Loan interest rates for low-income families, students decrease

The interest rate for loans to low-income families and students decreased from 7.2 percent per year or 0.6 percent a month to 6.6 percent a year or 0.55 percent a month.

As per the Prime Minister’s decision No.750, the interest rate of some credit program carried out in the Social Policy Bank will be adjusted.

For instance, loan for the program of environment hygiene and fresh water in countryside or for household business in disadvantaged districts will be decreased from 9.6 percent a year or 0.8 a month to 9.0 percent a year or 0.75 percent a month.

The decision will take effect by June 5, 2015 and be applied for new loans after the date.

By Phan Thao – translated by Uyen Phuong

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