Several Vietnamese banks have begun rolling out preferential lending programs for small and medium-sized enterprises (SMEs) after the State Bank of Vietnam called on commercial lenders to offer loans at rates at least 1 percentage point below their average rates for comparable maturities.
National Citizen Bank (NCB) announced a 0.5 percentage-point annual cut across its lending packages for both individual and corporate borrowers on August 11. For individuals, rates now start at 8.49 percent per year for secured loans, including mortgages, business financing, and consumer loans.
For SMEs, NCB has reduced rates by 0.5 percentage points across all maturities, with short-term loans starting at 10 percent annually for the first three months. The bank is prioritizing financing for green projects, the digital economy, construction and building-material suppliers, as well as businesses involved in major national infrastructure projects.
NCB is also offering a 0.5 percentage-point reduction to large enterprises operating within supply chains and business ecosystems, with rates starting at 10.45 percent per annum. The program targets large-scale infrastructure projects, particularly nationally significant developments.
Agribank, meanwhile, has launched a VND70 trillion (US$2.7 billion) credit package running through 2028. Interest rates will be 1-2 percentage points below the bank's average lending rates for loans of comparable maturities.
Eligible borrowers include SMEs, businesses, and individual entrepreneurs operating in priority sectors such as agriculture, rural development, supporting industries, high technology, exports, the digital economy, artificial intelligence, semiconductor manufacturing, processing and manufacturing, and projects classified as green.
According to the State Bank of Vietnam, four commercial banks have so far registered to participate in preferential credit programs, with combined commitments expected to reach around VND210 trillion.
The cheaper loans are expected to ease financing costs, strengthen businesses' cash flow and support investment and production, helping channel credit toward sectors seen as key drivers of economic growth.
