Bank for Investment and Development of Vietnam (BIDV), on Wednesday, announced a new credit package worth VND10 trillion (US$480 million) at an interest rate of only 9 percent a year.
|A customer at a BIDV branch in HCMC (Photo: SGGP)|
New and short-term ‘Grade A’ loans can avail of the new credit package in Vietnamese currency, but which will not be applicable for stock and real estate businesses.
Interest rate of 9 percent will be applicable from date of loan disbursement until December 31, after which time, the interest rate will return as normal.
On the same day, SeABank introduced the L/C UPAS scheme (Letter of Credit Usance Paid at Sight) for importers, who will be able to receive credit for upto 180 days on basis of orders received.