BIDV to cut annual lending interest rate by 0.5%
The Bank for Investment and Development of Vietnam (BIDV) will cut down its lending interest rate for short-term loans in Vietnam dong for prioritised sectors by 0.5% to 6% per year from January 15.
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At the same time, the bank will continue running large-scale loan packages with preferential interest rates that are lower than the normal rate by 1%-1.5% per year for customers in the Government’s priority list. They include VND10 trillion package for small and medium-sized enterprises, VND20 trillion for large firms, and VND3 trillion for micro enterprises and startups.
Earlier, Agribank, Vietcombank and Vietinbank also announced their plans to cut interest rates for loans in five prioritised sectors to assist people and businesses in accessing capital, thus boosting economic growth.
