Business

Agribank cuts lending rates for priority fields

The Vietnam Bank for Agriculture and Rural Development (Agribank) has decided to cut interest rates for short, mid and long-term loans in five priority fields, starting from May 13.
Agribank cuts lending rates for priority fields ảnh 1Illustrative image (Photo: VNA)


Hanoi (VNA) – The Vietnam Bank for Agriculture and Rural Development (Agribank)has decided to cut interest rates for short, mid and long-term loans in fivepriority fields, starting from May 13.

The move is in line with the State Bank of Vietnam’sCircular No.39/2016/TT-NHNN.

Specifically, short-term lending rate stands at a maximum of5 percent per year while mid and long-term rates are at least 7.5 percent.

It is the bank’s second interest rate reduction in less thantwo months in order to offer fiscal support and recover the economy following theCOVID-19 pandemic./.

#Vietnam Bank for Agriculture and Rural Development #Vietnamplus #Vietnam News Agency #State Bank of Vietnam #lending rate Vietnam
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