Low loan interest suggests for poor people in disadvantaged districts

The Vietnam Bank for Social Policies announced poor households in impoverished districts will enjoy a 0.325 percent interest reward per month from banks.

This is due to the Prime Minister’s decision on Dec. 31, 2013 regarding loan interests in remote districts. The current interest reward rate for households in poverty in regular districts is 0.65 percent.

These households in impoverished districts are allowed to take loans of up to VND 10 million per household to buy breeding cattle, water-fowl, farming, and fish farming. They can enjoy low-interest rates for three years.

The law for changed interest rates was in effect on Jan. 1, 2014

The bank will offer an additional VND10 million to households who have already borrowed the maximum if they use it to purchase breeding cattle, poultry, or farming specialties.

By Ham Yen - Translated by Uyen Phuong

Other news