The Vietnam Export Import Commercial Joint-Stock Bank (Eximbank) has announced to put on a preferential lending program for exporters.

Borrowers of export credit in Vietnam dong at Eximbank will pay an annual interest rate of 17%. The term of such a loan is three months.

Another option is Eximbank will roll out a local currency export credit program based on interest rates for foreign currency. The applicable interest rate for exporters is 7% a year and the loan term is six months.

Eximbank will set aside VND500 billion for each of the two programs.

Earlier, HCMC Housing Development Bank (HD Bank) kicked off a similar program known as “Preferential loans for supporting industries” with an annual interest rate 1-4 percentage points lower than normal rates for enterprises active in the fields of automobile assembly, telecom-electronic devices, household appliances, mechanical engineering, footwear and textile.

Asia Commercial Bank (ACB) has also launched a special credit program “Capital support, loan preference” for cash-strapped individual and household businesses. The program is applicable to disbursements from August 1 to December 31.

ACB clients will enjoy an interest rate of 1.2 percentage points less for short-term loans or those totaling VND500 million each, in HCMC and Hanoi, or VND300 million, in other parts of the country.

The Saigon Times Daily