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BIDV offers lowest lending interest rate
The Bank for Investment and Development of Vietnam (BIDV) has reduced its annual lending interest rate in VND to 6.5 percent, which is 2 percent lower than the prime rate and is the lowest among banks at present.
BIDV Chairman Tran Bac Ha said by cutting the lending interest rate, the bank wants to actively join nationwide efforts in promoting production and stimulating investment and consumption in order to curb economic decline and maintain economic growth.
On its announcement released on January 7, the BIDV will apply, as of January 9, the 6.5 percent interest rate for three-month loans for producers of steel ingot, construction steel, fertilisers, cement and medicines, who still have unsold stockpile.
The bank sets an 8.5 percent interest rate for three-month loans for exporters who have inked direct export contracts and for clients who have committed to sell back correlative currencies to the bank.
The BIDV reserved a lending interest rate of 9 percent for small and medium-sized enterprises and business which employ over 1,000 workers and engage in producing consumer goods.
It will apply interest rates of 4.8 percent, 5.3 percent and 5.7 percent for 1-3 month, 3-6 month and over-6 month loans in US dollars, respectively.
In addition, the BIDV said it will give 272 billion VND to poverty reduction efforts in four out of the nation’s 61 poorest districts, including Sop Cop in northern Son La province, Thuong Xuan in central Thanh Hoa province, Ky Son in central Nghe An province and An Lao in central Binh Dinh province, and to programmes for community development in the 2009-2010 period.
vna
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