The family of Mr. Ha Duc Tai in Linh Son commune received a reduction in interest rates on their employment program loan from the Lang Chanh branch of the Vietnam Bank for Social Policies.
In accordance with Decision No. 2553/QD-TTg dated November 21, 2025, of the Prime Minister on adjusting lending interest rates for policy credit programs, the Vietnam Bank for Social Policies (VBSP) in Thanh Hoa has promptly reviewed and applied new interest rates from December 1, 2025. Accordingly, interest rates have been reduced for 19 credit programs funded by the central government. Specifically, lending rates for poor households, students, and university students have decreased from 6.6%/year to 6.24%/year; for production and business households in disadvantaged areas and traders in disadvantaged areas, from 9%/year to 7.8%/year; for clean water and rural sanitation, from 9%/year to 8.4%/year; for near-poor households, from 7.92%/year to 7.488%/year; and for newly escaped poverty households, from 8.25%/year to 7.8%/year. The new interest rate applies to existing loan balances as well, meaning people receive an immediate interest reduction without having to re-complete any procedures. Since these interest rate reduction programs account for a large proportion of households borrowing capital throughout the province, the impact is significant and immediate.
Mr. Ha Duc Tai's family in Linh Son commune borrowed 100 million VND from the Lang Chanh branch of the Vietnam Bank for Social Policies (VBSP) under the employment creation program to develop a clean chopstick production model. In 2025, due to the impact of storms and floods, his production facility had to temporarily cease operations at many times; the products were damaged by flooding. Therefore, when the loan interest rate was reduced from December 1st, 2025, Mr. Tai was very happy, saying: “Besides worrying about life after the floods, my family was worried about where we would get the money to pay the bank interest when the repayment deadline came. When I received the notification that the interest rate on my loan would be reduced, I felt less worried. Thanks to the government's policies and the bank's support, my family has more support to overcome this difficult time.”
Mr. Tai's story is one of thousands of cases of borrowers at the Vietnam Bank for Social Policies (VBSP) in Thanh Hoa province facing difficulties after the natural disaster. As soon as the floodwaters receded, the bank directed its branches to coordinate with commune-level People's Committees, socio- political organizations, and savings and loan groups to review 100% of affected borrowers. The verification process was carried out urgently to create risk management files according to regulations, including debt extension, debt restructuring, or debt write-off for eligible cases.
According to Le Viet Toan, Deputy Director of the Lang Chanh branch of the Vietnam Bank for Social Policies (VBSP), "The reduction in interest rates under Decision No. 2553/QD-TTg not only brings practical benefits to borrowers but also clearly demonstrates the Government's concern for people in disadvantaged areas. This policy helps reduce financial pressure on borrowing households. At the same time, it creates conditions for people to expand production, develop trade, create jobs, increase income, stabilize their lives, and contribute to improving the effectiveness of poverty reduction and socio- economic development programs in the locality. Immediately after the decision was issued, we publicly posted the new interest rates at commune transaction points. The People's Committees of the communes also publicly posted the new interest rates, directed savings and loan groups to directly inform the people; updated the new interest rates on the system, and applied them automatically to all loans. To date, all customers have had their interest rates adjusted downwards as stipulated."
By the beginning of December 2025, the total outstanding loans under credit programs in Thanh Hoa province reached over 16,453.4 billion VND with 299,570 borrowers. Along with the timely implementation of interest rate reduction policies, the Thanh Hoa branch of the Vietnam Bank for Social Policies (VBSP) is currently expanding and implementing comprehensively and effectively various policy credit programs, focusing on areas such as loans for poor and near-poor households, newly-escaped-poverty households, production and business households in disadvantaged areas, social housing loans, student loans, job creation, and rural water and sanitation.
To ensure the policy reaches the right target group, the Thanh Hoa branch of the Vietnam Social Policy Bank (NHCSXH) directs its transaction offices to closely monitor the situation at the grassroots level, coordinate with the government, mass organizations, and savings and loan groups to fully review the list, publicly display the new interest rates, and provide transparent guidance on procedures, helping people to understand the policy in a timely manner and reduce financial pressure. This reduction in interest rates for policy credit programs demonstrates the timely and humane intervention of the Party and State in listening to the concerns and aspirations of the people, contributing to supporting people in stabilizing their lives and confidently restoring production and business, thereby further affirming the important role of policy credit in ensuring social security for the people.
Text and photos: Khanh Phuong
Source: https://baothanhhoa.vn/tiep-suc-cho-ho-ngheo-va-gia-dinh-chinh-sach-271600.htm
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