Banks promote credit growth

Recently, many commercial banks in the province have increased capital supply to the market through a series of credit packages with attractive interest rates; at the same time, they have committed to simplifying procedures, reducing time for appraisal and approval of documents, creating favorable conditions for customers to access loans.

BIDV Binh Dinh staff introduces credit packages and convenient services for young individual customers who want to buy or rent houses. Photo: T.SY

At BIDV Binh Dinh, the outstanding credit package of 40,000 billion VND for young individual customers who want to buy or rent a house, with an interest rate of 5.5%/year fixed for the first 3 years, the following years the interest rate is equal to the 24-month term capital mobilization interest rate plus 3%/year. Director of BIDV Binh Dinh Nguyen Thi Ngoc Quynh said: The loan term of the above credit package is 40 years, customers do not have to pay the principal within 5 years applied to a maximum amount of 5 billion VND/customer. For projects with a commitment to dedicate at least 30% of total output to young people, the bank applies an interest rate of 6%/year fixed for 2 years for investors, the following years will be lower than the normal interest rate by 1 - 2%/year.

Along with promoting consumer lending, banks are approaching and introducing a number of credit packages with attractive interest rates and simple procedures to customers who are businesses that have, are, and will implement projects in the province.

Meanwhile, Agribank Binh Dinh has introduced to customers many credit packages for a number of priority sectors and fields according to Circular 39/2016 of the State Bank of Vietnam with interest rates of 4.5%/year for short-term loans and 8.9%/year for medium-term loans for organizations and enterprises; from 4.5 - 9.2% for individuals. For other subjects, the interest rate for short-term loans for business and living needs for enterprises is from 7.5 - 10%/year; medium and long-term loans for individuals are from 7.5 - 10.3%/year.

Not outside the above trend, many private banks have launched a series of credit packages with attractive interest rates for customers borrowing for consumption, production and business. Mr. Pham Van Khoa, Deputy Director of Sacombank Binh Dinh, said: The bank is popularizing to customers a credit package of 20,000 billion VND for individual and corporate customers. If choosing a short-term loan, the interest rate is from 4%/year; medium and long-term loans, the interest rate is from 6.5%/year. In addition, customers are also given a payment account by phone number, free annual fee for corporate cards... For other credit packages, the bank applies the lowest short-term loan interest rate of 5.2%, the highest is 7.3%; the lowest medium-term loan is 8%/year, the highest is 10%/year. We are committed to creating favorable conditions for businesses and people to borrow capital for investment in many fields.

MINH HANG

Source: https://baobinhdinh.vn/viewer.aspx?macm=5&macmp=5&mabb=343764