SHB launches scheme to offer interest rate cuts

The Saigon-Hanoi Commercial JS Bank (SHB) has launched a scheme to offer preferential loans to its customers with a 2-per-cent cut on interest rates.

Clients make their banking transactions at an SHB branch. The bank launched the scheme to offer interest rate cuts on July 22. — Photo bnews.vn

The Saigon-Hanoi Commercial Joint Stock Bank (SHB) has launched a scheme to offer preferential loans to its customers with a 2-per-cent cut on interest rates.

The scheme is valid until December 31, 2023, with total decrements in interest rates amounting to VND710 billion (US$30 million). It is part of the Governmental support package of VND40 trillion financed by the State budget to boost economic recovery.

Under the scheme, the loans are accessible to borrowers specified in Decree 31 on interest rate cuts issued on May 20, 2022. The borrowers comprise firms, cooperatives and business households operating in prioritised sectors, including forestry, fishery, social housing and education.

Previously, Vietcombank, Agribank and OCB were among the first banks to announce support packages with a 2-per-cent interest rate cut. SHB followed suit on July 22. — VNS

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