When credit hits the target

In addition to competitive lending interest rate reduction, 28 credit institution branches in the old Binh Thuan area have launched many loan packages with preferential interest rates to stimulate credit demand. Still focusing on the needs of production and business, priority areas but more specifically. Still continuing to provide consumer loans, social housing loans... for the poor, low-income people but more strongly to promote consumer credit.

The allure of low interest rates

It must be noted that the tourism and service pillars in the first 6 months of this year in the old Binh Thuan area had the highest GRDP growth compared to the two pillars of industry and agriculture, so it is understandable that outstanding loans for the tourism - service - trade sector dominate with more than 65% in the credit structure. This reflects the suitability and close accompaniment of credit with the development pace of this industry.

Transaction activities of the Agricultural Bank with local people. Photo: N.Lan

Meanwhile, the industry, agriculture - forestry - fishery sector has lower outstanding debt, temporarily behind but also has many signals that it will increase the ratio in the general credit structure in the coming time. Because currently, the credit packages that credit institutions have launched, most of which have just been deployed in March and April, have low interest rates in the spirit of all contributing to economic development. In addition, more attention should be paid to expanding consumer credit, because consumption is one of the three important growth drivers of the economy in 2025 as directed by the Prime Minister, along with public investment and export.

For example, Vietcombank Binh Thuan branch currently has 3 attractive loan packages for businesses and individuals. In particular, the loan package for businesses with preferential short-term loans starts from April 2025 to the end of March 2026 with current interest rates from only 4.6%/year. Currently, there is an outstanding debt of 66 billion VND. As for individuals, there are 2 packages. Specifically, the preferential short-term production and business loan program will be implemented throughout 2025 for business households, with an interest rate from 4.6%/year. After 6 months of implementation, the outstanding debt is 1,630 billion VND. The second package for individuals applies to customers who need to borrow capital to buy land, repair houses, buy cars and consume for living purposes, starting from April 2025 to the end of March 2026. The interest rate during the preferential period is only from 5.9%/year, then floating. After 2 months, the outstanding debt is at 200 billion VND.

Also interested in developing consumer credit, Agribank Binh Thuan branch has just launched a home loan package for young customers from the beginning of April to the end of 2025. Accordingly, the borrowers are civil servants, public employees, and workers under 35 years old (calculated by date of birth) at the time of loan decision. Fixed interest rate for the first 3 years at 5.5%/year; minimum loan term of disbursement is 60 months or more. Up to now, there are 4 customers with outstanding loans of 10 billion VND. In addition, this bank branch also has many diverse loan packages according to customer needs, focusing on production and business in 2025, with attractive interest rates from 5.5-6.5%/year, depending on the term. In addition, there is also a loan interest rate policy and FTP selling VND capital for medium and long-term outstanding loans with interest rates from 5.5 - 6.5%.

The concern is that currently, credit management is no longer as rigid as before but is in line with macroeconomic developments, in the direction of limiting and moving towards eliminating the management of credit growth targets. At the end of 2024, the State Bank sent a document to credit institutions to publicly and transparently announce the principles of credit growth allocation in 2025 so that units can proactively implement them. Therefore, banks and customers do not have to worry about running out of capital like every year.

Source: https://baolamdong.vn/khi-tin-dung-trung-muc-tieu-381640.html