Commercial banks lower loan interest rates

Following the State Bank of Vietnam cut the interest rate of short-term loan for some prioritized sectors, commercial banks in Ho Chi Minh City have reduced loan interest rates.
Vietnam Bank for Agriculture and Rural Development, or Agribank, offers the interest rate of 6.5 percent a year for short-term loans and 8 percent for medium and long-term ones for prioritized people as per the circular 39/2016/TT-NHNN from July 10.
Additionally, Agribank continued to cut its activity expenses to improve business and then lower loan interest rate for special sectors and lower fees in a bid to share difficulties with customers.
Meantime, VPBank also announced a decreased loan interest in short term for small and medium enterprises (SME); accordingly, short term loans for SME will go down by 0.5-1 percentage points. The new interest rate will be applied from July 10.
Since July 8, LienVietPostBank cut 0.25 percentage point for loans of all terms for enterprises with healthy activities.
Moreover, some prioritized sector will enjoy interest rate of 6 percent a year for short-term loans which 0.5 percentage point lower than the government’s the interest rate ceiling.

By HAM YEN - Translated by UYEN PHUONG

Other news

Most view

A filling station of Petrolimex

ATM cards can be used to buy gasoline from August 1

Vietnam National Petroleum Group (Petrolimex), National Payment Corporation of Vietnam (NAPAS) and Petrolimex Group Commercial Joint Stock Bank (PG Bank) yesterday signed a cooperation agreement on ATM card payment at Petrolimex filling stations.


SBV prepares bad debt settlement plan

The central bank on Friday held an online conference to prepare for the implementation of the scheme to settle non-performing loans (NPL) and restructure credit institutions in the 2016-20 period.


Self - introduction

“Taste of world” buffet in Liberty Central Saigon Center

Central restaurant is located on the 3rd floor of Liberty Central Saigon City point hotel where combines the comfort of tradition with modern design for people to experience regionally-sourced cuisine and fresh local seafood, especially lunch and dinner buffet.

Stock market

VN Index drops after two-day rise

Vietnam’s benchmark VN Index retreated from a two-day increase as large-cap stocks were brought down by profit-taking pressure.