A customer borrows money at an SHB transaction office in Hanoi (Photo: VNA) According to the fund’s representatives, the preferential interest rates areapplied in accordance with Resolution No 105/NQ-CP dated July 15, 2023, ofthe Government on tasks and solutions to remove difficulties for production andbusiness.
Besides the fund, many banks have also continued to provide loans for firmswith low interest rates.
For example, from now until May 30, 2024, corporate customers borrowing capitalfor production and business at SHB will enjoy preferential loan interest ratesfrom only 6.97% per year. Accordingly, SHB will set aside 5 trillion VND withinterest rates from 6.97% to support firms in supplementing short-term workingcapital. Enterprises that enjoy the SHB’s incentives include female-ownedenterprises and enterprises operating in priority fields such as agriculture,forestry, fisheries, exports, high technology, transport infrastructure,education, healthcare and green projects.
At the same time, SHB will also spend 1 trillion VND for corporate customerswho need loans for car purchases with loan terms of 36 months or more. Based onneeds and capital usage plans, customers can choose preferential interest ratesfrom 7.5% per year for the first six months or from 9% per year for 12 months.
According to the State Bank of Vietnam, deposit interest rates in the lastquarter of a year in previous years often increased to attract idle capital tobanks to serve the rising lending needs of people and firms for year-end, butthis year is different as deposit interest rates at most banks are anchored atlow levels and some even continue to decrease.
Specifically, deposit interest rates at some banks such as VPBank, ACB and BacA Bank have continued to decrease by 0.15 - 0.3 percentage points for manyterms since early this month.
The highest deposit interest rate at VPBank is only 5.5% per year for 12-monthand 13-month terms, instead of the previous rate of 5.8% per year. Tenors from6-9 months also decrease from 5.3% per year to 5.1% per year.
At ACB, the interest rate for deposits under 200 million VND, with a term of6-9 months, decreases from 5-2-5.3% per year to 5-5.1% per year. For depositsfrom 200 million VND to less than 1 billion VND, the rate is added 0.1% peryear while for deposits of 1 billion VND or more, the rate is added 0.05% peryear./.
VNA
