Agribank Lowers Interest on Agricultural Loans
The Vietnam Bank for Agriculture and Rural Development (Agribank) has reduced its lending rates for agricultural loans to 17-20.5% per year as of September 12, in response to the Government and State Bank of Vietnam request to lower interest rates.
Agribank dropped lending rates to 17-19% per year on short-term loans, offering the minimum rate of 17% for agricultural, forestry, fisheries and salt producing households, and 18% for other customers.
The minimum annual interest rates on mid-term loans for agricultural households and other customers were set at 18.5% and 19.5%, respectively.
For long-term loans, the bank is offering 20.5% annual interest rates on all business loans.
Agribank will also continue to lend a large amount of capital to agricultural producers and exporters from now until the end of the year.
Nhan Dan
Vietnamese
