Many business loan packages with preferential interest rates launched

SGGP
The State Bank of Vietnam Ho Chi Minh City Branch (SBV-HCMC Branch) has recently asked local credit institutions to continue implementing solutions to support and remove difficulties for borrowers affected by the Covid-19 pandemic according to the regulations on debt repayment rescheduling, exemption, and reduction of interest rates and fees, and new loans following Circular No.01/2020 and Circular No.03/2021 of the SBV.
Besides, credit institutions must cut costs as much as possible to create financial resources to support customers, people, and enterprises. Noticeably, the SBV-HCMC Branch requires credit institutions to publicize the supportive interest rates and supportive measures and policies for the people and enterprises to know. Thereby, enterprises can easily grasp the bank policies when they need capital.

Joining hands to support enterprises to overcome the Covid-19 pandemic, many commercial banks also offer loan packages with supportive interest rates. For instance, Sacombank has just launched a loan package of VND10 trillion to support export enterprises and businesses to overcome difficulties in production and business activities from now until the end of this year, with interest rates ranging from 4 percent per annum to 6.7 percent per annum, depending on the business sector, the scale of operation, and the repayment period.
From now until the end of September 30, VPBank will promote unsecured loan packages, with a credit limit of up to VND3 billion. At the same time, it will also lower lending interest rates for small and medium-sized enterprises by 0.5-2 percent per annum to help them reduce financial pressure to restore production and business activities.

By Nhung Nguyen – Translated by Gia Bao

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