BIDV to cut annual lending interest rate by 0.5 percent
The Bank for Investment and Development of Vietnam (BIDV) will cut down its lending interest rate for short-term loans in VND for prioritised sectors by 0.5 percent to 6 percent per year from January 15.
Hanoi(VNA) – The Bank for Investment and Development of Vietnam (BIDV) will cut downits lending interest rate for short-term loans in VND for prioritised sectors by0.5 percent to 6 percent per year from January 15.
The preferential ratewill be applied to customers operating in export, support industry, hi-techindustry and hi-tech agriculture.
At the same time, thebank will continue running large-scale loan packages with preferential interestrates that are lower than the normal rate by 1-1.5 percent per year forcustomers in the Government’s priority list. They include 10 trillion VNDpackage for small and medium-sized enterprises, 20 trillion VND for largefirms, and 3 trillion VND for micro enterprises and startups.
Earlier, Agribank,Vietcombank and Vietinbank also announced their plans to cut interest rates forloans in five prioritised sectors to assist people and businesses in accessing capital,thus boosting economic growth.-VNA
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Illustrative photo (Source: VNA) 
