Agribank offers 50,000 billion VND in incentives to serve production and business from only 3%

From now until the program reaches its full scale, customers can access an interest rate 2% lower per year than the floor interest rate for production and business loans corresponding to each term of Agribank.

Agribank offers 50,000 billion VND in incentives for production and business from only 3%. (Photo: PV/Vietnam+)

On March 28, the Bank for Agriculture and Rural Development (Agribank) announced that it would allocate VND50,000 billion to implement a preferential short-term loan program for individual customers serving production and business activities with interest rates starting from only 3%/year. Specifically, from now until the program reaches its scale, customers can access interest rates that are up to 2.0%/year lower than the floor interest rate for production and business loans corresponding to each term according to Agribank's regulations from time to time. The preferential program targets individual customers borrowing short-term capital to serve production and business activities. Specifically, only from 3%/year for loans up to 3 months; only from 3.5%/year for loans over 3 to 6 months; only from 4%/year for loans over 6 to 12 months. Conditions for customers to borrow capital must fully meet the lending conditions according to current regulations of Agribank and regulations of the program. In early March, Agribank also reserved 20,000 billion VND of short-term preferential credit for large enterprises with interest rates lower than the normal lending interest rate by up to 2.0%/year. Some products for corporate customers include: Term deposits, payroll services, bill payments, automatic investments, electronic tax payments, trade finance services, foreign currency trading, corporate credit cards, e-Banking./.

Vietnam+

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