Agribank spends more than 140,000 billion VND to support people and businesses

Credit packages worth thousands of billions of dong are continuously deployed by Agribank to support people and businesses in the context of economic difficulties.

Since the beginning of the year, Agribank has adjusted lending interest rates five times to support customers, helping to reduce costs to focus on restructuring and restoring business operations.

The bank has recently reduced lending interest rates by 0.5% for existing medium and long-term loans from May 15 to September 30. Agribank estimates that about 2 million customers will be supported under the program with a total reduction of more than VND1,000 billion. For short-term loans, the bank has also implemented many preferential interest rate credit programs, the lowest from 4.5% per year, depending on the loan term and the borrower.

A transaction branch of Agribank. Photo: *Agribank*

Recently, the VND30,000 billion credit package for social housing loans implemented by Agribank until June 30 has also attracted the attention of many people as well as investors. Specifically, the borrowers under the program are project investors and home buyers in social housing projects, worker housing projects, projects to renovate and rebuild old apartments in the list of projects announced by the Ministry of Construction according to regulations.

The loan interest rate is 8.7% per year, applicable for three years for investors. For home buyers, the interest rate is 8.2% per year, applicable for five years. In addition to the prescribed loan limit, home buyers with additional collateral will be eligible for a maximum loan of 85% of the total investment of the project.

Agribank is one of four banks participating in the implementation of a VND120,000 billion credit package for social housing and worker housing approved by the State Bank with preferential interest rates 1.5% to 2% lower per year than the general interest rate. Accordingly, the market will be provided with about 12% of capital demand to promote the goal of completing at least one million social housing and worker housing in the 2021-2030 period.

Earlier this year, the bank reduced interest rates by 3% for real estate business customers from January 31, 2023 to December 31, 2024.

For corporate customers, from March 15, Agribank will implement a credit program of 100,000 billion VND and 500 million USD. Preferential VND loan interest rates from 5% per year, USD loan interest rates from 3% per year .

"We want to support people and businesses to optimize loan costs and promptly supplement capital sources to restructure operations, especially for priority areas," an Agribank representative added.

In addition to business activities, Agribank also actively promotes the social responsibility of "Bank for the community". From its financial resources and the response of nearly 40,000 officers and employees throughout the system, as of the first half of 2023, Agribank has spent more than 215 billion VND implementing social security and charity activities in the fields of education, health, building gratitude houses, Great Unity houses, medical stations, rural transportation...

An Nhien

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