Interest rates down, loan balance up

According to the State Bank of Vietnam, Phu Yen branch, recently, implementing the direction of the State Bank, this unit has requested commercial banks in the province to continue to reduce costs, adjust lending interest rates at all terms to support businesses and people to recover and develop production and business.

 

Currently, the common short-term VND lending interest rate for priority sectors is 4%/year. The average lending interest rate for normal production and business sectors is from 5.65-10.15%/year for short term, 7.58-11.12%/year for medium and long term. The average lending interest rate for consumer lending is from 7.52-11.89%/year for short term; from 7.61-11.75%/year for medium and long term. Compared to the beginning of 2024, the average lending interest rate has decreased from 0.1-2.5%/year. The common USD lending interest rate is from 3.4-10%/year for short term; 6.5-11.5%/year for medium and long term.

 

Also according to the State Bank of Vietnam, Phu Yen branch, by the end of November 2024, the total outstanding loans in the area are estimated to reach VND 53,180 billion, an increase of 6.8% compared to the end of 2023. Of which, short-term loans are VND 34,037 billion, accounting for 64% of total outstanding loans, an increase of 9.2%; medium and long-term loans are VND 19,143 billion, an increase of 2.7%.

 

Previously, as of the end of October 2024, the total outstanding debt in the province was VND 52,709 billion, an increase of 5.83% compared to the end of 2023. Of which, outstanding short-term loans were VND 33,655 billion, an increase of 7.99%; outstanding medium and long-term loans were VND 19,054 billion, an increase of 2.22%.

 

LE HAO

Source: https://baophuyen.vn/82/323725/lai-suat-giam-du-no-cho-vay-tang.html