08:36, 14/08/2023
TRecently, commercial banks (commercial banks) continuously adjusted the deposit interest rates. This is aimed at the ability to access cheap capital for many audiences.
Many banks reduce lending interest rates
Since the beginning of the year, many commercial banks have continuously lowered the deposit interest rates. According to a reporter's survey, more than 13 banks have adjusted their interest rates, down from 0,1 to 0,5 percentage points at tenors. In which, the group of state-owned commercial banks are: Joint Stock Commercial Bank for Industry and Trade of Vietnam (VietinBank), Bank for Agriculture and Rural Development of Vietnam (Agribank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Foreign Commercial Bank. Vietnam Commercial Bank (Vietcombank) simultaneously reduced interest rates from 0,1 to 0,3 percentage points.
Lending interest rates at some banks have also decreased. On June 30, Agribank reduced lending interest rates for the sixth time in a year. Up to now, Agribank's lending interest rates have dropped sharply, with a decrease of 6% - 2% per year compared to the beginning of the year. Before that, Agribank also implemented a program to reduce lending rates by 4%/year on all existing medium and long-term loans of customers, the application period is from May 0,5, 15 to the end of March 5. September 2023.
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| Customers make transactions at Thuan Man Transaction Office (Ea H'leo district) of Vietcombank Dak Lak system. |
From August 1, Vietcombank reduced interest rates by 8%/year on all loans of individual and corporate customers. This is the third time this year that this bank has reduced lending interest rates to customers.
At some joint stock commercial banks such as: Kien Long Commercial Joint Stock Bank (KienlongBank), Vietnam Maritime Commercial Joint Stock Bank (MSB), Lien Viet Post Commercial Joint Stock Bank (LPBank), Vietnam International Commercial Joint Stock Bank (VIB)... also adjusted lending interest rates by 0,5 percentage points for outstanding loans.
Previously, at Resolution No. 97/NQ-CP of the Government's regular meeting in June 6 and the Government-local online conference, the Government requested the banking industry to continue implementing synchronous solutions, drastically reduce interest rates, especially lending rates (striving to reduce by at least 2023-1,5%), research and apply to both new loans and outstanding loans. .
Implement many preferential loan programs
In addition to reducing lending interest rates, banks have implemented many preferential lending programs in a number of areas. One of the preferential lending programs that has received a lot of attention recently is the fact that 12 commercial banks have registered to participate in the lending program for the forestry and fishery sector, with a credit capital of about approx. 15.000 trillion dong.
This is a program implemented under the direction of the Government and the Prime Minister on assigning the State Bank of Vietnam to "research and propose a credit package of VND 10.000 billion to support enterprises in the manufacturing and processing industries. forestry and fishery products”. Priority is given to customers who have projects/plans to serve production and business activities in the field of forestry and fishery products, which will be eligible for loans with a minimum lending interest rate of 1-2%. %/year compared to the average lending interest rate of the same term of the lending bank applied in each period. The implementation period of the program is applied until the end of June 30, 6.
Agribank also announced the preferential credit program to finance export and import customers in 2023 with a scale of VND 25.000 billion. The program is applied from July 17, 7 to the end of December 2023, 31 (or until the program's scale is exhausted and according to the new notice of Agribank). 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, etc.); import of beverages. , fertilizers, machinery and equipment, petroleum, chemicals, cosmetics, building materials, etc.). When participating in the program, customers will enjoy a preferential interest rate up to 12%/year lower than the current lending interest rate floor of Agribank for each term range.
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| Transaction activities at a unit of Agribank Dak Lak system. Photo: Intelligent |
BIDV is also implementing a credit package for commercial real estate with a scale of VND 20.000 billion. Investors implementing commercial housing projects that have a feasible loan plan, ensure legality, have good marketability and are suitable for the actual demand for housing in the market will be supported. loans with interest rates from 8,5%/year. For individuals, the loan interest rate applies from 7,8%/year…
From the reduction of deposit interest rates, lending rates and the implementation of many preferential loan packages, there are positive "signals" for credit in the coming time. Many businesses and individuals expressed their expectations for the positive moves of the banking industry.
According to Mr. Tong Van Hieu, Director of Minh Tam Agricultural Import-Export Trading Company Limited (Krong Pac District), the bank's moves to reduce interest rates have partly supported businesses in the current difficult context. “Currently we are approaching a loan at a bank with an interest rate of 8,3%/year. This is not really the desired interest rate of businesses, but in the current context, this is a reasonable interest rate and has also supported businesses a lot in business and production activities," Mr. Hieu shared.
Dinh Hang
