In order to contribute to the economic recovery and growth, following the direction of the National Assembly, the Government and the State Bank of Vietnam, Agribank has implemented many preferential and low-interest credit programs to support customers.

In the first months of 2023, by reducing costs and reducing deposit interest rates, Agribank has four times reduced lending interest rates. Accordingly, for new borrowing needs for production and business, the current lending interest rate (3-month term) is only from 6% p.a., medium and long-term lending interest rates from 9.5% p.a.

In addition, from March 15, 2023, Agribank launched a credit program of VND 100,000 billion and USD 500 million for manufacturing, trading and import-export enterprises with preferential VND lending interest rates only from 5% p.a., USD loan interest rate is only from 3% p.a. for 3-month term.

Agribank has also implemented many solutions to facilitate customers' access to preferential capital, helping to stimulate economic activity such as implementing 2% interest rate support from the State budget according to Decree 31/2022/ND-CP; implementing the credit program for social housing, workers housing, projects for renovating and reconstruction of old apartment buildings according to the Government's Resolution 33/NQ-CP; a reduction of up to 3% of interest rates for customers who borrow money for real estate business purposes who are in difficulties and have outstanding loans from January 31, 2023 to December 31, 2024, etc.

These are the programs with the most competitive and preferential interest rates on the market, which Agribank is implementing with the desire to support people and businesses to optimize borrowing costs and have capital to restructure operations, especially in priority areas.

Following the direction of the State Bank of Vietnam, with the ultimate purpose of accompanying, sharing and as a great way to demonstrate appreciation to customers, Agribank continues to reduce lending interest rates by 0.5% p.a. for existing medium and long-term loans of customers, from May 15, 2023 to the COB of September 30, 2023.

It is estimated that about 2 million customers will be supported with the total amount reduced under this program of more than VND 1,000 billion.

This is the 5th time in a row from the beginning of 2023 that Agribank has reduced lending interest rates, directly supporting customers, helping customers reduce costs to focus on restructuring and restoring business activities.

For short-term credit, Agribank has also implemented many credit programs with preferential interest rates, the lowest is only 4.5% p.a. depending on the loan term and borrower.

Agribank has actively implemented policies on restructuring of repayment terms and keeping the debt group according to Circular 02/2023/TT-NHNN; exemption and reduction of interest rates and fees to support customers during the post-pandemic recovery period; 2% interest rate support under Decree 31/2022/ND-CP, contributing to realizing the goals of the socio-economic recovery and development program of the National Assembly and the Government.

Kylie Nguyen