Interest rate cut not as expected

Interest rate cut not as expected

Many commercial banks have announced a 0.5-3 percent cut in lending interest rates and many policies to support customers affected by the Covid-19 pandemic. However, feedback from individual customers in Ho Chi Minh City shows that banks have refused to aid them, even when they are in blocked areas and need priority.
Banks launch low-interest rate packages to stimulate credit demand

Banks launch low-interest rate packages to stimulate credit demand

Besides supporting customers affected by the Covid-19 pandemic, commercial banks also introduced several support packages with interest rates lower than usual interest rates by 0.5 to 3 percent per annum, worth around VND250 trillion (US$10.66 billion), for both corporate and individual customers to stimulate credit demand.