Some banks have lowered lending rates and have policies to support customers damaged by the Covid-19 epidemic.
Some banks have lowered lending rates and have policies to support customers damaged by the Covid-19 epidemic.
According to Nguyen Hoai Chieu - Director of the State Bank - Khanh Hoa Branch, under the direction of the State Bank of Vietnam, Khanh Hoa Branch has asked the branches of credit institutions in the province to develop measures to overcome damage caused by the Covid-19 epidemic.
Accordingly, banks will balance the capital to meet the needs for production and business. In addition, the banks will review and grasp the fact of production and business, the damage of borrowers by the Covid-19 epidemic, especially tourism, agriculture, export ... to promptly apply measures to support and remove difficulties for customers such as rescheduling debt payment, considering loan interest exemption or reduction... At the same time, they will proactively guide and support the people in the process of handling requests to remove difficulties regarding loan activities.
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According to the representative of Agribank Khanh Hoa, the branch has directed its branches and subsidiaries to regularly monitor, review and grasp the situation of production and business, the damage of customers who are borrowing loans due to the influence of Covid-19, especially in sectors and fields that could be affected such as tourism, restaurants, hotels, agriculture, exports, especially enterprises using materials imported from China and export products to China. At the same time, the bank branch will directly work with customers affected by Covid-19 epidemic to determine the extent of damage and promptly apply measures to support and remove difficulties for customers such as rescheduling debt payment terms in debt, considering exemption and reduction of loan interests, balancing and promptly meeting the demand for new loan capital in order to maintain and stabilize production and business, and proactively guiding and timely supporting customers in the process of handling requests to remove difficulties regarding loan activities.
Vietcombank is also implementing customer support solutions. Specifically, the bank will support businesses and individuals in production and business in the fields of transportation, travel services, restaurants, hotels, foodstuffs, customers to China in the fields of agriculture, fishery, textiles, footwear... Accordingly, from February 11 to April 30, Vietcombank restructures debt payment terms, extends repayment terms and not fines overdue. With regard to existing loans, the bank reduces interest rates by 1%/year for short-term loans and 1.5%/year for medium and long-term loans in VND; reducing interest rate by 0.5%/year for short-term loan balance, 0.75%/year for medium and long-term loan balance in USD loans. For new loans, Vietcombank will reduce interest rate by maximum 1%/year for loans in VND and 0.5%/year in USD for customers who meet loan conditions.
Kienlongbank has also decided to reduce lending rates to support customers who grow fruits to mainly export to China. Specifically, Kienlongbank will reduce interest rate by 3%/year for existing customers with the purpose of borrowing to grow dragon fruits, watermelons, durians, jackfruits, mangos, rambutans, bananas, etc. The period of applying interest rate reduction is from February 1 to April 30. During this time, Kienlongbank will support customers to reduce loan interest and give free overdue fines to help customers overcome difficulties and restore production and business in the coming time…
Nam Du
Translated by T.T
