Vietinbank lowers interest rates for loans to five priority fields
The Vietnam Bank for Industry and Trade (VietinBank) has decided to reduce interest rates for short, medium and long term loans to five sectors deemed as priority by the Government.
Hanoi (VNA) - The Vietnam Bank for Industry and Trade (VietinBank) hasdecided to reduce interest rates for short, medium and long term loans to five sectorsdeemed as priority by the Government.
The decision is taken in line with the Government’s Resolution No. 01/NQ-CP datedJanuary 1, 2018, and the direction of the State Bank’s Governor.
Accordingly, as from January 11, interest rates will be cut by 0.5 percent peryear for short, medium and long term loans in Vietnamese dong to firms operatingin agriculture-rural development, for-export production and business, small-and medium-sized enterprises, support industry and hi-tech production.
Start-up firms with feasiblebusiness and production plans and household businesses that were upgraded into officialfirms, are also eligible for the preferential loans.
Besides, credit programmes with special interest rates will continue to beapplied to businesses with good financial status and effective production andbusiness activities.
Lending to five priority sectors of the Government account for nearly 60 percent of Vietinbank’stotal outstanding loans, which demonstrated the bank’s vanguard role inimplementing policies of the Party, the Government and the State Bank, as wellas in providing capital to the national economy’s key fields.-VNA
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At a branch of Vietinbank (Source: VNA) 
