Many banks announced lending interest rates of only 2.4%/year - lower than savings, the reason is to promote credit growth right from the beginning of the year.
All down interest rate loan
Nowadays, many bank Commercial banks are implementing early repayment loan programs, with common interest rates ranging from 5-8%/year, depending on the loan term and customer conditions. In the context of State Bank With the industry-wide credit growth target set at 16% this year, commercial banks have stepped up the launch of preferential loan packages since the beginning of the year, aiming to boost credit growth and contribute to supporting the 8% GDP growth target set by the Government .
For example, Agribank has implemented 4 programs. loan for corporate customers. Accordingly, the lending interest rate for large enterprises, import-export, FDI, small and medium enterprises is reduced by 1.2-1.8%/year compared to the normal interest rate, depending on the subject, loan term and other factors; loan repayment is 2.4%/year... According to records, this short-term lending interest rate is currently equal to the 3-11 month savings interest rate at Agribank (from 2.5 - 3.5%/year).
Since early February, Vietcombank has launched a preferential interest rate loan program for individual customers borrowing short-term production and business capital with a floor interest rate of only 4.6%/year.
Also right after Tet, ACB Bank announced a loan package for people under 35 years old. This loan package allows customers to borrow for up to 30 years, with preferential interest rates from 5.5%/year, up to 3% lower than regular home loans.
According to a survey of PV Tien Phong , preferential lending interest rates for state-owned banks in February are from 1.2 - 5.5%/year. Interest floating rate fall to around 6.5 - 7.7% within 2-3 years. This interest rate is about 0.2 - 0.5% lower than in 2024.
For private commercial banks, the preferential interest rate for the first year is from 5 - 6.5%/year. Floating lending interest rates are from 10.8 - 20%/year. This interest rate is also 0.1 - 0.2%/year lower than in 2024.
Credit growth lever
In a recent assessment, VNDirect predicted that demand credit demand This year will mainly come from businesses in the fields of trade, manufacturing and construction. Therefore, banks with strengths in these sectors are expected to achieve impressive credit growth and financial results. In addition, public investment will be the main driver of credit growth this year. Banks lending to state-owned enterprises, construction companies and public investment companies will have outstanding credit growth next year.
In operation credit limit, the State Bank leader said the target is 16%, but it can be higher if inflation is still controlled. The State Bank will continue to facilitate commercial banks. If commercial banks actively lend to the right subjects and effectively promote capital resources as well as ensure safety and soundness, they will be more proactive in implementation.
According to economist Dinh Trong Thinh, lending interest rates remain low because, under the direction of the State Bank, banks must reduce costs to support people and businesses to borrow capital. Accordingly, the lending level remains low and has gradually decreased since 2024. The difference between deposit and lending interest rates is low, only about 1.5 - 3%/year, and some banks even launch loan packages equal to savings interest rates.
However, Mr. Thinh said that currently, lending interest rates are facing some pressure but basically remain stable in the first quarter. The expert also expressed concerns that lending interest rates may be adjusted upward in the following months when the USD index may increase in the middle months of the year, along with the pressure on the exchange rate between USD and VND that may change.
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