Customers at a BIDV office. BIDV’s customers will enjoy preferential interest rates from 8 per cent per year for loans of less than 6 months and from 9 per cent per year for loans from 6 months to 12 months. VNA/VNS Photo

HÀ NỘI — The group of the four biggest State-owned banks (Big4) have launched preferential loan packages with interest rate reductions of up to 3 per cent per year to lower short-term lending rates to only 7 per cent per year.

The Big4 banks include BIDV, VietinBank, Vietcombank and Agribank.

Specifically, BIDV has implemented a new loan package for individual borrowers worth VNĐ130 trillion, of which VNĐ30 trillion is for a short-term package and the remaining is for a long-term package.

Under the short-term package, customers will enjoy preferential interest rates from 8 per cent per year for loans of less than 6 months and from 9 per cent per year for loans from 6 months to 12 months.

As for the long-term loan package for housing purchases, the preferential interest rate of 10.3 per cent per year is applied for the first 12 months from the date of disbursement, or 10.9 per cent per year for the first 18 months from the date of loan disbursement.

In addition, the bank has also applied an additional reduction of 0.2-0.4 per cent for home loan customers who meet some conditions such as being paid salary through BIDV accounts, and buying houses in Hà Nội and HCM City.

Besides BIDV, the three other Big4 banks have also announced to reduce lending rates or launch preferential packages to support borrowers.

VietinBank has launched a VNĐ10 trillion package with a preferential interest rate of 7 per cent per year to support small- and medium-sized enterprises (SMEs) to develop their business in the first half of 2023.

Accordingly, short-term loans with a term of less than six months until June 30 this year will enjoy preferential interest rates from only 7 per cent per year. The incentive package is applicable to SMEs who borrow from VietinBank for the first time or have not been disbursed any loan within the past six months.

Agribank has also announced the application of interest rate support policy for real estate business loans until the end of this year.

Specifically, the interest rate for real estate loans can be adjusted down by up to 3 per cent per year compared to the current lending interest rate but not lower than the 12-month short-term loan interest rate for normal production and business activities in accordance with Agribank's regulations.

At Vietcombank, the bank said from January 1, 2023 to the end of April 30, 2023, interest rates will continue to be reduced by 0.5 per cent per year for individual and corporate customers, except for customers in risky sectors such as real estate and securities.

Besides the group of State-owned banks, many other private banks such as Sacombank, SeABank and ACB have also announced to reduce lending interest rates and have preferential packages to support customers. — VNS