Reduce bank loan interest rates for people affected by natural disasters

(PLVN) - Faced with the mounting difficulties of people and businesses, implementing the State Bank's dispatch, many commercial banks have stepped in to reduce interest rates, postpone debt, and provide capital support to help people and businesses quickly restore their lives and stabilize production and business.

Agribank representative said that, in the face of the particularly serious damage caused by the historic storm and flood in the Central and Central Highlands regions, Agribank General Director Pham Toan Vuong and the Agribank working delegation recently visited and worked with branches in Khanh Hoa and Dak Lak provinces to grasp the situation; at the same time, directed Agribank branches to urgently activate special operating status; review and strengthen response measures, on-call, ensure safety of treasury, payment system, cash supply, maintain smooth banking operations in the still complicated natural disaster conditions.

“Urgently review the entire credit portfolio, accurately identify the customer groups affected by floods, based on the level of damage, units immediately deploy preferential credit packages for customers, specifically adjusting the loan interest rate down from 0.5% to 2%/year, not collecting late payment interest; at the same time, adjust the overdue interest rate to 100% of the loan interest rate within the term for 3 months, from November 19, 2025 to February 18, 2026”, said Agribank General Director Pham Toan Vuong.

For new loans arising from November 19 to December 31, 2025, Agribank reduces the loan interest rate by 0.5%/year compared to the interest rate applied at the time of disbursement, applicable for a maximum period of 6 months from the date of disbursement.

VietinBank is also reviewing the damage to customers in the storm and flood areas and implementing a preferential credit package until the end of 2025. A representative of VietinBank said that the bank will reduce loan interest rates by a maximum of 2 percentage points compared to the normal level, and the approval process will be shortened so that people and businesses can quickly access capital to repair their homes, restore production and business, supplement working capital or invest in new machinery. "We prioritize maximum disbursement speed so that customers' work is not interrupted," a representative of VietinBank affirmed.

Previously, VPBank representative announced the implementation of an interest rate support package of up to 1,000 billion VND for customers in 15 provinces and cities affected by storms and floods, with a maximum reduction of 1%, continuously for 6 months. ABBANK also applied an interest rate reduction of up to 2.8% for individual customers and small and medium enterprises with existing loans in disaster areas. Short-term loans of enterprises are supported for 3 months, while medium and long-term loans are applied preferentially for 6 months.

Source: https://baophapluat.vn/giam-lai-vay-ngan-hang-cho-nguoi-dan-bi-anh-huong-thien-tai.html