Bank of Investment and Development of Vietnam (BIDV) has just announced 1% cut of interest rate effective from May 4th for business loans, making the maximum negotiable rate be 13% a year.

 

However, VND loans for group-A customers will only have interest rate of 12.5% a year for loans up to 6-month period supporting exportation, agriculture and rural development, and processing of farm produces.

 

Middle and long term loans for business, the rate is negotiable at maximum 14 % a year.

 

Reported by T.Hong – Translated by Vi Bao