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Banks offer preferential interest rate credit packages to support enterprises

TQO - Amidst the complicated developments of the COVID-19 pandemic, a number of banks in Tuyen Quang province have offered several preferential interest rate credit packages to support enterprises’ production and business activities.

The Vietnam Joint Stock Commercial Bank for Industry and Trade – Tuyen Quang Branch (VietinBank Tuyen Quang) has deployed a credit package with lending interest rates ranging from 6,8% - 7% per year as well as reduced money transfer fees for business customers.

Since the beginning of April, the Bank for Development and Investment of Vietnam - TuyenQuang Branch (BIDV Tuyen Quang) has restructured the repayment period for loans and reduced its interest rate for 35 local enterprises. In addition, it has also deployed a credit package worth VND5 trillion for its individual customers and a VND10 trillion package for business customers with an interest rate of only 6,5% per year.

The local branch of the State Bank of Vietnam has directed local banks to effectively implement measures to expand credit related to production and business as well as accelerate the reform of administrative procedures in order to create favourable conditions for their borrowers.

The Bank for Development and Investment of Vietnam – Tuyen Quang Branch (BIDV TuyenQuang) actively devises solutions to support its customers.

Thank to several appropriate methods, so far, the whole province has nearly 1,100 customers being supported in loan exemption and reduction and the restructuring of their original debt, whilst 43 new customers have been provided with loans worth a total of VND61 billion.     

It can be seen that many banks in Tuyen Quang have offered preferential loan packages amidst the COVID-19 outbreak, contributing to creating favourable conditions for local enterprises and household businesses to get loans in order to continue to develop their business activities.

Hai Huong

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