Some banks reduce lending interest rates up to 3 percentage points

The wave of lowering lending interest rates to support individual and corporate customers facing difficulties when the Covid-19 epidemic broke out continued to be deployed by many commercial banks.

Vietnam Maritime Commercial Joint Stock Bank (MSB) said it has just adjusted its lending interest rate by up to 3 percentage points per year compared to the current interest rate until the end of 2021 to support people and businesses against the impact of the Covid-19 epidemic. -19.

Specifically, for MSB customers, interest rates are reduced by up to 3 percentage points per year when borrowing capital for business (business households) and 1 percentage point per year when borrowing capital for agricultural production and business, buy house. This is a big profit reduction of MSB in 2021 with a total limit of nearly VND 5,000 billion.

HDBank is implementing a loan program for production, business and consumption with interest rates from 3%/year

For corporate customers, MSB implements policies to support businesses that are existing and new customers in the fields of import-export business, pharmaceutical-medical trade, and state budget construction. interest rates from 5.5%/year for VND and from 3%/year for USD. Total preferential credit packages for businesses at MSB in 2021 is VND 12 trillion.

The International Commercial Joint Stock Bank (VIB) also reduced interest rates for more than 8,500 individual and corporate customers with an average interest rate reduction of 1.5 percentage points from this July, focusing on customers that are heavily impacted. of the Covid-19 pandemic.

Accordingly, based on the impact assessment of the Covid-19 epidemic, VIB will reduce interest rates for customers affected by the Covid-19 epidemic who are businesses in the government’s priority industries, small and medium enterprises, Individual and corporate customers in other sectors are affected…

Vietnam Development Commercial Joint Stock Bank (HDBank) also said it would reduce interest rates for nearly 18,000 borrowers, with an average reduction of 1 percentage point per year for the three groups of customers affected by the epidemic. Including customers in the area of ​​​​blockade, prolonged distance according to Directive 16.

HDBank is also implementing a preferential credit package with an interest rate of up to 4.5 percentage points compared to the current interest rate for corporate and individual customers, without requiring proof of Covid-19 damage.

In addition, in order to share the burden of space rental costs that are causing difficulties for business households and micro-enterprises, helping to reduce the pressure of debt repayment in the first time, HDBank has a preferential credit package such as product Business and consumption production with interest rate from 3%/year, grace period of 6 months…

According to statistics of the State Bank of Vietnam, from the beginning of 2021 to now, 19 credit institutions have publicly announced credit programs and products with preferential interest rates, creating favorable conditions for customers to recover. manufacturing business. Currently, the maximum short-term lending interest rate in VND in some priority sectors and fields is at 4.5%/year. The average lending interest rate for new and old loans with outstanding balances of commercial banks is generally 8-10%/year.

Regarding the loan interest rate reduction from now until the end of 2021, there have been a series of commercial banks announcing interest rate reductions such as Vietcombank, Vietinbank, BIDV, Agribank, ACB, Sacombank, Ban Viet, etc.

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