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Thứ Tư, 21:28 3/4/2013

Five prioritised sectors enjoy 11pct short-term lending rate ceiling

21:28 | 4/3/2013 |  0 feedback
The maximum interest rates on short-term Vietnamese dong loans were lowered from 12pct to 11pct per year for five prioritised:

Source: internet

sectors including agriculture, exports, supporting industries, small and medium-sized enterprises (SMEs) and hi-tech businesses following the central bank's move last week to cut the short-term dong deposit rate caps by 0.5pct.

The move aims to help prioritised sectors have easier access to bank loans to overcome current financial difficulties and boost the national economy which resulted in the lowered lending rates for these sectors at 9pct - 11pct per year and for other sectors at 11pct -13pct by State-owned commercial banks and 12pct - 15pct by joint stock commercial banks.

Remarkably, some enterprises of the prioritised sectors who were in healthy and transparent financial situations and had effective production plans already enjoyed lending rates from only 9pct to 10pct per year. Meanwhile, lending rates on US dollar loans remained unchanged at 5pct - 7pct per annum for short terms and 6pct - 8.5pct per annum for long terms.

In response to the central bank's move, the Ho Chi Minh City Housing Development Bank (HDBank) offered a loan of VND1,500 billion ($72 million) with an annual interest rate of 11pct for SMEs who need additional working capital for production and export-import activities.
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