Agribank implements many capital incentives for life, production, business and forestry and fisheries

Agribank offers preferential loans to customers for their living needs; preferential loans to customers for production and business; preferential loans for forestry and fishery sectors...

I. Incentives for customers borrowing capital to serve their living needs: With the desire to support more and more customers to access Agribank's preferential loans to serve their living needs, Agribank has allocated about 10,000 billion VND to implement a preferential short-term loan program for individual customers to serve their living needs with interest rates from only 4.0% / year. Applicable subjects: Individual customers who need consumer loans to serve their living needs, including: Buying houses, land, building new/renovating, repairing houses; buying essential household items (TV, washing machine, refrigerator, air conditioner...); means of transport (car, motorbike) and other consumption purposes according to Agribank's regulations. Preferential interest rate: The lending interest rate is up to 2.5%/year lower than the lending interest rate floor for living needs, specifically: - Only from 4.0%/year for loans up to 03 months - Only from 4.5%/year for loans over 03 to 06 months - Only from 5.0%/year for loans over 06 to 12 months Loan term: Short-term loans. Lending method: Loan by installment, loan according to overdraft limit on payment account. Implementation time: Applicable to disbursements arising from March 25, 2024 until reaching the scale of the Program. Lending conditions: Borrowers fully meet the lending conditions according to current regulations of Agribank and regulations of Program II. Incentives for customers borrowing capital for production and business: With the desire to support more and more customers to access preferential loans from Agribank for economic development, Agribank has allocated about 50,000 billion VND to implement a preferential short-term loan program for individual customers serving production and business activities with interest rates from only 3.0%/year.

Applicable subjects: Individual customers borrowing capital for production and business activities. Interest rate: 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, specifically: - Only from 3.0%/year for loans up to 03 months - Only from 3.5%/year for loans over 03 to 06 months - Only from 4.0%/year for loans over 06 to 12 months Loan term: Short-term loans. Lending method: Loan by installment, loan by limit, loan by overdraft limit on payment account. Implementation time: Applicable to disbursements arising from March 20, 2024 until reaching the scale of the Program.

Loan conditions: Borrowers must fully meet the loan conditions according to current regulations of Agribank and the program's regulations. III. Implementing the policies of the Government and the State Bank, promoting the role of a key commercial bank in investment and development, Agribank continues to implement a preferential credit program for the forestry and fishery sectors with a scale of 8,000 billion VND. The loan recipients are legal entities and individuals with projects/plans serving production and business activities in the forestry sector (forestry and related service activities, purchasing, consuming, exporting, processing, preserving forest products) and aquaculture (exploitation, aquaculture, purchasing, consuming, exporting, processing, preserving aquatic products). The program will be implemented until June 30, 2024 (or until the program is exhausted). The preferential interest rate of the program is at least 1% - 2%/year lower than the average lending interest rate of the same term of Agribank in each period. In addition, customers are also entitled to a maximum reduction of up to 50% of service fees for international payment and trade finance fees (import L/C issuance fee, export L/C notification fee, bill of lading endorsement fee, export L/C payment fee, etc.) and exemption or reduction of some other service fees. In 2023, the domestic economy faces many challenges due to global socio-economic fluctuations. The forestry and fishery sector has continuously encountered difficulties in the international market, causing domestic raw material prices to fall sharply in most major specialized areas across the country. Implementing the Government's policy, the State Bank has implemented accompanying solutions to remove difficulties. In just 5 months of implementing the forestry and fishery incentive program, Agribank has disbursed VND 3,000 billion in credit capital to more than 2,000 customers who are individuals, production households and enterprises across the country. Of which, VND 2,300 billion supports customers in exploiting, farming, purchasing, processing and exporting aquatic products and more than VND 700 billion sponsors forestry production and business activities. In early 2024, the forestry and fishery sector received many positive signs when export turnover in the first two months of the year increased by 50.3% over the same period last year. Accompanying the forestry and fishery sectors to achieve development expectations by 2024, the State Bank has recently increased the scale of the credit program for this sector from VND 15,000 billion to VND 30,000 billion.

In addition, Agribank is dedicating VND 65,000 billion in preferential interest rate credit capital for SMEs, large enterprises, Groups/Corporations and enterprises investing in projects in 6 key industries, green fields and VND 80,000 billion in preferential credit for individual customers borrowing for consumption, expanding production and business. Corporate and individual customers who need to learn more about the Preferential Credit Program, please contact the Customer Care and Support Center: 1900558818/02432053205 or at 2,300 Agribank transaction points nationwide.

VNA

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