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Social Policies Bank reduces interest rates

Update: October, 11/2013 - 09:14

Prime Minister Nguyen Tan Dung issued a decision on Wednesday on the adjustment of lending interest rates for three credit programmes at the Viet Nam Bank for Social Policies.— File Photo

HA NOI (VNS) — Prime Minister Nguyen Tan Dung issued a decision on Wednesday on the adjustment of lending interest rates for three credit programmes at the Viet Nam Bank for Social Policies.

Accordingly, families living near the poverty line can enjoy a rate which is only 20 per cent higher than that for poor households, instead of 30 per cent as in the old decision.

The interest rates for clean water and environmental sanitation programmes in rural areas and for business households in underprivileged areas are also reduced to 9.6 per cent from 10.8 per cent annually, equivalent to 0.8 per cent per month.

The decision took effect from Wednesday, October 9 and applies to new loans. — VNS

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