At the Government's regular online meeting in March 3, the Governor of the State Bank of Vietnam, Le Minh Hung, said that on March 2020, the SBV met with 31 credit institutions (accounting for about 3% of the total outstanding loans for the economy. In fact, all credit institutions have a very high consensus of reducing at least 20% of loan interest rates compared to the time before the epidemic.
Also in two days, a series of banks have officially announced credit packages and reduced lending rates, some banks have decreased to 2% / year, and some banks have reduced interest rates on current loans. property.
VIB is the pioneer bank announcing interest rate support for existing loans, starting from April 1, 4. Specifically, VIB continues to expand the interest rate support package with a discount from 2020% to 0,5% in 2,0 months for all existing customers, large enterprises, small and medium enterprises and enterprises. Micro in all areas.
The support package is applicable to all medium and long term loans in VND (except for bonds) with interest rates existing from 9,5%. According to initial estimates, approximately 9.500 customers with approximately VND 10.000 billion of outstanding loans will immediately receive this support in VIB's efforts to help customers overcome difficulties caused by the Covid-19 epidemic.
HDBank sharply reduced lending rates for all customers, without requiring proof of difficulties caused by the Covid-19 epidemic since March 31. Preferential interest rate reduction packages from 3-2% for individual customers and micro businesses affected by Covid-4,5 epidemic throughout the country.
The Bank also designed many credit packages for many customers during the Covid 19 season such as VND 10.000 billion to support stabilizing consumer prices, necessities, flexible interest rates from only 6,5% / year. for businesses that supply goods and services to supermarket chains for people; VND 5.000 billion of preferential funding for SMEs; spend 3.000 billion VND to sponsor businesses operating in the field of supplying pharmaceuticals, equipment and medical supplies to meet the needs of dealing with epidemics; VND 1.000 billion package for the rural agriculture chain to ensure the production and supply of rice to the country and at the same time to help businesses and business households facing difficulties due to saline intrusion in the Mekong Delta ...
Vietcombank, BIDV, VietinBank, Agribank pledged to deeply reduce lending rates to 2,5% / year
At the meeting on 31/3, leaders of 4 state-owned banks Vietcombank, BIDV, VietinBank, Agribank pledged to deeply reduce lending interest rates to 2,5% / year.
Mr. Nghiem Xuan Thanh, Chairman of Vietcombank said that the bank has a policy to reduce VND interest rates for all businesses and individuals affected by the epidemic. Total loans of industries / sectors affected by COVID-19 supported by Vietcombank, preferential interest rates lower than 0,5-1,5% compared to the common interest rate up to now over 112.700 billion copper. In the coming time, this bank will have a credit package of VND 30.000 billion with lending interest rates falling by 2-2,5% compared to the current ground. Enterprises producing essential goods will be reduced by 2,5% a year and enjoy interest rates of only 4,5-5% a year.
Besides, this bank will continue to extend the policy of reducing interest rates by 1-1,5% for existing loans (from April 30 to September 4). Vietcombank's profit is estimated to decrease by VND 30 billion because of this policy.
At Agribank, the bank set aside VND 100.000 billion of preferential loans to support customers affected by Covid-19 epidemic to restore, stabilize and develop production and business. The program is applied for loans disbursed from April 01, 4 until 2020 months after the Prime Minister announces the end of the Covid-3 epidemic or until the disbursement of the VND 19 billion credit package is completed. .
Customers who are the subjects of the program will enjoy interest rates lower than 1% (for loans in VND) and less than 0,5% (for loans in foreign currencies) compared with interest rates same kind.
Previously, Mr. Pham Hoang Duc - Chairman of Agribank pledged to work with commercial banks to implement mechanisms and policies that support the reduction of interest rates by 2% / year for those who are directly affected. continued by translating COVID-19 as it is today.
VietinBank announces to continue reducing 2% lending interest rates, offering a credit program of VND 60.000 billion to support customers. Specifically, from April 01, 4, VietinBank continued to implement a low-interest credit program with the scale of VND 2020 trillion with the lending interest rate decreasing by up to 60% / year compared to the credit programs that have been implemented. before (before the outbreak). VietinBank especially gives incentives to businesses that supply essential goods to the people during the Covid-2 pandemic.
In addition, VietinBank continues to deploy unlimited credit programs such as: Accompanying with corporate customers, Preferential loan interest rate incentives, Gratitude preferential loans for retail customers, ... with interest rates lower than 1,2% -3% / year than usual.
At BIDV, the bank has officially announced a reduction of up to 2% / year on lending rates applicable to both mortgage and unsecured loans. Specifically, for existing loans, the bank will restructure the debt, extend the time to repay principal and interest and reduce it by up to 2% / year (for VND loans) to businesses in the fields. , trades affected by Covid-19 epidemic. The specific reduction will depend on the sector, industry and level of impact affected by the Covid-19 epidemic of businesses.
The Bank also reduces up to 1% per year (for loans in VND) to individual consumer loans with unsecured salary repayment due to the impact of the Covid-19 epidemic affecting income. In particular, in case the unemployed employee is entitled to a subsidy of VND 1,8 million according to the Government's orientation, BIDV will reduce the interest rate by 2%, and the grace of unpaid principal and interest due to these customers. during the translation period.
For new borrowing needs: BIDV has credit packages to support businesses affected by the Covid-19 epidemic and have new loan demands with interest rates down 2% compared to the same ones on December 31, 12. .
Kienlongbank decided to reduce the interest rate by 3% / year on term compared to the interest rate being applied under the agreement of the credit agreement signed for both individual and corporate customers.
The period of application of interest rate reduction is from April 01 to June 4, 30, for customers in the Mekong River Delta (priority of 6 provinces that have declared emergency cases are Kien Giang and Ben. Tre, Ca Mau, Tien Giang and Long An), to provide timely and urgent assistance to customers damaged by drought and saline intrusion.
The bank said it was a program to supplement capital for agricultural production (raising, planting, tending) rice, fruit trees, vegetables, fruits and aquatic products in five provinces affected by drought and intrusion. salty. During this time, Kienlongbank also supports customers with free interest of overdue interest and late payment interest. The maximum interest rate exemption / reduction period is 5 months and does not exceed 3/30/06.
VPBank launched the second special support package, reducing interest rates up to 2% for businesses facing seasonal difficulties. Specifically, for loans with collaterals, the maximum interest rate reduction is 2% / year for VND loans, 1,5% / year for USD loans. For unsecured loans, VPBank applies the maximum interest rate reduction of 1% / year for VND loans and 2% / year for USD loans.
Enterprises enjoying these incentives should meet a number of requirements such as: Enterprises operating in the fields of tourism, restaurants, hotels, means of transportation; have activities exporting to China, the US and Europe, accounting for at least 50% of the enterprise's turnover in 2019; having raw materials accounting for at least 50% from markets of China, USA and Europe; as well as difficulties in repayment due to the impact of the Covid-19 epidemic as assessed by the business unit.
In addition, businesses must meet some other conditions of VPBank such as having good credit ratings over several consecutive periods; Financial stability, transparency before the epidemic is reflected in audit reports.
TPBank issued additional preferential interest rate programs for new disbursed customers with a total outstanding loan of up to VND 12.000 billion. Accordingly, TPBank has packages of VND 5.000 billion for small and medium enterprise customers, VND 4.000 billion packages for large corporate customers, and VND 3.000 billion for individual customers, with preferential interest rates reduced by 1,5, 2,5-XNUMX% of the current interest rate.
In addition to restructuring the debt, extending principal and interest for customers as prescribed, TPBank also reduced interest rates from 0,5% - 1% for existing customers severely affected by the pandemic, with The total outstanding loans can be considered up to VND 30.000 billion.
ACB has just launched a VND 10.000 billion preferential loan package to boost support for customers directly affected by Covid-19. This is the second phase of the VND 35.000 billion preferential loan package that the bank is implementing from the beginning of February to support customers to overcome difficulties caused by the disease.
Earlier in February, ACB implemented phase 2 with a VND1 billion loan program to support businesses and individuals facing difficulties in business activities due to the impact of Covid-25.000 epidemic with preferential interest rates reduced to zero, 19% -0,5% compared to commercial interest rates of 1,5.
From March 31, 03, the second phase of the loan package will continue to be implemented with VND 2020 billion for customers who are particularly difficult to affect business operations due to Covid-2 epidemic and the following incentives: The loan is for 10.000-19 months, the principal is extended to 36 months and paid off until the loan is due. The loan interest rate is up to 48% lower than the interest rate level of 12.
SHB has launched a 25.000 billion dong credit package, interest rates are reduced at least 2% / year for both old and new loans. The first is a credit package of VND 25.000 billion with many preferential interest rates on loans, banking service fees, especially reducing the minimum lending interest rate of 2% / year compared to normal interest rates. SHB continues to effectively implement measures to expand credit in production, business and priority areas, especially lending to maintain and restore the affected industries and fields. by translation.
Followed by the exemption or reduction of interest rates, charges for old loans, the preferential interest rate of at least 2% for existing customers of SHB who are having difficulty with translation.
Procedures for applying for exemption or reduction
Notice to Expertis
- Expertis customers please inform us the need for support. With the details.
Working with banks
- Within 1 working day from the date of receiving your notice, we will send staff to contact the bank and respond via email to customers about the bank's detailed records and policies.
- Expertis continues to support customers to prepare documents proving damage / business decline to meet the bank's policy.
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- Expertis will assist customers to send documents to the bank, by: sending the delivery staff to customers to get records and send to the bank for the person responsible for approval.
- Expertis will support tracking results from the bank and the bank will in the direct report to the customer in the event of approval.