After testing time, Vietnam Bank for Social Policies (VBSP) has officially applied microcredit for poor people. Participants only need VND 5,000 to VND 10,000 to take part in.

 

VBSP authorizes credit and loans groups to offer small loans to people in need. Currently, demand deposit of VBSP through credit book and loans is at 0.2% a month. As for term deposits, the rate is at 0.75% a month or equivalent to 60-70% of the market rate in commercial banks.

Reported by Thanh Hong – Translated by Vi Bao