Interest rate reduced for preferential social loans
Prime Minister Nguyen Tan Dung has signed Decision No. 872/QD-TTg,
cutting down the interest rate of loans provided by the Vietnam Bank for
Social Policies.
Prime Minister Nguyen Tan Dung has signed Decision No. 872/QD-TTg,
cutting down the interest rate of loans provided by the Vietnam Bank for
Social Policies.
A range of borrowers, including poor households, students and beneficiaries of social welfare, who register to work abroad under a fixed-term contract, will subsequently pay an annual interest rate of only 7.2 percent (equivalent to 0.6 percent per month). This will also be the case for organisations that create jobs for handicapped and wounded soldiers. The rate is down from the 7.8 percent level set last year.
The new decision came into effect on June 6. Only fully approved loans are allowed to enjoy the new interest rate.-VNA
A range of borrowers, including poor households, students and beneficiaries of social welfare, who register to work abroad under a fixed-term contract, will subsequently pay an annual interest rate of only 7.2 percent (equivalent to 0.6 percent per month). This will also be the case for organisations that create jobs for handicapped and wounded soldiers. The rate is down from the 7.8 percent level set last year.
The new decision came into effect on June 6. Only fully approved loans are allowed to enjoy the new interest rate.-VNA
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