Enterprises to enjoy preferential rates with loans from BAC A BANK

The loans will help enterprises change their performance models and optimise operation costs.

According to the General Statistics Office (GSO), in the first six months of this year, 70,200 businesses halted operations and submitted documents for disbandment, which is 24.9 per cent more than in the year prior. Each month saw an average of 11,700 enterprises withdraw from the market.

BAC A BANK is offering a new loan package with super-preferential lending rates

However, the economy also witnessed the establishment of 67,100 new enterprises with a total capital of VND942.6 trillion ($41 billion), up 8.1 per cent in the number of businesses and 34.3 per cent in capital.

Almost all enterprises need bank loans, especially short-term capital for business and production. Under a recent survey by the Vietnam Chamber of Commerce and Industry, 59 per cent of small-sized enterprises, 58 per cent of medium-sized enterprises, and 35 per cent of big-sized enterprises in Vietnam suffered from a reduction in liquidity due to capital shortages.

In this context, the maintenance of the smooth operation of the domestic banking system is very important to support the economy to effectively respond to the COVID-19 pandemic. Recently, the State Bank of Vietnam (SBV) enacted Circular No.03/2021/TT-NHNN on instructions for credit institutions and foreign branch banks on debt rescheduling, exemption or reduction of interest and fees, retention of debt category to assist borrowers affected by the COVID-19 pandemic.

Directed by the SBV and pursuing its own commitment of accompanying enterprises, BAC A BANK is offering a loan package with super-preferential lending rates for enterprise customers from June 22 to December 31 or until the VND3 trillion ($130.43 million) package is fully disbursed.

The lending rate is 6.8 per cent a year for customers with a debt acknowledgement contract of fewer than six months and about 7.3 per cent a year for a debt acknowledgement contract of six months.

In addition, if a new client is introduced to the package by an existing one, the latter will be entitled to a reduction in lending rate of 0.2 per cent a year for a maximum of two debt acknowledgement contracts compared to common lending rates.

Furthermore, BAC A BANK is also offering its clients a series of incentives on fees, such as account service fee, domestic money transfer fee, e-bank fee, and guarantee issuance fee.