Banks roll out preferential credit packages
Many commercial banks have unveiled preferential credit packages for both individual and corporate customers.
Sacombank has a VND16 trillion (US$686.2 million) package.
Individual customers who do not have loans and are using its products and services can get credit at interest rates starting at 6 per cent for short-term loans and 7 per cent for medium-term loans for their business.
Consumer loans for purposes like buying a car and buying/building/repairing properties will be given loans at interest rates starting from 7.5 per cent for short tenors and 8 per cent for the long term.
Corporate customers can get loans starting at 5 per cent if they meet certain conditions.
The offer is valid until June 12 for individual customers and August 11 for corporate customers.
An Binh Joint Stock Commercial Bank (ABBANK) has a war chest of VND2.3 trillion ($98.7 million) to be lent at interest rates starting at 6.5 per cent to small and medium-sized enterprises in priority sectors such as food, beverages, rice, construction, supply of machinery and equipment to works using State capital, pharmaceuticals, medical equipment including masks and protective equipment, retail, logistic services, petroleum, and electronic accessories.
Besides reducing interest rates by up to 2.5 percentage points to corporate customers affected by the COVID-19 pandemic, Viet Capital Bank has also launched several preferential credit packages worth a total of VND6 trillion ($257.4 million) for SMEs.
These will be deployed until year-end.