To loosen support conditions for employees and employers

On October 18, a representative of Social Policy Bank - Binh Duong provincial branch informed that this unit is implementing Resolution 126 of the Government. Accordingly, Binh Duong Social Policy Bank has expanded its target group and loosened support conditions for employees and employers facing difficulties due to Covid-19; including the loan policy to make severance payment and resume production.

Employers are allowed to borrow loans from this bank branch with 0% interest rate, without having to apply loan security measures to make severance payment for employees that are participating in compulsory social insurance and have to stop working for 15 consecutive days, from May 1st 2021 to the end of March 31st 2022. The maximum credit limit is equal to the regional minimum wage for the number of employees according to the actual pay-off period of up to 3 months. The loan term is less than 12 months.

Employers, that operate in the fields of transportation, aviation, tourism, accommodation services and sending Vietnamese workers to work abroad under contracts from May 1st 2021 to the end of March 31st 2022, get loans at Social Policy Bank at 0% interest rate, without having to take loan security measures to pay salaries for employees...

Reported by Quang Tam - Translated by Ngoc Huynh