Illustrative photo (Source: VNA)

Hanoi (VNA) – The Bank for Investment and Development of Vietnam (BIDV) will cut down its lending interest rate for short-term loans in VND for prioritised sectors by 0.5 percent to 6 percent per year from January 15.

The preferential rate will be applied to customers operating in export, support industry, hi-tech industry and hi-tech agriculture.

At the same time, the bank will continue running large-scale loan packages with preferential interest rates that are lower than the normal rate by 1-1.5 percent per year for customers in the Government’s priority list. They include 10 trillion VND package for small and medium-sized enterprises, 20 trillion VND for large firms, and 3 trillion VND for micro enterprises and startups.

Earlier, Agribank, Vietcombank and Vietinbank also announced their plans to cut interest rates for loans in five prioritised sectors to assist people and businesses in accessing capital, thus boosting economic growth.-VNA