Banks reduce interest rates to help flood-hit areas stabilize life

Typhoon Yagi caused serious and heavy damage to people, property, livestock, crops, and socio -economic infrastructure. According to statistics of typhoons in the past 30 years, Yagi caused the third highest loss of life, after Linda (1997) and Frankie (1996). Economically, Yagi was the typhoon that caused the greatest damage. As of September 21, the estimated economic damage was 61,000 billion VND, leading to a possible decrease of 0.15% in the country's GDP in 2024 compared to the proposed scenario.

Customers transact at Nam A Bank

To overcome the severe consequences of storms and floods, commercial banks have promptly implemented many programs and policies to adjust and reduce lending interest rates for customers to accompany the Government and the State Bank to focus on stabilizing people's lives, restoring production and business, and promoting economic growth.

As of September 23, 32/40 banks have registered new credit packages under the direction of the Prime Minister , with a total amount of up to 405,000 billion VND, interest rates reduced by 0.5 - 2% to support businesses and people affected by Typhoon Yagi.

As one of the pioneering banks in proactively implementing plans to accompany people in the Northern provinces to overcome the consequences of natural disasters, stabilize their lives soon, and contribute to the sustainable development of the country, Nam A Bank promptly implemented the program "Connecting people - Rising up for development" with many policies to adjust and reduce interest rates for all customers who suffered heavy losses due to storm Yagi, with interest rate reductions of up to 1%/year.

The program "Connecting compatriots - Rising up for development" aims to join hands to support customers to soon stabilize their lives.

Accordingly, Nam A Bank reduces interest rates by up to 1%/year for existing loans, interest rates from only 5%/year for new loans, loan limit up to 85% of collateral value to support customers affected by natural disasters to build/repair houses, purchase equipment/build/repair fixed assets for production, business and consumption to serve life.

Nam A Bank believes that these interest rate adjustment policies will create favorable conditions for customers affected by storms and floods to quickly recover and develop production and business activities, and stabilize their lives.

In addition to adjusting interest rates, with the spirit of "mutual love" and "helping each other", Nam A Bank has recently donated 2 billion VND through the Central Committee of the Vietnam Fatherland Front and joined the Miss Cosmo organization to spend 500 million VND to quickly support essential necessities for people in flood-affected areas to overcome difficulties.

At the same time, units throughout the Nam A Bank system, especially in the Northern region, went to each location where people suffered heavy losses in terms of human life and property to share and encourage them spiritually and materially in order to join hands with people in flood-affected areas to overcome losses and pain during this difficult period.

Source: https://www.congluan.vn/ngan-hang-giam-lai-suat-dong-hanh-cung-ba-con-vung-bao-lu-on-dinh-cuoc-song-post313890.html