Customers transact at a VietinBank office. The bank continues to cut interest rates for corporate and individual borrowers - Photo: Courtesy of VietinBank

Vietnam Bank for Industry and Trade, or VietinBank, has continued to launch preferential loan programs for both corporate and individual customers, offering lending rates from 8.95% and 4% per annum for dong and U.S. dollar loans respectively.

For enterprises, VietinBank applies the lowest rate of 8.95% per annum to a VND10 trillion credit package while small and medium-sized enterprises (SMEs) enjoy a rate of 9.5% in another VND5-trillion credit program. Meanwhile, wholesale firms importing fuel products are subject to rates of 9% and 4% on dong and U.S. dollar loans respectively.

The lender has also offered individual customers a credit line of VND5 trillion with an annual lending rate of 10.99% to help them expand business. Clients buying homes at projects supported by VietinBank can access a VND5 trillion lending package with a rate of 12% per annum.

The bank also quotes a rate of 9% in a VND6-trillion lending package for new individual clients.

Besides, the bank’s rates for prioritized sectors such as agriculture, export, supporting industries and SMEs range from 8.95% to 12%.

The Saigon Times Daily