Illustrative 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 five priority fields, starting from May 13.
The move is in line with the State Bank of Vietnam’s Circular No.39/2016/TT-NHNN.
Specifically, short-term lending rate stands at a maximum of 5 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 than two months in order to offer fiscal support and recover the economy following the COVID-19 pandemic./.
