Agribank Khanh Hoa intensifies credit to support businesses to recover and develop production and business

Sharing difficulties with the business community after the impact of the Covid-19 pandemic and following the direction of the National Assembly, the Government and the State Bank of Vietnam, Agribank implemented many preferential credit programs, low interest rates, creating conditions for businesses to access capital at a reasonable cost to restore and develop production and business activities.

In order to create favorable conditions for enterprises to expand their production and business scale to foreign markets, from July 17 to December 31, Agribank implemented a preferential credit program to sponsor import and export customers. Subjects of application of the program are enterprises engaged in production and trading of export and import goods (export of rice, meat, seafood, coffee, agricultural products, handicrafts...; import of beverages, fertilizers, machinery and equipment, petroleum, cosmetics, building materials, etc.). The program applies to short-term loans with diverse lending methods suitable to the working capital needs of enterprises. Preferential interest rates are up to 1%/year lower than Agribank's current lending interest rate floor for each term. In addition to preferential interest rates, customers participating in the program also enjoy attractive incentives on foreign currency exchange rates and service fees. The program has a scale of up to VND 25,000 billion.

In addition, with the goal of supporting and creating conditions for project investors and house buyers to quickly access preferential credit capital to meet the housing needs of low-income subjects, Agribank implements a loan program for social housing, worker housing, renovation and rebuilding projects of old apartments in accordance with Resolution No. 33 of the Government on a number of solutions to remove and promote the real estate market to develop safely and sustainably. Borrowers under the program are project investors and buyers of houses in social housing projects, workers' houses, renovation and reconstruction projects of old apartment buildings on the list of projects approved by the Ministry of Finance. The program will be implemented from 3-4 days until the disbursement reaches VND 30,000 billion, but not later than December 31, 2030. The period of preferential interest rate for investors is 3 years from the date of disbursement, but not exceeding the loan term in the original loan agreement.
Implementing Decree No. 31 dated May 20, 2022 of the Government and Circular No. 03 of the State Bank of Vietnam dated May 20, 2022 on interest rate support from the state budget, Agribank implemented support policies on interest rate subsidy of 2%/year on the actual loan interest rate from the state budget for loans of enterprises, cooperatives and business households in order to support the process of socio-economic recovery and development, continue remove difficulties and support customers affected by the Covid-19 epidemic.

Up to now, Agribank's lending interest rate has dropped sharply with a decrease of 2% to 4%/year compared to the beginning of the year. Previously, with the spirit of companionship, sharing and responsibility with customers, Agribank Khanh Hoa reduced the lending interest rate by 0.5%/year for the existing medium and long-term loans of customers, the application period for valid from May 15 to September 30. With the current lending interest rate, Agribank Khanh Hoa wishes to share difficulties, support people and businesses to optimize borrowing costs, and promptly supplement capital to restructure operations, especially for small businesses priority areas.

In addition, in order to show gratitude to medical staff and to meet the demand for consumer loans and use payment services, Agribank spent VND 10,000 billion to implement a consumer loan program with preferential interest rates. incentives for medical staff. Accordingly, the preferential lending interest rate is up to 1.5%/year lower than the lending interest rate floor of Agribank, depending on the loan term. The implementation period applies to disbursements arising from December 1, 2022 to December 1, or until the program's scale is exhausted.

For detailed information about preferential credit programs, please contact Agribank's Customer Care and Support Center: 1900558818 or at Agribank's transaction points nationwide.

Thu Ha
Translated by T.T