cooperatives and household businesses have borrowed nearly VND9.9 trillion (US$ 467 million) with interest ranging from 7-11 percent.

By Hanh Nhung – translated by Uyen Phuong

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