Accordingly, from January 1, 2024, Agribank will continue to adjust the interest rate policy for medium-term and long-term loans for production and business activities, loans for living needs with a fixed interest rate of only 7.0%/year, the applicable period is extended from 12 months to 24 months. At the same time, the floor interest rate for medium-term and long-term loans for the real estate business sector will be reduced by 0.5%/year.
With the current lending interest rate, Agribank continues to send a strong message of sharing difficulties, supporting people and businesses to optimize loan costs, and promptly supplementing capital sources to restructure operations, especially for priority areas.
Previously, in 2023, on the basis of reducing input mobilization costs, Agribank made eight adjustments to reduce lending interest rates, accordingly, lending interest rates have decreased sharply from 1.3 - 4%/year compared to the beginning of the year. In addition, Agribank also implemented many lending interest rate policy programs such as lending to the forestry and fishery sector, interest rate support program according to Decree No. 31/2022/ND-CP; Social housing lending program according to Resolution 33/NQ-CP, lending to support individuals receiving budget salaries, lending to support medical staff; Program to support rice enterprises in the Mekong Delta region...
Along with reducing lending interest rates, Agribank has implemented 3 interest rate reduction programs for existing outstanding loans of nearly 2 million customers with an estimated interest reduction amount of more than 1,000 billion VND in 2023 and will continue to be implemented in 2024.
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