Commercial banks in
Commercial banks in
Many credit programs for year-end time
In previous years, demand for capital often rose 2 – 3 times in year-end time while banks reduced lending as they had fulfilled their target. However, this year sees a reverse. At present, banks are offering low lending interest rates and many preferential services for businesses.
SeABank has launched a financial package of VND2,000 billion with low interest rates to lend small and medium-sized businesses of seafood, household goods, production, export and process.
MB Bank has a credit package of VND2,000 billion for small and medium-sized businesses that rank A-grade in credit, have no bad debts and use eMB service. The program gives priority to businesses majoring in key export, distribution, electricity and electronics equipment.
HDBank is offering a lending program with preferential interest rates for individual customers. Accordingly, customers who want to add more capital for business or buy houses to stay will be given an interest rate of 8.6% per annum for the first three months of the term.
Sacombank Khanh Hoa will open credit for Tet business with low interest rates, especially supplementing short-term capital for businesses to prepare goods for Tet and supporting year-end consumption. Loan applications will be solved in three days.
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| At Sacombank Khanh Hoa |
Regulations on interest rates implemented strictly
Doan Vinh Tuong, director of the State Bank’s Khanh Hoa Branch, said, “Credit organizations have to implement capital mobilization comprehensively and effectively, balance capital and its use actively to ensure payment and respond credit demands, especially in the coming Tet holiday. Credit expanse has to be carried out effectively to support economic growth reasonably and partly restrict inflation. Credit’s quality has to be supervised to raise business effect and keep the banking system safe.”
“Lending interest rate is not a problem. In comparison with one year ago, lending interest rates have reduced sharply and borrowers are given more favors. However, credit organizations have to comply with regulations and directions of interest rates from the State Bank, apply interest rates suitable with deposit interest rates and loans’ risk, save cost and not collect any fees, except the prescribed ones”, he emphasized.
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