Agribank continues to reduce loan interest rates from the beginning of the year

Implementing the policies and orientations of the Government and the State Bank of Vietnam on implementing solutions to support people and businesses to borrow capital to overcome difficulties, stabilize production, business and life, from the beginning of 2024, the Bank for Agriculture and Rural Development of Vietnam ( Agribank ) continued to adjust lending interest rates down.

Agribank continues to reduce lending interest rates from the beginning of 2024.

Accordingly, from January 1, 2024, Agribank will continue to adjust the interest rate policy for medium-term and long-term loans serving production and business activities, loans serving living needs with a fixed interest rate of only 7.0%/year, the applicable period is extended from 12 months to 24 months.

In addition, the bank also adjusted down 0.5%/year the floor interest rate for medium-term and long-term loans for the real estate business sector.

With the current lending interest rate, Agribank continues to send a strong message of sharing difficulties, supporting people and businesses to optimize loan costs, and promptly supplementing capital sources to restructure operations, especially for priority areas.

Previously, in 2023, on the basis of reducing input mobilization costs, Agribank made eight adjustments to reduce lending interest rates, accordingly lending interest rates have decreased sharply from 1.3% - 4%/year compared to the beginning of the year.

In addition, Agribank also implements many lending interest rate policy programs such as loans for the forestry and fishery sector, interest rate support program according to Decree No. 31/2022/ND-CP; social housing loan program according to Resolution 33/NQ-CP, loans to support individuals receiving budget salaries, loans to support medical staff; support program for rice enterprises in the Mekong Delta region...

Along with reducing lending interest rates, Agribank has implemented 3 interest rate reduction programs for existing outstanding loans of nearly 2 million customers with an estimated interest reduction amount of more than 1,000 billion VND in 2023 and will continue to be implemented in 2024.

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