BAC A BANK offers preferential lending rates

December 19, 2023 | 14:00

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BAC A BANK is to carry out a special short-term interest rate incentive scheme worth VND1 trillion ($42.2 million) from now until January 31, or until when the sum has been disbursed, available to businesses from all sectors.

The scheme, entitled 'Together with BAC A BANK - Welcome Spring', promises to offer a solution for businesses to overcome the current difficulties, and expand their production and business activities.

BAC A BANK offers preferential lending rates

Private businesses are an important driving force for economic growth and are strategic partners of the banking industry in its efforts to optimise cash flows and exploit financial resources effectively in service of development goals.

Understanding the urgent need for short-term capital from this customer group, and following the success of preferential loan packages deployed earlier this year, BAC A BANK has launched this scheme governed by simple procedures and a swift disbursement process, with a flexible approach to collateral.

The bank is offering preferential interest rates of just 7.5 per cent a year for new or existing business customers, with a loan duration of between 3–12 months.

The interest rate will be fixed for the first three months and then be adjusted according to the personal savings interest rate, with a rate of only 3.4 per cent a year. More attractively, with the goal of supporting its customers, BAC A BANK will also waive and reduce early repayment fees depending on each specific case.

BAC A BANK expects the scheme to help businesses access affordable capital and improve their operational effectiveness and competitiveness. The lender has also extended a preferential credit package until the end of the first quarter next year, and increased the total value of this package to VND5 trillion ($211 million).

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By Thanh Dat

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