Numerous banks have increased their lending rates to businesses.

DNHN - After reducing deposit rates, several banks announced they would reduce lending rates to make it easier for customers to obtain preferential loans to stimulate production and business.

MSB has just announced that from now until December 31, 2023, the Bank will continue to reduce the lending interest rate for individual customers by 1% per year compared to the current interest rate. This is the second time in 2023 that MSB will reduce lending rates for customers with outstanding loans at the bank. Beneficiaries are all MSB customers who have secured loans with outstanding balances and meet the program's requirements.

MSB promotes competitive credit packages with preferential interest rates to new customer groups to help customers obtain loans such as business loans, flexible mortgages, real estate, etc. The "Business Whirlwind" solution package has an annual interest rate of only 10.5%; the loan to purchase real estate has an interest rate of 10.99%.

Ms. Nguyen Thi My Hanh, Deputy General Director of MSB and General Director of Retail Banking, stated, "In addition to following the direction of the State Bank, MSB hopes to assist customers in optimizing costs, timely supplementing business capital, and meeting spending needs through credit support packages."

From the start of 2023 to the present, VIB has reduced lending interest rates four times, with reductions ranging from 0.5% to 3.5% depending on loan and customer conditions. Which has the greatest decline in lending interest rates to supplement working capital for business customers? After the reductions from the beginning of the year to the present, the interest rate for business loans at banks is as low as 8 %/year for individual customers or microbusiness owners who transact frequently at VIB.

Recently, VIB reduced interest rates by an additional 1% for customers with loans from June 15 to July 31, 2023, in conjunction with other VIB interest rate reduction programs. Consequently, customers who take out business loans at VIB during this period can enjoy an annual interest rate of just 7%. From June 15 to July 31, 2023, the bank will apply an additional 0.5 percent discount to new real estate loans.

Beginning on June 1, 2023, BIDV will reduce lending interest rates for existing medium- and long-term loans by 0.5% per year, a rate that has never been applied previously. This is the second time in 2023 that BIDV has lowered its lending rates for customers with outstanding loans.

Previously, by the State Bank's (SBV) directives for implementing the 120 trillion VND program to lend social housing, worker housing and renovating and rebuilding old apartment buildings by Resolution 33/ NQ-CP, BIDV reserved a VND 30 trillion credit package for loans with interest rates 1.5-2% lower than the average rates of banks.

Before that, Agribank experienced its fifth loan interest rate reduction since the start of 2023. The bank reduced lending interest rates, directly benefiting customers and reducing expenses so that it could concentrate on restructuring and restoring business. From May 15, 2023, to September 30, 2023, Agribank reduces the lending interest rate for existing medium and long-term loans of customers by 0.5% per year.

In addition, beginning at the start of the year, BIDV has implemented competitive credit packages with a supporting interest rate of up to 2 %/year compared to standard lending rates to assist businesses and individuals in gaining access to financial resources. A loan at an affordable rate.

Nhan Ha