 |
Illustrative image |
To stimulate business operations and consumer spending, Sacombank has recently launched a credit program worth VND30 trillion aimed at individual customers. Out of this total, VND20 trillion is designated for supporting short-term business activities, including agricultural production, offering an interest rate starting from 7.5 percent per annum. The remaining VND10 trillion is set aside for loans to assist in property acquisition, construction, refurbishment, and diverse consumer requirements at an interest rate of 9 percent per annum.
Particularly for customers making their inaugural home purchase for a personal residence, upon meeting the stipulated requirements, they will qualify for a reduced interest rate of just 8 percent per annum. Sacombank has confirmed that the repayment term for this credit package offers flexibility and may extend up to a maximum of 30 years.
MSB has introduced a special short-term collateralized loan package amounting to VND20 billion, tailored for household businesses preparing for year-end operations and requiring capital infusion. In line with this, customers seeking short-term business loans backed by secured assets will qualify for a competitive interest rate of 9.5 percent per annum. Notably, both new and existing customers who are presently utilizing unsecured loans with MSB and are in need of supplementary capital for business operations will have the advantage of a preferential interest rate of 8.99 percent per annum.
Furthermore, MSB offers personalized financial solutions to entrepreneurs through an integrated unsecured business loan package, extending credit limits of up to VND1.5 billion. The application process is streamlined, requiring only a single set of documents.
 |
Sacombank has recently launched a credit program worth VND30 trillion aimed at individual customers. |
Likewise, BVBank is rolling out a consumer demand-boosting loan package worth VND7 trillion, available until December 31, 2023. This package features enticingly low interest rates, starting at 8.8 percent per annum, reducing up to 2 percent per year to facilitate customer access to lending capital.
It is not only private commercial banks but also State-owned commercial banks (Big 4) that have lending support programs in place. Specifically, Agribank has recently introduced a credit initiative worth VND3 trillion targeting the forestry and aquatic sectors. This program is effective until June 30, 2024, and could conclude sooner upon the complete disbursement of the allocated VND3 trillion.
Meanwhile, Vietcombank has recently cut the VND lending interest rate by 0.5 percent per year, applying to all personal and business loans taken during five months spanning from August 1 to December 31, 2023. This marks the bank's third interest rate reduction since the beginning of the year.
